One of the best ways to earn a few extra bucks is to rent out a room or a house you don’t use. But with the money come a lot of responsibilities. A landlord doesn’t mind shouldering these responsibilities if the tenant in question lives in the house with dignity without causing any trouble. It is only when troubles begin to outweigh the amount of money you receive from them, you end up bidding adieu to your tenants. If you don’t want any such hassle to arise, choose your tenants carefully.
There are many things a landlord should verify about his tenant, so that problems don’t follow post letting the house on rent. If you are wondering what these things are, then reading on will certainly help.
Things A Landlord Should Verify About His Tenant
Learn about their family members– Before you give your house on rent, make sure the tenant has the number of family members you would like to accommodate. Since, only adults come to fix a deal, you might fail to find out how many kids they have, at the time of your first interaction with the tenant. So, ask outright.
What is their income? – This is an important aspect to verify, because you wouldn’t want to offer your house to someone who doesn’t have the ability to pay the rent on time and regularly.
Police verification– This is one of the most important things a landlord should verify about his tenant, for obvious reasons. You won’t want a criminal in your house, after all!
Why they are moving? – Are you not curious about why they have chosen your house, or why they are moving? Well, the answer from them could be as simple as, “Because our lease from our previous tenancy expired.” But knowing this is important.
References from former landlords and employers– This is a great way to know about the potential tenant in question. This will, in fact, answer many of the questions revolving in your mind.
Their credit report– Although there are many things a landlord should verify about his tenant, this point bears special importance. If your tenant denies to share their credit report with you, it must be understood that they have got something worth hiding. An honest individual with no credit discrepancies, should be more than willing to offer you their credit details.
If they have faced evictions before? – Verifying this is more important than you can imagine. If they have faced any eviction before, you need to know why. You wouldn’t want to risk yourself by giving your house to someone who defies the rent agreement. Would you?
Carrying a pet? – It’s important to know if the tenant is carrying a pet or pets. If they own a pet, they might have to sign a pet addendum. They will also have to make a certain amount of pet deposit.
The conduct of the potential tenant- Now, this is something you can’t verify with testimonies and documents, but you can always use your own judgment to figure out how well behaved your potential tenant is.
Rent escalation– Are you planning to escalate the rent on an annual basis? If yes, then you should let this known to the potential tenant. Ask them if they are okay with this clause in the rent agreement.
Marital status with the lady they are moving in– The potential tenant is seeking to move in with a lady? Find out if she is his wife, in case you want to give your house only to married couples. A marriage certificate should suffice for this verification.
These are definitely some of the most important things a landlord should verify about his tenant. So, if you are planning to rent out a house, make sure you follow these tips, to avoid unnecessary troubles.