{"id":9445,"date":"2019-05-17T16:03:05","date_gmt":"2019-05-17T08:03:05","guid":{"rendered":"https:\/\/leasing.dmcihomes.com\/?p=9445"},"modified":"2023-09-06T08:24:42","modified_gmt":"2023-09-06T00:24:42","slug":"questions-possible-condo-renters","status":"publish","type":"post","link":"https:\/\/leasing.dmcihomes.com\/blog\/questions-possible-condo-renters\/","title":{"rendered":"Protect Your Investment: Questions for Possible Condo Renters"},"content":{"rendered":"

One of the reasons why a lot of people are investing in condos nowadays is because it could easily become a money-making venture. Since most condos such as <\/span>DMCI Homes condos<\/span> are usually located in (or at least in close proximity to) business districts, they\u2019re naturally appealing to employees who are looking to avoid the horrendous traffic in the metro by renting a place near where they work. Furthermore, condo buildings offer comfort, luxury, and security, making them attractive to young professionals, families, retirees, and expatriates.<\/span><\/p>\n

\"adultPhoto courtesy of mentatdgt<\/a> via Pexels<\/em><\/p>\n

So if you\u2019re looking for extra income, renting out your condo unit is definitely a great idea. But much like other \u201cgreat ideas,\u201d there are also possible risks that comes along with it. One such risk that you should carefully look into is renting it out to someone who\u2019ll cause you a lot of headaches. Possible problems from a bad tenant may include: late rental payments, constant complaints from neighbors and building administrators, habitual repair requests, and the tenant leaving mid-lease among others.<\/span><\/p>\n

How can you differentiate the bad from the good? Well, first and foremost, you should mention the house rules and criteria in your rental advertisements. If, for instance, pets aren\u2019t allowed in your condo building, then a simple \u201cno pets allowed\u201d on your advertisement would easily pluck out pet owners from your pool of potential renters. This will save you time as you wouldn\u2019t have to bother interviewing those who might not be able to comply with the rules from the get-go.<\/span><\/p>\n

\"bankingPhoto courtesy of Pixabay<\/a> via Pexels<\/em><\/p>\n

After bringing the number of potential renters down to only those who can comply to the house rules, you should be able to screen the remaining ones further by asking some questions about their renting history, employment details, personal references, and their lifestyles. This <\/span>tenant screening checklist<\/span> will help you determine if a potential tenant had problems with previous landlords or if they are capable of paying their rent on time\u2014basically know more about the people who you\u2019re going to be dealing with for possibly a long time.<\/span><\/p>\n

To help you out with your screening process, here are some of the <\/span>questions to ask prospective tenants<\/span> to see if they are the perfect fit for your condo rental<\/a>.<\/span><\/p>\n

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  1. Do you currently rent, and if so, where?<\/span><\/li>\n
  2. How long have you been living there?<\/span><\/li>\n
  3. Is your current landlord already aware you\u2019re moving?<\/span><\/li>\n
  4. Have you rented before? Where?<\/span><\/li>\n
  5. How long have you stayed there?<\/span><\/li>\n
  6. Have you ever been evicted before? If so, why?<\/span><\/li>\n
  7. Do you think your previous or current landlord will give you a favorable reference?<\/span><\/li>\n
  8. Have you ever had problems with previous landlords and\/or neighbors?<\/span><\/li>\n
  9. Have you ever had problems with the law?<\/span><\/li>\n
  10. Is it okay if I run a background check on you and\/or the people who are going to be living with you?<\/span><\/li>\n
  11. Why are you looking for a new place to live?<\/span><\/li>\n
  12. When are you planning to move in?<\/span><\/li>\n
  13. Where do you work? What kind of work do you do?<\/span><\/li>\n
  14. What is your monthly income?<\/span><\/li>\n
  15. Will you be living alone? If not, how many will be living with you?<\/span><\/li>\n
  16. Does any of you smoke and drink?<\/span><\/li>\n
  17. Will you be needing a parking space? If so, how many slots would you need?<\/span><\/li>\n
  18. Would you be able to pay for the two-month advance and security deposit at the lease signing?<\/span><\/li>\n
  19. How long are you planning to stay here? Are you willing to sign a 1-year lease agreement<\/a>?<\/span><\/li>\n
  20. Do you have any questions for me?<\/span><\/li>\n<\/ol>\n

    Of course, with these questions alone, you wouldn\u2019t be able to draw out all the info you would need from a possible tenant. Many of them would probably lie to you\u2014especially those who\u2019ve had problems from their previous landlords\u2014to get a <\/span>favorable <\/span>condo rental agreement<\/span><\/a>. The trick here is to get to know them better by <\/span>building a good rapport<\/span><\/a>. Here are some of the easiest ways to build a rapport with them.<\/span><\/p>\n