Having a rental business has a lot of benefits. You’ll receive payments monthly from your tenants and you can build a friendly neighborhood, which is especially nice when your house is near your tenant’s place. But having this kind of business also involves a lot of trusts. In order to build trust and assurance, you need to take note of some tips on how are you going to look for the right tenant.
An interview between the owner and the tenant is a must. It is known that landlords often decide who to rent by who they like, according to PopSugar. Here are some questions you may ask your renter to ensure they’re a good fit:
What is the reason for your move?
This is the very first thing you should ask. We all know that moving can be tiring and take a lot of our time and effort. Not all, but most people will just stay with their old apartment rather than move their stuff, pay deposits and advances, and build a new relationship with a new owner. Potential tenants should always specify why they want to move so that you, the owner have an idea.
May I ask about your monthly income?
We all know that it can be awkward to ask about the money another individual makes, but as the owner, you should be fully aware of this one, especially if the soon-to-be tenant will be paying you monthly. You should know if they are capable of consistent payment so that it will not be a burden to you as the owner. This will also determine if the tenant can afford the apartment.
When are you planning to move?
Most of the time, owners ask this question to be prepared for the tenant’s arrival. However, you should also ask this questions for security. If the tenant tells you that he will move tomorrow, it seems that the tenant is not that responsible. Most owners require at least 30 days’ notice to abolish or terminate a lease, and if he wants to move the next day, something is unusual. As we all know, there are different reasons for this matter like sudden job location transfer, but in general, if a person is responsible enough he will start looking for an apartment a month before his move-in date.
How many people will be moving with you?
Sometimes, couples or families will move to rentals rather than buy their own house, especially millennials who want an urban way of living and need additional people to afford an apartment in an ideal location. You must ensure who and how many people will be living on your property. The fewer people, the less hassle – and tenants should always respect that.
Will you be giving the deposit and first month’s rent upon the move-in date?
You should make sure that the tenant will pay you the full amount when they decide to move in. Do not make any exceptions when it comes to paying so that tenants will not take you for granted next time. Tenants will understand where you’re coming from!
Have you been evicted before?
This question is also important. Why? So that you know a potential tenant’s situation and give them a chance to explain what happened in the past. If it happens that the previous landlord had evicted them due to misbehavior, you might want to talk to them about this matter and give them advice. If and only if the tenant will not listen, you will always have the right to take disciplinary action.
Do you have any further questions?
Since you asked the tenant about themselves already, it’s time to turn the tables. Ask them if they have any clarifications, reactions, or added inquiries about your property. It is always good to reach out to them to make things clear and to avoid unnecessary circumstances.
These are some of the most important things you need to know from your soon-to-be tenant. Be sure to let the individual know that these questions are for your mutual benefit.