Landlords who are looking for a trustworthy person to lease a property provide candidates with a South Carolina rental/lease application form. For handling the application, conducting a credit check, and ordering certain reports, the property manager will typically charge a non-refundable fee. The property manager will decide whether to draft a lease agreement for signing after the background checks are confirmed.
Application Fee: There is no upper limit on the non-refundable fee (no rule).
Security deposit limitations: There is no maximum breaking point for the required security deposit amount ( 27-40-410).
When a tenant applies for a rental, it is crucial that the landlord thoroughly investigates their credit history. A person's credit score reveals how much debt they might have and how likely they are to pay it off on time.
Tenant reference checks are a useful tool for screening prospective tenants and identifying any warning signs. Depending on what you're looking for, the results of your background investigation will be slightly different, but they will all attest to the tenant's identity. Additionally, they will investigate your criminal history on all levels—federal, state, and local. Most background checks also check to see if your potential tenant has ever been evicted and whether they are on any global terrorism watchlists or the sex offenders registry.
At all times, the rental application procedure should include requesting letters of recommendation from previous landlords. Once you've received the letter, you can follow up with a phone call. Additionally, tenants who have previously been evicted ought to be avoided.
Landlords are seldom asked for references from tenants who have previously been evicted. You must still confirm the legitimacy of the landlord, even if a tenant has given references.
Verify that the renter is employed by the company they represent and that the paychecks correspond to the company's records. Information is often withheld by employers. You will be accountable for verifying that the information you have with them is accurate. A letter of income verification is preferable, so ask for one.
To ensure that a tenant has sufficient funds to meet their obligations, it is a good idea to look up their financial background or tax returns. Look to see if their income is more than three times what they are required to pay in taxes. Even if a tenant doesn't have a job, he or she might still be able to pay the rent. In this case, you may need to ask for evidence of savings or other sources of income.
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