Questions to ask prospective tenants before renting out property

Managing a rental property requires time, effort and finances for its maintenance. With online portals such as Housing.com, one can find reliable tenants and also get services such as online rent agreement, online rent payment, etc. Selecting the right tenant for your home would involve negotiations on rent and discussions about the terms of the agreement. However, as a landlord, it is also essential to ask crucial questions for tenants visiting your property to make an informed decision.

What is the reason to move?

This should be the foremost thing a landlord should know about a potential tenant. The most common answers one can expect are relocation due to a job change or need for additional space for family. However, there may be reasons such as eviction or disputes. While a tenant may not reveal the truth, it is a question that should be asked so that one can make the right decision.

How long have you lived at your current house?

Renters who have been residing for a long time at one place are seen as more secure. So, if a prospective tenant decides to stay for five years or more, the landlord can ensure a steady rental income. Besides, such tenants are also perceived to have a good payment history, which is an advantage for landlords.

When are you planning to move in?

This is another important question to ask a potential tenant. If the tenant wants to move in immediately, it may be beneficial if the landlord is also looking to rent out his property soon. If not, then a landlord may have ample time to arrange for any repair and maintenance on the property.

However, one should note that tenants should give a notice of 30 days to terminate the agreement. Thus, if a tenant wants to move in early, he may be breaching the contract with his existing landlord. One should check this point with a prospective tenant.

How many members will be living with you?

Landlords should ask the number of people who will be residing with their prospective tenants and mention their names in the rent agreement. Rent agreements specify the occupancy limits, which allow only the renters whose names are mentioned in the agreement. However, guests of the renter are allowed to stay for a specified number of days.

Do you have pets?

Pet owners often encounter difficulties in finding properties on rent. Some landlords may have reservations about allowing tenants with pets. However, one should note that landlords do not have the legal right to refuse to rent out a house because the prospective tenants have pets.

What do you do for a living?

Landlords should check the financial situation of their prospective tenants by asking relevant questions. This is essential to understand how their property and rental income may be impacted by the tenant’s occupation.

Can you provide a rough estimate of your monthly income?

This question is closely related to knowing the income source of prospective tenants. The main reason a landlord should ask about a person’s monthly income is to establish whether the prospective tenant can afford to rent this unit and pay rent on time.