Big Game Lures

Big Game Fishing Tips & High Quality Lures

11 Ways to Avoid a Nightmare Tenant - Part 1 of 4

In trying to describe the best tenants, under the pressure of having to pay a mortgage bond each month, a lot of small problems of major importance can be overlooked.

Often unscrupulous tenants take advantage of situations. Some are very good To do this, and you should know what needs to be prevented.

The next 11 points are taken from real life experience of investors.

They had deal with such situations more than once. In all cases they had to head clear decisions in the field, without risking their investment or away good tenants due to excessive worry and stress.

1.Identify potential tenant on the first call

When talking to a prospective tenant telephone interaction in first, make sure you ask all the necessary details that identify the person. Your full name, phone number and perhaps email address. If they can return the call or email is not valid and rebound, the red light should go now. In addition, will help you identify if the full name given initially, if the same name written in the book of identification.

Some people walk around with many identities and false identification documents for reasons that you do not ever want to know. Double Identity has been found in two books of identification, for example, a representation of a married name and a single has also been found. You do not want to rent your property, which is one of its greatest assets, anyone who can not be identified and verified self-identity of the person. If a person has doubts about his marital status, can not decide if they are married or not, would be wise to reject his application.

If you can not identify and verify the person must immediately reject the application.

2. I Need the Keys in the morning!

This is an exercise well known for the occupation of property without due process and controls.
Be aware of last minute requests for immediate occupation. Some investors have faced a situation in which a prospective tenant calls to rent a building where it is essential to its occupation in the next day or two, sometimes even the same day. It is often said that the deposit is not a problem for cash with them, and pay cash as long as the floor same day or next day. The excuses are usually living with the family and had a fight, went out of town and have nowhere to stay, for some reason or another, and so on. The reasons are not important, the situation is facing.

If this is the case, the focus will be to fit all the procedures quickly. You will only have a couple of hours to the MIC and the NPT controls, obtain copies of IDs of the tenants and payroll income test and sign leases and give them the keys, all in a couple of hours. Although stressed, can be done and done successfully.

But If the tenant is not good and is trying to get the property, they will travel in these couple of hours. They will tell you that this is urgent and does not have ID with them, that their payrolls are at work and many other excuses. If, moreover, stressed that pay the bonus at the end of the month and show him the cash, you can make some big errors in these couple of hours. For example, do not complete the process, do not call a reference, no time to verify information on application forms, and can then finish with a tenant who does not pay and worse a squatter.

In this case, take your time, do everything with a clear mind, even if they are given the keys to the property in 24 hours or less, to ensure that in those 24 hours you have done all the necessary checks, leaving nothing out.

Ensure that, they filled correctly and complete the registration form Tenant, checked references, ITC and checks the RPT, and has received copies of the identification of the occupants of ALL proof of income, and that you signed the lease.

The main things you should never leave out of the process are the references, rather than verification work, identification and payroll. If you find a bad tenant, curiously not by the signature of the lease immediately, often without even read it, or the patience to explain. All that matters is that you do not know too much about them. If they intend to be bad tenants, lease or not, will matter in any way, but to put at ease, they will be very willing to sign anything. Investors often be fooled by a tenant will it only wants to sign the lease and give the money. That does not mean that he also wants to obey the lease, only because he is so willing to sign the document.

If you are honest with tenants at risk by some real reasons, they will do everything possible to provide all the necessary documents quickly and help you do everything necessary to complete the process successfully.
If you can not complete the entire process within the required time, is necessary to take a tough decision: take the risk that you could be entertaining squatters, or simply tell you that anyone give you time to complete the process you go to the next potential tenant who has the time.

Even if you do not find another tenant as quickly and you end up paying the deficit of the month, it would be much cheaper than wipe out the bad tenants and the costs of evictions.
Remember, you have no obligation to play the good Samaritan.

In the next part we will discuss what to do with complete information on application forms, references and tenants of their employment or lack thereof.

About the Author

Sean is a property investor and estate agent in Johannesburg South Africa. He is the founder of Property Investor Network a community knowledge portal. He also owns several other property related businesses and associated websites, including REPOSSESSION-STOPPER a service front-end for people wanting to avoid repossession.

Tenant Favorable Lease