Knowing how to select a tenant

Posted by amy | Another Information,Real Estate Tips | Friday 20 January 2012 2:04 am

http://www.apartmentinvestorgroup.com/knowing-how-to-select-a-tenant-2.html
It is common that most problems arise because both parties know their rights and obligations. If you’re one of them, you’d better stop relying on the goodwill of the other party and put laws involved.

Time to cover the rent and keep in good condition the Leased Property are the main responsibilities of any tenant. Unfortunately this is not always the case and who pays the piper is the owner of the property. Then:
Who can you trust?

It is common for owners of a property is no longer driven by financial expediency, and after a quick contract, rent the farm to the first applicant, who immediately moves.

The consequences of these operations can be disastrous express, in the worst case the new tenant pays only the first month’s rent and deposit and never returned to pay anything until it is released, after trial at the expense of the lessor or landlord.

The law states that there is a leasing process when “the two contracting parties mutually undertake to meet their responsibilities.

One must grant the use or enjoyment of property, while the other should pay for that use or enjoyment of a certain price. ” And although the law so mark, the fact is that many tenants who break their part of the deal.

It is not wary of all stakeholders, but to take precautions to avoid future surprises, to consider the following tips.

There are currently alternatives to check the seriousness and responsibility of tenants such as:

Bank Guarantee. Legal dictionaries define this financial figure as “a payment guarantee issued by a person other than the principal.”

Therefore, it is equivalent to a bond, but the money is retained by the bank and also the tenant must pay for this “service.”

A bank guarantee of one year means that the new resident must give the bank the equivalent of 12 months rent, not to mention the payment of income bracket, at the end of the lease, the tenant recover that money, but meanwhile you can not count him.

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