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RENT REASONABLENESS CHECKLIST AND CERTIFICATION NORTH DAKOTA DEPARTMENT OF COMMERCE/DCS SON 59386 (01/15) To verify that the rent for the unit you have selected is reasonable, find the address of
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How to fill out rent reasonableness checklist and
How to fill out rent reasonableness checklist:
01
Start by gathering all the necessary information regarding the rental property you are assessing. This includes details such as the location, size, amenities, and condition of the property.
02
Next, research the current rental market in the area to determine the average rental rates for similar properties. This information can be obtained through online listings, contacting local real estate agents, or consulting with other landlords in the area.
03
Compare the rental rates of similar properties to the rental rate of the property you are assessing. Consider factors such as the property's location, size, condition, and amenities to ensure a fair comparison.
04
Take note of any unique features or drawbacks of the property that may affect its rental value. These can include things like a desirable location, updated appliances, or outdated fixtures.
05
Complete the rent reasonableness checklist by indicating the rental rate you believe is reasonable for the property based on your research and assessment. Provide any supporting documentation or explanations to justify your chosen rental rate.
Who needs the rent reasonableness checklist:
01
Landlords: Landlords use the rent reasonableness checklist to ensure they are charging a fair and reasonable rental rate for their properties. This helps attract potential tenants and avoid any legal disputes or complaints regarding excessive rental rates.
02
Housing authorities: Housing authorities use the rent reasonableness checklist to determine whether the rental rates charged by landlords participating in government housing programs are reasonable. This helps ensure that affordable housing options are available to those in need.
03
Tenants: In some cases, tenants may also find the rent reasonableness checklist useful. It can help them understand whether they are being charged a fair rental rate and can be used as a reference when negotiating rental agreements with landlords.
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What is rent reasonableness checklist?
Rent reasonableness checklist is a tool used to ensure that the rent being charged for a property is fair and reasonable based on market rates.
Who is required to file rent reasonableness checklist?
Property owners or managers participating in government housing programs are required to file a rent reasonableness checklist.
How to fill out rent reasonableness checklist?
To fill out a rent reasonableness checklist, property owners or managers must compare the rent being charged with similar properties in the area and provide documentation to support the rent amount.
What is the purpose of rent reasonableness checklist?
The purpose of rent reasonableness checklist is to prevent overcharging of rent and ensure that housing assistance funds are used effectively.
What information must be reported on rent reasonableness checklist?
Information such as address of the property, number of bedrooms, rent amount, and comparison to similar properties in the area must be reported on rent reasonableness checklist.
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