PROPERTY MANAGEMENT
Protect your asset
How to handle rent defaulters
W
hether handling a rental property
personally or through a reputable
agent, the most crucial way to avoid
defaulting tenants is to be equipped with the facts
and knowledge of how to act decisively to protect
your asset as a landlord.
The first line of defence against this predicament is
the initial screening process, which should include
meeting a tenant face-to-face when the property is
shown initially as well as the collection of essential
personal information from the prospective tenant.
There is also the matter of vetting the tenant by
verifying employment, references, their identity and
conducting general background checks.
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Residential Handbook 2014
Using a professional rental agent in the vetting
process can be a massive benef it the landlord,
as their expertise and experience can prove to be
critical in these situations.
It is advisable that landlords facing the worst case
scenario should consider the following important
elements and possible recourse:
Communication
Often in a scenario where tenants have withheld rent,
they face an embarrassing situation and, depending
on the circumstances, may simply avoid contact with
the agent or landlord. At this point the landlord is
advised to get the ball rolling towards eviction or
another form of legal action.
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