A Tenant Bank Verification Form is a legal document that is to be filled by every applicant along with the Rental application. This form is a part of the Rental Application Form that can be added as an addendum along with the Employment verification form.
Through this form, the Tenant is giving Landlord, a right to perform a credit check to know the creditworthiness of the Tenant. However, this can be done only after the Tenant has given a signed approval. In case the applicant is not ready to allow the Landlord perform a check, he/she must return the papers and look for another rental property. Through this check, the Landlord can authorize the bank of the tenant and verify all the information that has been provided in the Rental agreement form. By filling this form, you’re going to hold that you won’t be claiming anything against the Bank or the Landlord.
Step by Step process to Fill the Tenant Bank Verification Form
- The filling process of the Tenant Bank Verification Form is pretty simple and authentic. It contains three different sections that are to be filled out of which, two by the prospective Tenant and one by the Bank of the Tenant.
- The first section of the form is to be filled by the Tenant with the details like his Name, Current Bank’s name, Address, Phone number, Email Id and the contact of the person, Bank Account Number, Other Accounts, Date of opening the Bank account, Average Balance in the account.
- The second section of the form is to be filled by the Bank, that the Tenant has provided.Therefore, make sure that you have stated all the right details.
- Once you’re done with filling the respective details, you will reach to the last part which is the acknowledgment part. Stating that you’ve completely authorized the power to the Landlord in performing a credit check, the Tenant and Witness should sign and date for the document to be executed.