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A rental application is a form utilized by landlords to assess potential tenants for a rental unit, gathering detailed personal information to facilitate background checks and consumer reports. This video discusses the importance of rental applications for landlords, outlining what to include, potential application fees, and warning signs for tenants. It emphasizes that rental applications not only collect essential information but also help filter out less serious applicants and ensure that tenants can afford the rent consistently. Viewers are encouraged to download a rental application template and subscribe for more content from e-forms, a leading source of legal documents.