Real Estate Rental Application Processing Checklist

Real Estate Rental Application Processing Checklist

Streamline the rental application processing workflow using this checklist. Methodically tick off each item as you progress to ensure meticulous evaluation and adherence to application guidelines.

Application Document Verification

  • Verify tenant's identification (ID, passport, driver's license).

  • Check employment verification documents (pay stubs, employment letter).

  • Review credit report and check for any red flags.

  • Verify rental history with previous landlords.

  • Check for any criminal background history.

Property Showing and Inspection

  • Schedule property showings with potential tenants.

  • Conduct thorough property inspections before and after tenant visits.

  • Document any damages or repairs needed in the property.

  • Ensure property complies with building codes and safety regulations.

  • Discuss lease terms and conditions with potential tenants during showings.

Lease Agreement Preparation

  • Prepare lease agreement with all necessary terms and conditions.

  • Ensure lease agreement complies with state laws and regulations.

  • Review lease agreement with legal counsel if necessary.

  • Provide tenants with a copy of the lease agreement for review.

  • Address any questions or concerns tenants may have about the lease agreement.

Security Deposit Collection

  • Explain security deposit terms and amount to tenants.

  • Collect security deposits from tenants as per lease agreement terms.

  • Provide tenants with a receipt for security deposit payment.

  • Store security deposit in a separate account as per legal requirements.

  • Inform tenants of security deposit return policies and procedures.

Final Review and Approval

  • Review all application documents, lease agreements, and security deposit details for accuracy.

  • Obtain final approval from the property owner or management before finalizing the rental agreement.

  • Communicate approval or rejection of rental applications to tenants promptly.

  • Arrange for lease signing and move-in inspection with approved tenants.

  • Provide tenants with copies of signed lease agreements and relevant documents.

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