September 9, 2015
How To Select The Best Tenant for your Property? Five Essential Tips!
The landlords or house owners are often seen complaining and cribbing about the tantrums that their tenants throw. Trust me, choosing a good tenant for your property is essential for your peace of mind. Now, you wouldn’t want to give your PG in Delhi to someone who is probably known for his anti-social activities and might use your apartment or house to run a sex or drug racket. You will get in trouble unnecessarily for something that your tenant has done. So, in order to save yourself from all these troubles, you need to invest time and screen the tenants before opting for one. Here are a few tips that can help you to select the best tenant:
Run a Background Check:
Know the person you are selecting as your tenant. Looks are deceptive so run a background check on the person and try to find out as much as you can about the person. If possible, try to get hold of contact numbers of your tenant’s old landlords as well. Contact the person’s current employer also.
Make your tenant fill out an application form:
As a owner of paying guest in an Indian metropolitan city, you need to be aware of your tenant’s personal information including the mobile number of his emergency contact. So make your tenants fill out application forms where they will be asked to provide their personal information such as name, address of his/her permanent residence along with contact numbers of his relatives or family members staying in the same city, his occupation, professional details, blood group.
Set Your Preferences :
You need to first figure out your preferences first before giving your property away for rent. Are you looking for a bachelor or bachelorette for your PG in a densely populated city like Delhi or Kolkata? Will you be more comfortable giving your apartment on rent to a bunch of workingwomen or male students? You are the owner of the property so you have every right to opt for the kind of people you would be comfortable giving your property too.
Enquire about his/her Lifestyle:
Having a clear idea as well as understanding of your tenant’s lifestyle choices will help you to figure whether you are at all interested in giving your house or apartment to him/her. Does he/she drink? Will she or he be bringing friends over? Will there be late night parties? You might not have a problem with whether your tenant throws a house party every weekend, but if you do,then it is better to look for other tenants.
Get hold of a credit report:
If a person meets all your criteria and comes across as an eligible candidate, you need to ask for acredit report, finally. A credit report will help you to understand how financially stable your tenant is. You need to make sure that you are opting for someone who has a regular job and earns enough to pay the rent on time. You should also ask for one or two months’ advance as a security deposit.
Now that you know the factors to consider before selecting a tenant, start looking for one. GoodLuck!