- Joined
- 23 Jun 2015
- Messages
- 487
- Reaction score
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- Country
Ideas I've used and can swear by to keep a steady income from a residential tenant, without the headache of loss of rent, and keeping your property in pristine condition too.
Number 1
Avoid chasing bad tenants for £1000's of unpaid rent, and wishing you knew what their real name was so you could take them to court or at the least report them to their employers/police.
Collect as much information on the tenant of your choice, PRIOR to handing them the keys.
At the least, you will ask for their photo ID, National Insurance number Card. Photocopy them at your local post office and hand the cards back. No tenant will even think about trashing your place after you do this! maybe because they know this info will be used for a super speedy court case, and a bad credit rating.
Number 2
1.5 months deposit; if the tenants can't afford this it means they have no organisational skills to save money, and most likely once the 'cuckoo' tenants are inside, your rent payments will cease. Worst case scenario, you use this money ASAP and fix fixtures that they've damaged.
Number 3
Don't be soft; keep your tenants verbal conversations at 'arms length'; if you get personal with them they'll take advantage of you like a baby lamb ready for milk!.
Be professional, be a lady/gentleman, be human, most of all be fair, and use your common sense; be all the above, but never do anything your contract doesn't expect of you; trust me, they'll be 'testing the water' before they hit you with the "...I was wondering if you could come over sometime, I've got a problem..." You'll be cleaning their gutters, the leaves from the yard, the phantom door squeaks that you can't hear....
Number 4
If your tenant breaches the caveats in your lease agreement, be 100% professional! and using your best laptop, post them a letter, keeping it short and sweet! informing them of the breach and consequences. "...your rent is late by a week...if you delays the payment over the agreed 21 days, you will have made our agreement invalid..." Keep them on their toes, reminding them that you don't tolerate abuse of the agreement.
Most of the landlord program's on the box are always about shy landlords, the ones who fall for the "I'll pay it on Wednesday..", or "...I'm at my mums in Scotland, and I'll be home in two weeks, and I'll pay it in then..." (She/he texts from he bathroom, lights switched off) and had they done this or that, they wouldn't be in this mess.
Last but not least number 5
Never use texts to communicate. It's a must!
Make it clear from day one, " I won't answer texts... Ring me and talk, and explain your dilemma/ issue"
Bad tenants find it easier to run circles around landlords by sending a well written text, than using their vocals skills or lack of, knowing that they are bad at lying!
There are sooo many more things I could add, but a good landlord mentality goes a long way.
Number 1
Avoid chasing bad tenants for £1000's of unpaid rent, and wishing you knew what their real name was so you could take them to court or at the least report them to their employers/police.
Collect as much information on the tenant of your choice, PRIOR to handing them the keys.
At the least, you will ask for their photo ID, National Insurance number Card. Photocopy them at your local post office and hand the cards back. No tenant will even think about trashing your place after you do this! maybe because they know this info will be used for a super speedy court case, and a bad credit rating.
Number 2
1.5 months deposit; if the tenants can't afford this it means they have no organisational skills to save money, and most likely once the 'cuckoo' tenants are inside, your rent payments will cease. Worst case scenario, you use this money ASAP and fix fixtures that they've damaged.
Number 3
Don't be soft; keep your tenants verbal conversations at 'arms length'; if you get personal with them they'll take advantage of you like a baby lamb ready for milk!.
Be professional, be a lady/gentleman, be human, most of all be fair, and use your common sense; be all the above, but never do anything your contract doesn't expect of you; trust me, they'll be 'testing the water' before they hit you with the "...I was wondering if you could come over sometime, I've got a problem..." You'll be cleaning their gutters, the leaves from the yard, the phantom door squeaks that you can't hear....
Number 4
If your tenant breaches the caveats in your lease agreement, be 100% professional! and using your best laptop, post them a letter, keeping it short and sweet! informing them of the breach and consequences. "...your rent is late by a week...if you delays the payment over the agreed 21 days, you will have made our agreement invalid..." Keep them on their toes, reminding them that you don't tolerate abuse of the agreement.
Most of the landlord program's on the box are always about shy landlords, the ones who fall for the "I'll pay it on Wednesday..", or "...I'm at my mums in Scotland, and I'll be home in two weeks, and I'll pay it in then..." (She/he texts from he bathroom, lights switched off) and had they done this or that, they wouldn't be in this mess.
Last but not least number 5
Never use texts to communicate. It's a must!
Make it clear from day one, " I won't answer texts... Ring me and talk, and explain your dilemma/ issue"
Bad tenants find it easier to run circles around landlords by sending a well written text, than using their vocals skills or lack of, knowing that they are bad at lying!
There are sooo many more things I could add, but a good landlord mentality goes a long way.