A comprehensive application enables you to vet applicants because it offers insights into a tenant’s financial stability, rental history, and their ability to meet rental obligations. With a clear understanding of an applicant’s payment record of accomplishment and past rental behavior, you can guarantee you are renting to someone who pays on time and minimizes property damage risk.
Conducting a thorough rental application process also ensures that you are complying with Fair Housing laws and treating all applicants fairly. When comparing applicants, it is important to have all the information about a prospective tenant in front of you so you can be confident you are choosing the most qualified tenant.