Wednesday, April 21, 2010

Identifying Bogus Prospective Tenants

Some experience to be shared regarding tenants screening

1)Tenants who wants to move in hastily.

Be cautious. They might have been told to leave by their current landlords / chief tenants for reasons such as unsatisfactory payment , untidy habits , bad characters (intolerate).

If one is told to leave by the current current landlords / chief tenants, they won't be any better than before. My experience is to reject outright. Give 'em nice reasons, such as the house had been rented out.

Can even quote them an unreasonable rental rate, just to scare them away.

2)Tenants who negotiates to pay security & utilities deposits by instalment

This should be the last mistake to commit. One can NEVER rent a house to a total stranger, whom you just met for minutes, and trust them will pay the deposits according to the instalment schedule.

I committed this mistake by trusting the bogus tenant called Yogeswary A/P M Maniam. Not even lost 1.5 months rental uncollected, my ceiling fans, water heater and cabinet also stolen by her.

If the prospect cannot even afford to pay the security and utilities deposit, upfront and earnestly, is any landlord willing to take a chance, in case they won't ran away with whatever moveable ?

The following must be paid in full upon handing over of the unit (ie handing over the keys)

a) 2 months security deposit
b) 1/2 month utilities deposit
c) 1 month advance rental
d) Fee for preparing and stamping of the tenancy agreement

3)Do a checklist for all fixtures and fittings and run through them item by item with the tenant.
Must have the tenant to sign on the inventory list, in duplicate and be bound together with the tenancy agreement.

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