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A rental application is a form used by landlords to screen potential tenants, gathering detailed personal information and often granting permission for background checks and consumer reports. This video addresses the importance of rental applications for landlords, what to include in them, applicable fees, and potential red flags for tenants. It encourages viewers to access a rental application template and subscribe for more content from e-forms, the largest legal document database. The video highlights that rental applications help verify applicants' seriousness about renting and assure landlords of their ability to consistently afford the rent.