Seven standard forms have been updated or created and are now available for use in rental transactions.
The forms are available through all of our electronic forms vendors and for members to print through the Printable Forms page of the PAR website. PAR members can access Guidelines for Preparation and Use on the Standard Forms page.
Six of the forms are updated versions of forms that were already part of the PAR forms library. The Residential Lease (RL), Pet Addendum to Lease (PAL), Change in Lease Terms Addendum (CLT) and the Listing for Rent (XLR) all continue to by their same names. The Rental Application for Represented Landlords replaces the Rental Application with Consumer Notice for Tenants (RA-CNT) and the Rental Application for Represented Tenants (RART) replaces the form that was called the Rental Application (RA). The fundamental difference is that the Rental Application for Represented Landlords has the Consumer Notice for Tenants at the top of it, while the Rental Application for Represented Tenants does not.
In addition, the Application Decision (AD) is now part of the library. This form meets the provisions of the Fair Credit Reporting Act that require a landlord to provide a prospective tenant with information about why a tenant’s rental application was not accepted.
Two of the rental forms in the library remain unchanged. The Advance Payment Addendum (APA) is used with a lease if deposits and other “advance payments” made by prospective tenants are being held by a Broker. The Consumer Notice for Tenants (CNT) is used instead of the Consumer Notice if a licensee is the actual owner or landlord, a direct employee of the owner or landlord of the property, or leasing the property pursuant to a property management agreement or an exclusive leasing agreement with the owner/landlord.
All of these forms are dedicated to the process of listing and leasing of a property. PAR is currently developing a set of forms to help members perform property management, which will likely be released later in 2013.
You can find additional information about these Rental Forms and the rest of our Standard Forms on the PAR website, where you can also send us your questions.