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Landlords and property managers in South Dakota use rental/lease application forms to collect pertinent data from potential tenants when trying to lease a property. For them to process the application, the landlord will frequently demand a non-refundable fee. After the landlord has reviewed the applicant's records (such as their credit report), the property manager will determine whether to recommend or reject the occupant for housing.
Application Fee: According to law, a property manager is not restricted in how much they can charge for a rental application fee.
Security deposit: Except in cases where the landlord can confirm that the occupant might pose a threat to the property ( 43-32-6.1), the maximum security deposit is one (1) month's rent.
Like any other business owner, landlords in South Dakota should make sure they are knowledgeable about the state laws relevant to them. The document should include the information below:
You must provide a complete description of the subject property. This could be accomplished by categorizing the relevant property as a house, apartment, coop, or another type of structure. The dimensions and number of rooms in the mentioned property, as well as the following information, may also be needed. This section of the lease should also include the address (such as "Street Address," "City," etc.).
The applicant must provide all necessary information, such as their full name, date of birth, SSN, driver's license number, phone number, etc.
Verifying the potential tenant's financial situation is one of the tasks the landlord must complete during the screening process. Due to the importance of this information, which confirms the tenant's ability to pay the amount charged as rent, the landlord may be required to review the tenant's financial history as well as their employment history. A background check and credit check are the needed authorizations required from the applicant.
It is also important for the landlord to verify the criminal record of the tenant. As a result, crime will be intentionally curtailed to the barest minimum.
In most cases, the landlord will carry out a very thorough investigation to learn all there is to know about the applicant's capacity to pay the rent. As a result, the applicant frequently mentions employment income in his or her application. Name the company where the applicant is employed.
Letters of recommendation from the tenant's friends, previous landlords, and employers are required. The tenant's reference may be contacted by the landlord or property manager reviewing this application, so it is important to include the full name of this reference.
If everything submitted checks out, the landlord may extend a lease agreement to the prospective tenant. After the tenant reviews the lease agreement, signs it, and pays their security deposit then they’re free to move into the property.