Newbie landlords and lessors have often complained about challenging tenants. When asked why, many admitted to letting tenants in without checking their backgrounds.
To ensure the selection of suitable tenants, prepare a list of questions to be posed during your initial meeting with potential renters. This approach will facilitate the identification of individuals who would align well with your requirements and preferences for your property.
But screening potential tenants can be a pain, especially if you want your unit to be leased out immediately. Preparing such list can save you time by getting rid of applicants who aren’t likely to be “good tenants”. By asking the right questions, you can also spot problems early on, so you don’t have to deal with an eviction later.
When you talk to a potential tenant, ask them open-ended questions. This way, you can get to know them better and see if your rental and rules work for them.
Another thing to think about is, “Who will be living with you?” A property with too many people living in it can make your place feel cramped, uncomfortable, and could easily damage your property, instead of the normal wear and tear.
To make sure your tenant pays rent on time, look for someone who makes three to four times the rent each month. Ask them about their job, how long they’ve been working there, and how they are doing financially.
If they are still renting another unit, ask them a few questions like, “How long have you been living there?” and “Why are you moving out?” Also, “Have you ever ended a lease early?” Knowing more about their rental history can tell you if they’re reliable tenants. It also gives you clues about their attitude towards their home, landlord, and rental responsibilities.
If you’re open to having pets, it can attract a lot of applicants. Ask them about their pets like the following: How many do they have? What breeds are they? How big are they? Do they get along with other pets? Make sure to clearly state any lease restrictions to avoid any misunderstanding.
Do you allow tenants who smoke? Some lessors do not let smoking because it can cause fires and other damage to the unit. Make sure to clearly state your condition and the potential consequences in the contract.
A friendly reminder – your questions shouldn’t replace a thorough tenant check. Reach out to their previous lessors for references to confirm their relationship with their landlords.
In the end, if there is a discrepancy between your expectations and their responses, err on the side of caution. Don’t forget to trust your guts.
* * *
Henry L. Yap is an Architect and Fellow of both Environmental Planning and Real Estate Management. He is one of the Undersecretaries of the Department of Human Settlements and Urban Development.
#PropertyReportFeature
#FeaturedStory
