Finding The Right Tenants For Your Space
Category General News
Finding the right tenant(s) for your property is not too different from finding your first property; it's rarely going to be the first one you come across if it seems too good to be true it probably is, and in the end, it's going to come down to the smallest details. Not only that, but it's also one of the most crucial things you can do as a landlord.
With the right tenant, you'll get your rent on time, your neighbours will stay happy, and your property will be looked after. So, where do you begin? We'll show you.
Start with a few screening questions to narrow down the list of applicants. Find out why they are moving and where they are moving from. While you're on the subject, ask if they have references, from both their employer and their previous landlord(s). If they do, contact them and confirm their eligibility as good tenants. Get proof of employment, find out what their monthly income is after expenses, and determine if they can afford to pay the rental deposit in full as well as a month's rent in advance. Lastly, find out who they'll be living with and if they have pets - doesn't matter if they're the ideal candidate but their co-renter is a nightmare. You can ask all of these questions over the phone, or even better via email, that way you don't have to waste your time with chance-takers. Once they've passed your screening process meet them in person and get a feel for them. Don't underestimate the importance of a face-to-face meeting, looking good "on paper" is a lot easier than doing it in the flesh.
Even if everything else goes perfectly, there are a few things that you should be on the lookout for that may be cause to rule someone out immediately.
- Have they ever been evicted? Seldom, if ever, are tenants evicted unjustly. It's usually due to repeated missed payments, poor maintenance of the property, or blatant disregard for house/apartment rules. If they say, they were evicted for another reason contact their previous landlord and confirm it.
- Are they nit-picking? Chances are if they're already looking for tiny faults during the inspection they're not going to let up during their tenancy. If you're prepared to deal with constant calls about the smallest details, go ahead, but we advise caution.
- Have they supplied all requested documentation? If they're not willing to provide all the documentation, you've requested, and we're assuming you are reasonable, politely send them along their way.
So they've answered all your questions, haven't raised any red flags, and passed your face-to-face meeting with flying colours? Then there's not much more to do than draw up the paperwork, get the deposit and a month's (or more) rental, and arrange the date of tenancy. Good luck!
Want to rent, buy or sell your property on the Atlantic Seaboard or in Woodstock, Cape Town? Berman Brothers Properties specialise in listing and selling your property and we have a variety of available houses, new apartments and other real estate options to ensure that you find your next dream home. Contact us on +27(0)21 439 9030 to find out more about the latest developments.
Also make sure to follow us on Facebook and Google+ for the latest tips on the property industry, as well as some of the most relevant news where we unlock neighbourhoods for you. Follow us on Instagram to see some of the gorgeous images of real estate in Cape Town and to share some of your landscape pics. A-list your property with Berman Brothers Properties, where property is done properly!
Author: Berman Brothers