When looking for a reputable renter for a rental property, landlords and property managers frequently use an Indiana rental application. Tenants who wish to fill out the application form should have all of their information on hand and be prepared to sign the application. This signature will serve as verification that all of the information provided is correct and complete. A consent line will also allow the property management to do a background and credit check on the applicant who has provided and signed this form.
Application Fee — When it comes to screening tenants, there is no restriction on how much a landlord can charge (no statute).
Security Deposit - The amount that can be required as a security deposit has no limit (no statute).
Gross income should be at least three times the market rate for the property you're seeking, and it has to be thoroughly verified. Verify income utilizing pay stubs and a written employment reference in the majority of cases. The applicant is required to give records of bank statements and a preceding year's tax return indicating required income amounts for self-employed applicants.
Applicants who receive social security or other federal aid must produce proof of their eligibility, such as a statement of benefits and bank documents demonstrating their income. If you have a consistent payment history for the last 12 months, you may be eligible for court-ordered spousal or child support.
The applicant must give data for their current and previous landlords, as well as have a minimum of two years of renting history that can be verified. It is necessary to have a verifiable rental history for at least 24 months, during which all lease terms have been met satisfactorily. Applicants who have made late or bounced payments but have a good Landlord reference may be granted a higher deposit.
All occupants who are 18 years of age or older will be subjected to a criminal background check. There must be no convictions for felonies involving the manufacture or distribution of prohibited substances or physical violence against others in the previous seven years. A criminal history that indicates that an applicant's tenancy would pose a direct threat to the health or safety of others, or that an applicant's tenancy would cause substantial physical damage to the owner's or others' property, may result in the application being rejected.
This is a unique feature to check because it reflects how well an occupant will pay their rent on time and how devoted and considerate they will be to their landlord and the renting space. This section of the application form should contain full information about the applicant's current and previous employment. Information about the employer can also be added to it.
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