Application to Rent Overview

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is required to confirm the accuracy of the information provided in the application?

A signed authorization from the landlord

A written affidavit from the applicant

A confirmation email from the applicant

Verification from a credit reporting agency (correct)

What must an applicant do to acknowledge receipt of the credit application?

Sign the application (correct)

Fill out the emergency contact section

Provide a personal reference

Submit a payment

Which section is NOT included in the information collected from the applicant?

Nearest relative's information

Employment history (correct)

Personal references

Emergency contact details

What action does the applicant consent to by signing the application?

To allow credit agencies to verify information Signup and view all the answers

What document must the applicant submit along with the credit application?

Accompanying payment Signup and view all the answers

What is the purpose of this application form?

To apply for a rental property and authorize a credit report Signup and view all the answers

What type of information is typically solicited from the applicant?

Personal, financial, and employment information Signup and view all the answers

What is the nature of the fee charged for the consumer credit report?

It is a non-refundable cost Signup and view all the answers

Which of the following statements is true regarding the applicant's past rental behavior?

The applicant must provide a complete rental history including evictions Signup and view all the answers

How is the amount for the monthly rent indicated in the application?

It is indicated as a variable amount with a dollar sign Signup and view all the answers

What detail concerning the applicants must be provided for identification?

Social Security and driver's license numbers Signup and view all the answers

What information is required about additional occupants?

Names of additional occupants only Signup and view all the answers

What information is required for the present address section?

Monthly Rent and Landlord/Agent Signup and view all the answers

Which of the following is NOT a section included in the application form?

Rental History Signup and view all the answers

What contact information is required for each landlord/agent?

Phone and Email Signup and view all the answers

In the employment section, which information is necessary to provide about the employer?

Length of Employment Signup and view all the answers

Which detail is necessary regarding previous employment?

Employer's Address Signup and view all the answers

What additional income information must be included in the application?

Amount and Source Signup and view all the answers

Which of the following is NOT part of the automobile information required?

Vehicle's Purchase Price Signup and view all the answers

What type of accounts must be reported in the bank section of the application?

Checking and Savings Accounts Signup and view all the answers

Study Notes

Application to Rent

Purpose: Used by leasing agents, property managers, or landlords to screen prospective tenants for creditworthiness and to collect financial, employment, and personal information.
Goal: To determine if the tenant can afford rent and is suitable for the property.
Credit Application: Includes space for the monthly rent amount.
Deposit: A non-refundable deposit is often collected, as well as a payment for a consumer credit report.
Rental History: Includes questions about past eviction history and bankruptcy filings; this section notes previous addresses, length of stay, and reason for moving.
Employment: Information about present and previous employers, including length of employment, pay period, position, and wages.
Credit References: Includes space for up to two credit references with address, account number, and outstanding balance.
Personal References: Includes space for two personal references; information such as phone number and email addresses is requested.
Additional Income: Space for reporting other sources of income.
Vehicles: Space to record details of vehicles owned, including year, make, model, license number, and lender details.
Financial Information: Request for bank account information, including check and savings account details.
Important Note: The applicant authorizes the verification of credit history and acknowledges the information provided is correct. Also includes a space for contact information of the Landlord and the applicant.
Form Instructions: The information provided is not privileged.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

This quiz focuses on the essential components of a rental application, including creditworthiness, rental history, employment details, and personal references. It aims to educate prospective tenants on what information is typically required by landlords and property managers. Understanding this application process is crucial for securing a rental property.