When the stock market crushed so many dreams of early retirement, real estate became everyone’s safe haven to park cash while they waited for the next big boom. If you’re using a rental property to cushion your finances, then proper landlord forms are just what you need. Landlord forms sound profound, but what they are is a formal way to separate the bad tenants from the good ones. The questions you are asking yourself now can keep you from wondering “why did I rent from these people?”

Depending on the state you live in, there are certain questions you can and can’t ask, but all homeowner forms cover at least one important thing, the first thing your homeowner forms should ask is employment details. You want to make sure the prospective tenant has enough and consistent income to cover the monthly rent on time. It would be wise to request an employment letter from the tenant’s employer or last payslip just to show that they are still employed especially in this economy. Once you have confirmed that the tenants are employed, it is time to move on to the next step in the process.

Your landlord forms should ask for permission to get a copy of a prospective tenant’s credit report. A credit report will show you how the tenant has handled their financial commitments over the last 5-7 years. If the tenant refuses to give permission for the credit check, go to the next applicant with no exceptions, you have invested too much in his property to risk it with someone who would not let you make sure he is responsible. If you get consent to get the credit report and the score is lower than average or there are gaps in your history, then you need to find out now what the reasons for the gaps are. If the reasons seem valid, you can proceed to the next phase of the application; however, if the reasons seem invalid, now would be the time to end the process.

If you’ve reached this part of the homeowner forms, then you’re almost there. One question most owners want is permission to speak with a previous owner. It will give you a better idea of ​​how the tenant will behave on your property. If the previous landlord tells you that the previous tenant was responsible and well behaved, then you can be pretty sure you are renting from a good tenant however, if the previous landlord tells you that the tenant was troublesome and did not give you more than headaches, then you should move on to another tenant to make sure you don’t take on someone else’s problem.