Giving your house for rent could be a good source of income capable of improving your economic status in no small measure. However, it could also turn out to be, at the opposite end of the spectrum, a not insignificant problem should the tenant fail to regularly pay rents, cause damage, in some cases even intentionally, or perhaps fail to pay condominium dues, thus forcing you into lengthy and costly legal action.
Our experience shows us that. there are individuals who enact certain behaviors in a premeditated manner and repetitive with the aim of profiting from your asset without expense for as long as possible.
Beyond the economic damage, let's not forget that all of this can result in stress and loss of time for you.
Then, How to recognize a reliable tenant ?
First of all, before you even sign the lease, you can request some basic documents from the applicant:
- A ID, e.g., ID card;
- L'last CUD and the last three pay stubs, if it is an employee;
- Or thelast statement income if he is a professional;
In addition, if possible, a letter of reference written by the last landlord of the house that the new tenant would leave.
We believe verification of this documentation is essential and certainly a good starting point, but you can do even more by relying on a good real estate agency.
The real estate agency could carry out some in-depth investigations that allow for verification of the financial and asset status of the new tenant to measure their real reliability. All this would be possible either by consulting some public databases or by taking advantage of services provided by private companies capable of performing these kinds of surveys.
These checks can reveal whether the person does not pose a risk if there are any protests or prejudices registered in the Land Registry; they can also reveal whether the person has appointments or holdings in companies, or even whether he or she has real estate in his or her name.
The latter eventuality can be particularly useful. In fact, a person who owns other property free of pendency represents a more trustworthy party in that he or she owns assets over which you might have recourse; indeed, he or she will be careful not to put them at risk.
So far we have highlighted a number of checks and surveys based on written data which help us in no small measure to frame the figure of the prospective tenant. A good real estate agent certainly makes use of these procedures. At the same time an experienced real estate agent, with years of rental transactions behind him, Is able to measure the reliability of a prospective tenant already based on various candidate behaviors.
Putting together all the information gathered as well as having the support of the expert eye of a good professional in the field will certainly help draw a very realistic picture of the subject you will be facing with only one purpose, to make you sleep soundly.
Would you like more details ? Do you have a house you would like to rent out and would appreciate our advice on the matter ? Call us at 0583.997201 or fill out the form below. We will contact you as soon as possible.