Here are the tips to make sure you have the right tenant to serve your monthly installment!!
1. Filter by yourself , not agent
In the first place, selecting the right tenant for your property is the key point, to avoid those nightmare happened again!! Some of the owner, they leave everything to their agent, they trust the agent is going to bring a quality tenant for them. Yup, this may be true if the agent you appointed is really put effort on this, but some of the agents, they just want to earn their 1 month commission, quality of tenant is not their first priority!! So I’ll suggest that the owner shall filter the tenant by themselves!! Interview your future tenant, get to know them, what’s their occupation? how many years they’ve working with the company? how many members of family? how many of them are working? etc.
2. Make sure payment on time from the beginning.
You have to make sure your tenant pay on time from very beginning, not until when the bill become too big , that the tenant won’t be able to pay, eventually deposit collected not enough to cover the bill! Make sure the tenant show you the payment slip for the monthly rental, make sure they clear the water, tenaga and indah water bill every month. Believe or not, you are the only one that shall take in charge, not your agent, unless you pay them for the management of the property.
3. Pay your agent to do it.
That is market practice, that agent will help to manage your property, they will help to take care the maintenance of the property, from small thing like changing light bulb, to big thing such as repairs leakage problem. The standard charges will be 5% of the rental, but of course the cost of repair shall bear by owner.
4. Sign 1 plus 1 first, instead of longer tenure.
Before get to know your tenant, normally we suggest 1 plus 1 year tenancy shall be considered at the beginning. If after 1 year tenancy, you feel comfortable with your tenant, you can consider to prolong your tenancy tenure.
5. Check your tenant credibility, currently the credibility checking system available for public is CTOS
6. Always not forget to get your tenant’s details, including contact number, ic copy, working company details, so you know how to contact them when they are not paying you rental!
7. Last but not least, Go and visit your tenant once in a while, make sure the property still in good condition, of course with the tenant permission!! I’ve met one of the owner, just simply step into the property without giving notice to tenant, feel bad for the tenant.?
But if you are not lucky enough, you’ve encountered a very bad paymaster tenant, don’t simply go and lock the door, you will get sued. There is real case happened, whereby the landlord ordered the agent to lock the apartment, both ends up in police lock-up!! Here is the news appeared on The Edge Property.