lease agreement

Rushing Into Signing a Lease Agreement

lease agreementSo your Chico rental property is empty, and that’s not a good thing. But do not panic and think a tenant has to be in tomorrow, and be pressurized by your tenant, the most common mistake we see by novice owners is acting too hastily in trying to get the tenant into the property, not carry out all the sufficient detailed reference checks and worrying about voids. These are the most common factors in getting a bad tenant. You want to protect your investment, before giving that tenancy agreement, the tenant must go through due diligence.

I’m still amazed that you still have amateur landlords worrying about paying the mortgage next month and getting in the first tenant possible and some are not even obtaining a reference, not doing a background check and are accepting 2/3 months rent in advance and not worrying about month 4 of the tenancy – will the rent be paid? The real secret to good property management is attracting good tenants and making sure they are good before move in day.

You can never predict what will happen during a tenancy, your tenant may lose their job, a couple may split up, your tenant could be imprisoned, or the biggest factor out of all, they could just be in debt. But your job (or ours if you are a customers!) is to determine if they’ll be paying the rent. It’s like betting but with a lot more at stake. We prefer to stack the deck against you as a landlord.

Here are a few tenant screening tips from the pros (that’s us by the way!).