While it certainly is alluring to offer housing properties on rent at the earliest, care must be taken in order to select a good tenant. Selecting good tenants can greatly relieve a lot of pressure off owners and it also ensures a steady flow of rental income.
If tenants are not chosen carefully and later turn out to be troublesome, owners may have to deal with a lot of problems which may include:
- Damage being done to the property by the tenants
- Tenants not providing rent to owners on time
- Tenants refusing to vacate the premises
A good tenant on the other hand, can offer a number of benefits. There are many brokers and real estate agents who try and identify potential good tenants and then recommend them to property owners.
Characteristics of a Good Tenant
- Tenants who have a strict sense of integrity and honesty, which will help in building a trustworthy relationship with the owner
- Tenants who have a good creditworthiness is also essential as they will be in legal possession of the property while under the rental lease contract
- Tenants who have the ability to make payments on time throughout the period of the rental lease
- Tenants who exhibit a high standard of cleanliness
- Tenants who demonstrate a sense of respect towards other people
If an individual displays these characteristics among others, he can be deemed to be a relatively safe and good tenant.
Choosing the Right Tenant
When it finally comes to choosing the right tenant, owners will need to obtain as much information as possible from references, old landlords of the tenant and must also ensure to see the job or the employment record of the tenant.
Some questions that can be asked to previous landlords include:
- Was the procedure of vacating the premises smooth?
- How long did the tenant stay on lease and what was the reason for vacating premises?
- Does the tenant manage to pay rent on time?
- Does the tenant keep the property clean and well maintained?
- Will the landlord give property on rent to the same tenant in the future?
- Does the tenant have any other co-tenants?
While these questions may seem superfluous, it is important to find out as much as possible about the tenant before handing over possession. In case problems are not identified and possession is handed over, there may be a lot of problems and hassles that the owner will have to face.