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How To Find The Right Tenant?

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With many real estate portals being available online, finding tenants no longer seem to be a problem for landlords, but perhaps, finding the right tenant for their property poses to be a major challenge. If you are a property owner looking for an easy solution to this problem, then here are certain tips to ease the process of screening tenants for your property on rent.

Tips to find right tenant

Fixing Rent and Security Deposit

It is the first thing every landlord has to think about before choosing a tenant for the property being rented out. The landlord/owner of the rented property has to set rent and security deposit such that it is neither too high nor too low than prevailing market rates. If it is either high or low, that leads to suspicion in tenants’ minds which may end up in losing them.

Means of Advertising

In this internet-driven world, there is no need to panic about advertising about properties available for rent. Posting rental ads on real estate related websites is the most cheapest and easiest option to attract tenants. Posting your property details on the Internet would take lesser time than hanging a ‘To Let’ in front of the main gate of your rented property. Displaying few pictures of your property will add much value to your ad and is also time-saving. Only those interested in your property will come to visit. In case you are not interested in online ads, you can rely on some of the local newspapers to advertise your property. Some of the newspapers even allow you to post ads free of cost.

Impress Your Tenants

Give a warm welcome to the tenants who show interest in your ad and come to see the property. Generally, even if a tenant likes a house/flat being rented, but do not like the landlord or his/her attitude towards tenants, the tenant mostly prefers not to proceed further. Keeping this in mind, as a landlord, if you handle the tenants with much attention and patience, it will really make a difference.

Be Honest And Explicit

Rather than hiding some of the facts related to property, landlords have to frankly tell about all the pros and cons of their property. If things are kept hidden in the beginning, it may spoil the tenant-landlord relationship. Eventually, when the hidden facts about the rented property gets revealed after the tenants move into the property, they may soon choose to move out.

Not only about the defects of the house, but it is also important that you tell the tenants upfront about your conditions, if you have any. Some landlords do not allow pets, some do not like their tenants having too many visitors, while some may not prefer non-vegetarians to be their tenants. Whatever your condition is, do make sure that you openly discuss it with your tenants way before they shortlist your property.

Be A Good Listener

Apart from telling them about your requirements and conditions, it is equally important that you listen to the tenants. Be very attentive when the tenants say something as it not only helps in knowing them better, but also gives you an idea of whether or not to rely on.

Ask questions about the tenant’s past and present, to find out whether he/she is financially stable, which means he/she will be able to pay rent without delays or any excuses.

Do Some Research

Engage the tenants in a brief talk and find out about their background. Also try to get some references to know if the tenants have any suspicious issues or faulty behavior. Try to figure out if the tenant has stayed long enough in his previous rented properties or has often shifted houses.

Ask the tenant to provide a copy of his/her identity proof and valid address proof documents. It is advisable to collect a copy of the previous rental agreement along with the present landlord’s contact details from the tenants. Communicate with the tenant’s present landlord to find out how the tenant has been dealing with him so far. By doing this, you can find out whether (s)he has been regular about payments and if (s)he is trustworthy.

Police Verification

It is important to check if the tenant has any criminal background or has been booked for fraud cases or so on in the past, especially when the tenant is completely an unknown person to you. Although police verification is a ‘must’ to do, not many landlords bother to seek the help of police.

However, consider yourself lucky if you get tenants through references from someone you know well, as it reduces much of your efforts. But in case you are renting your property to a complete stranger from some remote place, then make sure you discuss upfront about every small detail.

Things discussed orally will serve no proof in case any unwanted problems occur in the future. Therefore, it is important that everything should be put in writing, in the form of a rental agreement and also be signed by both the property owner and tenant, even before letting the tenant in the property.

Rental Agreement Is Only A Few Clicks Away!

A well-drafted rental agreement with all the clauses mentioned in it will avoid all the risks associated with renting a property to someone. If you are planning to create a rental agreement, then you can do it with LegalDesk by filling a readymade template of rental agreement. All our templates have been legally verified and are well-detailed and customisable and can be cretaed within a few minutes. You can either get the agreement printed on Stamp paper by yourself or place an order for home delivery, following which we will buy Stamp paper, print your document and deliver it to your address. Now just click the button and get started!

31 Mar, 16

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  • ***How To Deal With A Tenant Refusing To Vacate?*** says: posted on 30 Sep, 2016

    […] every tenant is eager to find a pleasant place to stay, every landlord too would wish to have a good tenant in his/her property. At times, landlords might ignore certain basic checks before leasing out […]

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