A residential rental application is typically required by landlords/real estate owners who are looking for eligible renters to lease their property. The form requests certain personal information about the candidate’s identity, rental history, and current employment status. After a number of interested applicants submit this document to the individual/management company in charge of processing applications, they will select the most qualified person to occupy the premises for an agreed-upon term. Anyone who applies may be subject to an “application fee” for the purpose of running a background check (prices may vary depending on the current demand of the rental property).
Acceptance of Application – If the applicant is approved to rent the property, the next step will call for the completion of a lease agreement to record the terms of the arrangement between the lessor and lessee.