By Dez Duran-Lamanilao
Renting out a property can be a time-consuming process if not properly started and executed. Finding out prospective tenants can complicate the matter and pose difficult problems to the owner. In order to avoid the pitfalls of renting out homes, it is important to ask questions that will be vital in your search’s success especially if you are looking for a harmonious relationship with the other party, whether it will be on a short- or long-term basis.
Let the following questions guide you in your search for that right tenant:
- Why did you decide to move?
Most landlords ask this question as soon as someone shows interest in their property. This is to gauge the real intentions of the interested individual.
- When are you moving in?
This will allow you to make the necessary preparations, if any, prior to the agreed schedule. Set or agree to an acceptable timeframe that will be beneficial for both parties.
- Who will be living in the apartment?
You could have most likely specified the restrictions for the property when you put up the announcement. However, it is better to have an exact idea how many people you are expecting, and whether they have pets, kids, or anyone worth mentioning. This is to anticipate any conflicts that such situation may bring.
- Would you be able to provide proof of income and letter of recommendation from your previous landlord?
If they answer in the negative, this is a warning bell that you should not ignore. Ensuring that the tenant is capable of paying the rent and has no suspicious or poor record with the previous landlord will save you time, energy and money. It is also advantageous on your part if you know what the tenant does for a living.
- The last question is for you: What is my gut feeling telling me?
If your questions are satisfactorily met and you feel positive about the other party, follow your instincts. If you have doubts, do not ignore that gut feeling and take the necessary action.
Bear in mind that how you project yourself to your tenant would set the tone of your relationship. Make it a professional one with a bit of personal touch. A well-balanced partnership is a key to a successful contract.