Giving your property on rental which you built or bought with your hard-earned money is never easy. It is difficult for sure but it can also be very tricky especially when it comes to selecting the right tenants. As property managers, we know how important it is to get the rental application procedure correctly. Making mistakes can cause headaches later, such as managing uncooperative renters or legal issues.

In this blog, we’ll look at the common mistakes landlords often make during the process of rental application in Connecticut. Additionally, we’ll also share simple tips on how to avoid these mistakes. Whether you’re new to renting out houses or have been doing it for a long, being aware of these problems can help you avoid getting into trouble. Let’s get started!

Importance of the Rental Application Process

In Connecticut, the rental application procedure is important for property managers, tenants, and landlords. After all, it fulfills many important roles that increase the renting experience for both parties. The application includes every necessary information required by property managers or landlords to find the right tenant for a rental property. 

An example of an average rental application might have the following details: 

• Personal Information
• Rental History
• Employment and Income
• References
• Financial Information
• Pets
• Criminal History
• Reason for Moving
• Consent and Authorization for a Background Check, Credit Check, and Contacting References
• Signature and Date

When deciding whether an application would be a suitable fit for the property, you should consider all the information they provide. You can figure out if someone can afford the rent, for example, by checking their income and credit history. You want tenants who won’t fail on their payments and who will pay their rent on time, after all.

Furthermore, reviewing an applicant’s rental history and recommendations from previous landlords provides information about the applicant as a tenant. Look for tenants who have a reputation for being helpful, courteous, and responsible. 

5 Rental Application Mistakes for Landlords to Avoid

The rental application is one of the most important paperwork that both landlords and tenants require, as was previously mentioned. It’s important to make sure rental applications comply with fair housing laws and include all the details required for identifying which tenants are most suitable for your property. Landlords can ensure compliance with fair housing rules and select the most eligible and responsible tenants by preventing certain application errors.

1. Violating Fair Housing Laws
2. Accepting Incomplete Applications
3. Setting the Wrong Rental Rate
4. Charging Too Much for the Security Deposit
5. Rushing the Tenant Screening Process

Violating Fair Housing Laws

Fair housing laws and regulations should be completely understood by all landlords in Connecticut. 

According to the Fair Housing Act, It is illegal to discriminate against applicants based on protected characteristics such as 

• Race 
• Color
• religion 
• national origin
• sex 
• disability 
• familial status

Therefore, it is important to treat each applicant equally and fairly throughout the application process to comply with fair housing rules. For example, don’t base decisions on your preferences or dislikes; instead, consider simply objective standards. 

Accepting Incomplete Applications

Make sure that every applicant fills out the application completely and includes every required detail while reviewing rental applications. Although Incomplete applications, can’t give a clear and accurate picture of the applicant’s qualifications and may cause delays. 

Therefore, to reduce doubts and questions, make the application simple to understand. To help in your decision-making, encourage applications to provide complete details about their income, renting history, and references. 

Setting the Wrong Rental Rate

If you want to get suitable tenants, you must set a competitive yet acceptable rental rate. To find out the fair market worth of your property, thoroughly research the local rental market before deciding on a rate. After all, if rent is too high, it may turn off potential tenants, and if it is too cheap, it can make people wonder about the state of the property. Finding the perfect balance will still help you bring in tenants who appreciate the worth of your home. 

Charging Too Much for the Security Deposit

The rules and regulations in your state and city regarding the amount of a security deposit should be kept in mind.  For example, high-security deposits may discourage eligible candidates from applying and, may result in legal issues. Therefore, if you want to get in eligible, responsible tenants, make sure your security deposit is fair and within the permitted ranges. 

Rushing the Tenant Screening Process

Finding dependable and trustworthy tenants for your rental property depends significantly on tenant screening. Thus, ask tenant screening questions to each applicant, making sure to confirm their employment, income, credit history, rental history, and references. Remember that rushing through this process could cause you to miss important details or warning signs that could affect the tenancy’s quality. 

How to Evaluate Each Rental Application

To choose responsible and capable tenants for their property, landlords should carefully and with fairness review rental applications. In addition to this, use these suggestions to review applications to identify the best fit for your rentals.

• Check the Application: Look over the application to make sure that the applicant has provided all the required information and has completed every section completely.
• Verify Identity and Background: To verify an applicant’s identity, look up their identifying documents, such as their driver’s license. Do background checks as well to examine criminal histories and look for any possible suspicious activity.
• Verify Employment and Income: Ask for documentation to confirm the applicant’s employment and earnings. Pay receipts, tax returns, and employment verification letters are a few examples of this.
• Conduct Credit Checks: Ask your applicant if you can run a credit check. Then, look for a history of responsible financial behavior, timely payments, and any outstanding debts. 
• Check Rental History: Contact the applicant’s previous landlords to inquire about their rental history. Ask about their payment history, adherence to lease terms, and any past rental issues.
• Analyze References: You should contact the personal and professional references provided by the prospective applicant. These references can offer insights into the applicant’s character, reliability, and suitability as a tenant.
• Compare Applications: If you are receiving multiple applications, compare them against each other based on your established criteria. Avoid making decisions solely based on the first application without considering others.
• Consider Tenant Suitability: Verify that the requirements and behavior of the applicant suit the property. For example, a large family or renters with multiple pets can find a small flat unsuitable.

Conclusion

Understanding what to include and which questions to ask on a rental application in Connecticut is important for landlords and property managers. After all, when reviewing a prospective tenant’s application, the goal is to gain insight into their ability to respect the property and pay rent on time. Therefore, it’s essential to be aware of common rental application mistakes and take steps to avoid them when selecting tenants.

If you need help finding and screening potential tenants for your rental properties, you ask Idoni management. With a team of qualified property managers by your side, Idoni Management can help you find and screen qualified tenants for your properties. Get a 20-minute free consultation with experts. Contact us now!