Choosing a Tenant with these 8 Tips, won’t let you Repent
Both the landlord and the tenant have defined rights and privileges. If both parties clear their queries directly at the time of the leasing agreement, it will help both to avoid the related problems in the future.
As a property owner, you should keep the below points in mind when you are looking for the correct renter for your leasing residential asset:
1.Can deposit rent on time?
The tenant’s ability to pay the rent is of extreme prominence. You can enquire for his employment proof like a corporate identity card or a letter from the manager. Some property-owners even ask for the pay slip, but tenants may be unwilling to share that with a landlord. You should examine what the leaseholder’s job title is, to recognise if he has the capability to pay your rent every month.
It is a custom exercise to take security money from a prospective tenant. Some countries or cities in the world ask for even equal to approx. eight to ten months rental, but the normal is between one to four months security. This is a backup option for the landlords, in case the renter does not pay the rent.
You must know about the tenant’s personal background. If he has relocated cities very often or is not working for long periods of time regularly, then it may be an indication of a wanderer. This type of tenant will make you looking for a new tenant very soon and hence, should be avoided.
Some property owners ask for an inquiry from a former landlord. If the tenant refuses to give one, that is a doubtful sign. When you consult to a former landlord, you should enquire for any issues that he might have confronted with the potential renter. Did he punctual in the terms of paying rent? Did he take care of the property? All these are the main questions for you to measure the tenant’s appropriateness.
This is a significant benchmark for many proprietors. Most of the landlords choose families, state that families signify stability and they also retain the leased properties clean. Some landlords want employed bachelors, mentioning that they do not seek so many repairs or maintenance of the property. The same can be said of working ladies. This is all about a landlord’s wish, and sometimes, the secretariat department of the society or colony has guidelines also concerning the type of renter that a property can be leased out to.
6.Count of persons
As a landlord, one can review that how many individuals will be staying in the property that you are renting out. Most of the times, tenant, and the landlord sum up their conversation and negotiation with one person and after that you may be astonished at the genuine number of residents in your property. You must ask frankly, how many people will be residing there, and should mention what are the limitations.
7.Type of food intake
In some regions, a certain number of landlords look for occupants with particular food selections, due to specific reasons. If you are included in this category, you must say this honestly so that there will be no conflicts later. You should state this to a tenant representative, if you are hiring, and also mention this in any online advertisement.
Some property-owners mention completely that the renter cannot keep a pet in the buildings, some have not any issue or pet-loving and some do not state. If you have any particular likings about keeping a pet on the property you are leasing out, you should mention this to the potential tenant in your starting discussion itself.
So, when you are selecting your tenant, you should go with one that suits perfectly according to your requirements.