how do i lease my condo?
I want to lease my condo. What are the most important things I should know? How do I avoid the most common pitfalls? How should I screen tenants?
- dzwreckLv 41 decade agoFavorite Answer
You should have a credit check run on the potential tenants, do background checks and meet them personally. You need to have a very good lease agreement drawn up to and you need to be strict and consistent on your rent collecting methods. Do not let them get away with late payments, have penalties and impose them. Otherwise, if you need to evict them the process could be delayed. Make sure you find out what fair rental value is for your condo as well. You don't want to rent it out for too cheap or sit on it for a long time because your proposed rent is way too high.
I read an article once on a very successful landlord. He stated he never had a bad renter in his whole time of renting properties, which he owned more than 50. His secret was that he arrived at the property ahead of time before scheduled so that he could approach the potential renters outside as they got out of their cars. He would peek into their car to see how they kept their car (clean, orderly, dirty, trash all over, etc...) as this showed a good idea as to how they would treat your property. He would also look at their shoes. If their shoes were very clean and well kept that said a lot about a person too. If they passed these two tests and the other basic things (as mentioned above) these were his renters. Sounds crazy but this guy swore by it that his methods worked.
- Anonymous4 years ago
You enable the administration corporation understand which you somewhat prefer to enhance your lease. they are going to hold your risk-free practices deposit and notice it to new lease. The lease can be greater beneficial. There would desire to be no expenses or credit exams in view which you're already in the condominium. you will sign a clean lease. you're able to desire to try this 2-3 months beforehand the tip of your present day lease.