Intermediate terms

Essential Tenant Finding & Screening Terms

This curated collection includes key terms that might be helpful when exploring tenant finding and screening. It covers the essential concepts and legal considerations involved in attracting, evaluating, and selecting reliable tenants for your rental property. These terms were selected based on common questions and areas where investors often need clarity.

Learning Path

Eviction History Check

An eviction history check is a tenant screening process that reviews public court records to identify any prior evictions against a prospective tenant, helping landlords assess risk and ensure lease compliance.

Intermediate2-3 min

Rental Advertising

Rental advertising is the process of promoting an available rental property to attract potential tenants, aiming to minimize vacancy and secure qualified renters efficiently.

Beginner2-3 min

Co-signer

A co-signer is an individual who legally agrees to be responsible for another person's debt, such as a mortgage, if the primary borrower fails to make payments. This arrangement helps primary borrowers qualify for financing by leveraging the co-signer's stronger credit and income.

Intermediate2 min

Landlord-Tenant Law

Landlord-tenant law is the body of statutes and ordinances governing the legal relationship between property owners and renters, defining their rights and responsibilities regarding leases, rent, maintenance, and evictions.

Intermediate13-14 min

Tenant Screening

Tenant screening is the process landlords use to evaluate potential renters, assessing their reliability, financial stability, and past rental behavior to minimize risks and ensure a good fit for the property.

Beginner15-18 min

Employment Verification

Employment verification is the process by which a lender confirms a borrower's current employment status, job title, and income to assess their ability to repay a loan.

Beginner2-3 min

Application Fee

An application fee is a non-refundable charge paid by a prospective tenant to a landlord or property manager to cover the costs associated with processing a rental application, including background and credit checks.

Beginner1-2 min

Rental History

Rental history is a detailed record of an individual's past tenancy, providing landlords with insights into their payment habits, property maintenance, and adherence to lease agreements, crucial for tenant screening.

Intermediate2-3 min

Lease Agreement

A legally binding contract between a landlord and a tenant that outlines the terms and conditions of renting a property, including rent, duration, and responsibilities.

Beginner18-20 min

Criminal Background Check

A criminal background check is a tenant screening tool used by landlords to review an applicant's criminal history, including convictions and warrants, to assess potential risks to property and other tenants.

Intermediate2-3 min

Rental Application

A rental application is a form used by landlords to collect information from prospective tenants, helping them assess an applicant's financial stability, rental history, and overall suitability for a property.

Beginner2-3 min

Credit Inquiry

A credit inquiry is a request by a lender or other authorized party to view your credit report, which can be either a hard inquiry (impacting your score) or a soft inquiry (no impact).

Beginner3 min

Qualified Tenant

A qualified tenant is an applicant who meets a landlord's specific criteria for renting a property, demonstrating financial stability, a positive rental history, and a clean background.

Beginner2 min