Finding tenants is quite a huge risk, as you do not know much about them when you are looking for people who could potentially rent out your property. Most of the time landlords are concerned only with the ability of the tenants to pay their rent. Some might think their tenant’s personal lives and schedules will not make much of a difference, but it is almost always the little things that end up causing discomfort and arguments between landlords and tenants. It is quite an important step to interview the prospective tenants before getting into any proper agreement and find out as much as possible about the tenants. If you are unable to figure out what you should inquire about from them, here are 7 questions that you should ask from them to avoid any issues later on:
1. How has your employment record been so far?
This is a very important question and should be on the top of the list of questions you may have planned out. If someone is hesitant or unable to answer the most basic employment question, you will know that he or she is not someone you can approve as a tenant. However, if they are open about their employment history, then you can ask them about where they work, how much they earn and whether it is possible for them to provide any references.
2. What are your move-in plans, if you have any in mind?
This may seem like an irrelevant question to you since you may feel it is none of your business to know why they are planning to move to a new place. But their answer to this simple question can answer a lot of questions on its own. You can find out if they decided to move due to some life-changing event that may have occurred in their life, if they have any pets or if there are going to be more people living with the possible tenant.
3. Is it all right if we run a complete background check?
Even though the potential tenant has to give you written consent in order to go ahead with the background check, if he or she refuses to allow a background check that is a huge hint for you to not hand over your property to them to rent out. Usually, if someone is not comfortable with a background check that means they have something to hide, like some credit issue they may have or are currently facing.
4. Can you clear up this issue that popped up during the background check?
When the possible tenant has allowed you to carry out a complete background check, then that gives you every right and opportunity to inquire about any suspicions that you may have about his or her background.
5. Is it possible to get in touch with your current landlord?
You can always learn the best way only through experience. So the previous landlord’s relationship with the tenant and his or thoughts about the tenant can really push you towards making the right decision about the prospective tenant.
6. Is it possible for you to pay the security deposit and first month’s rent at move-in time?
Before signing any official agreement, you need to make sure that the soon-to-be tenant faces no cash-flow problems of any sort so that there are no such problems in the future as well. So this question can really help you clear up any doubts that you may have about his or her cash-flow situation.
7. How are you different from the other people that are applying to rent out this property?
Since this is an open-ended question, it can result in the potential tenant opening up more about his or her self and discuss how they plan to contribute to the building. This will also help them to be more expressive about their ideas and mention a few things that set them aside from the other applicants.
If you’d like to talk more about the value of inspections, or you need help with Everest Property Management, please contact us at Everest Realty.
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