New tenant application form

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captdave
Posts: 2
Joined: Thu Jan 29, 2009 1:30 pm

New tenant application form

Post by captdave » Thu Jan 29, 2009 1:45 pm

We are new owners of a small MHP in Florida. Would anyone be willing to share their application for new tenants form? We need to check ref's, credit history, job history, etc. Any ideas on what should be in this form? We need to screen our new tenants carefully and had to evict three tenants shortly after taking over the park.

David Oxhandler
Posts: 1459
Joined: Tue Oct 02, 2007 8:37 am

Re: New tenant application form

Post by David Oxhandler » Thu Jan 29, 2009 10:15 pm

Greetings from North Central Florida !!

Happy to share the form we have been updating for the past 25 years for both rental and owner finance prospects. Our form is available for free download in Word format Here

If you have any questions about the content post your question here for an answer.

You can turn your mobile homes in to a nice monthly income. You want to insure your prospects can afford what your offering, so you will never have any problems receiving those payments.

In order to minimize turn over you have to really pay attention to the process of qualifying your rental prospects.

Follow the old rule of thumb and be sure that one weeks combined income for your applicants can cover the rent payment.

Get to know just who you are dealing with. Pull a credit report. I dont worry about the prospects credit score I try to look for a state of mind. For example. If the prospects have been behind often on utility bills, you could be looking at a person that has difficulty setting and/or maintaining payment priorities.

Folks who dont pay the phone company, the power company, the gas guy, all things they will continue to require,is probably not a good prospect for making regular payments to you.

If there are doctors, hospitals and medical collection corporations who have stained the prospects credit, or some single event years before... look closer.

Ask the prospects if they are paying a buy here pay here car lot, monthly rent, payments on anything? Ask where they work, how long they have been there and how much they make.

Get them to complete and sign a credit application that gives you permission to contact creditors or references Then do the homework. If you do it right the time invested will pay you back many times over

Do not back off or finance the move in payment. If they can give you first months rent, last, and a months rent for security (or more) to move in, the prospect has a real vested interest in completing their obligation. You are also looking at someone who can manage their finances well enough to come up with more then it cost to live between pay days, and will probably look after keeping a roof above their head.

Call those monthly payment recipients and ask how well the prospect makes payments. If they have been good on their payments for a few years you have a good probability that they will make payments to you.

Call the employers and verify that they are making enough to make your payment as well as their existing payment obligations. If they have been with the same job(s) for 2 years or more, and the employer confirms that they have a high chance of continuing. You have an excellent prospect. If they have been on the same job for a year with a high chance of continuation you have a good prospect.

Call their current landlord. Verify the amount they pay and if they have been paying on schedule. If they have been making rent payments for a year or more, on time that are about that same, or more then what they will need to pay you, then the chances of you getting your payments are high.

Be very clear about the total cost of living in your home. Let your prospect know upfront exactly what they will also be obligated to pay you and an idea of what the utility payments will be monthly..

Have a licensed, local attorney review your contracts prior to putting them into use the first time. Legal Forms you will need, should been drafted to comply with the laws of your State.
David Oxhandler
[email protected]

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