No Tenant is better than a Bad Tenant
Category News
Tyson Properties CEO Chris Tyson strongly cautions landlords against rushing into a private lease agreement and taking the first prospective tenant based on face value.
“It is far better to hire a reputable agent who will take the time to do the necessary checks and to find a suitable tenant. While this may mean a week or two without any rental income, it could save landlords time and money in the long run,” he says.
One of the most important things that an experienced and well-trained rental agent can do for you is to screen and do background checks on your prospective tenant. Through the Tenant Profile Network (TPN) an agent can check a prospective tenant’s rental payment history, account payment history and employment history.
“While these checks cannot guarantee that the rent will be paid on time, the Rent Check system introduced by TPN provides accurate records,” says Tyson.
Furthermore a rental agent should use a lease agreement that complies with the Consumer Protection Act (CPA) and the lease will clearly outline each party’s responsibilities.
“A good lease agreement will clarify exactly what the landlord is liable for and what falls under the tenant’s responsibility. This is vital to ensure a happy relationship between both parties and will help prevent any problems arising during the lease period,” he said.
Another important service offered by an experienced agent will be a thorough inspection of your property. The agent will record the condition of the property before and after occupation.
“When done correctly, both the landlord and the tenant win. Tenants are assured that they will get their full damages deposit back if they have maintained the property and should the tenant cause any damage, the inspection records will ensure that the landlord is within his full rights to use the damages deposit to restore his property to its original condition.”
An experienced rental agent will foresee any potential problems with a tenant and will be familiar with relevant legislation and their criteria, including the Consumer Protection Act, the National Credit Act, the Prevention of Illegal Eviction Act and the Financial Intelligence Centre Act.
“Finding a quality tenant is worth waiting for and worth paying for so choose your agent carefully – preferably one who has experience and a good reputation, and one who undergoes regular training,” says Tyson.
Author: Tyson Properties
