Your property is your greatest possible asset. Consequently, taking care of the property is indeed one of the most important things. However, if you want to make sure that you can earn some extra pennies out of it, finding the right tenant could be extremely important.
There are professional property management companies in Glasgow who can streamline the process for you and find the best options available. But how do you understand which tenant works the best for you and would not cause too much trouble? Some golden rules can help you in this context.
Finding Reliable Tenants in the Best Possible Way – Simple Tips
Some of the simplest factors that you have to be sure of with tenants are:
- Conduct Background Checks
If you want to make sure that you are hiring the best possible tenants, then going through an immersive and deep background check is extremely important. This will make sure that you can know exactly who your tenant is and whether it is safe for you to get them onboard.
Whether you manage the property yourself or use letting agents in Glasgow, prompt and transparent communication can prevent misunderstandings. Background checks become extremely important in this case.
- Financial Stability
When you hire someone as your tenant, it is extremely important to make sure that you are aware of which financial background they belong to. Afterall, you are letting your property so that you can get some financial help.
When you take up tenants, make sure that you ask them about their source of livelihood. You can also choose to check payslips and bank statements to understand if the person is fit to pay you the desired sum of money every month.
- Verify the Identity and References
Not only going through the record of the tenant, but you also have to be very sure that you are assessing the identity and references of the person. For this, you can confirm the identity of the person with the help of resources like a passport, driver’s license, and similar documents. This will help you get an idea of the background.
When you go through the past records, you will also be able to have a deep understanding of what the prior history of the client looks like. This can help you to draw patterns and then make a judgement.
- Request a Security Deposit
When you are hiring a tenant, let’s be very honest, you do not know them well. Consequently, you do not have a guarantee of how they will turn out and whether they will pay you on time or not. This is why it is very important to make sure that you take a security deposit.
The security deposit is quite a percentage of the rent, and in some cases, it is also a month’s rent in advance. Usually, when the tenant is all set to leave the premises, the security deposit gets adjusted. You can discuss with the tenant and formulate your very own security deposit measures.
- Handling Tenant Disputes and Complaints
Just hiring and setting up the rent system is not going to be enough. Hence, you have to learn about how you can handle the tenant-related disputes with more maturity. Some of the common ways in which you can address the disputes and complaints are:
- Communication Channels
You have to be very sure that you are having the right medium of communication with your tenants. Often your tenants will not bother you and hence it becomes difficult for them to let you know about the problems. Hence make sure that the reporting channel is proper. This will prevent misunderstandings and help you with clear communication.
- Address Maintenance Requests
A very common tenant related issue that you will come across for most landowners is how to maintain the records. On the other hand, ignoring the service requests for long can lead to long term disagreements and often dissatisfaction and legal issues. You have to be very sure that the documents you maintain are updated and can be accessed as and when required.
- Resolve Rent Payment Issues
As a landlord there are chances that you have to resolve issues when the tenant has failed to pay you with rent. If it is a first time occurance, you can send the tenant a friendly reminder and then check on why this failure happened in the first place. However, if it has become a practice, you need to intervene more practically and maintain your stance. Make sure that there is compliance with the legal structure and documents.
- Follow Legal Process For Eviction
If you want to evict your tenant, it is important to recognise that there is a complete legal procedure. If you do not follow this process, there are high chances that you will end up in legal trouble.
Always make sure that you have served the appropriate notices and given the tenant enough time before eviction. Usually, the nuances of eviction are also written in the legal document and have to be followed with scrutiny. Seeking assistance from property management companies in Glasgow can make the process smoother and legally sound.
How Can Property Management Companies in Glasgow Help?
If you are finding it extremely difficult to manage your properties all by yourself, then it is important to make sure that you seek immediate professional assistance. One of the best ways to achieve that is with the help of professional property management services. There are specific letting agents in Glasgow who can help you in this context and help you with a professional approach to the service.
Conclusion
Finding yourself a good tenant and being able to manage the same with efficacy takes a lot of time and effort. The property management costs in Glasgow are also quite affordable if you can find the right option. One such option that you can consider at the moment is Chalmers Properties. With years of experience and one of the best service repertoires, you will be able to get professional services, but at a budget!
