Agreeing to a rent payment due date every month – and abiding by that agreement – is one of the most important aspects of a good relationship between tenant and landlord. However, not everyone pays on time: Some like to pay earlier, or in advance; others might be late a few days – or worse, weeks or longer.
When non- or late payment occurs, it’s a tell-tale sign that this tenant may not be very punctual in his or her payments for the rest of the lease period.
When that happens, here’s what you can do to help yourself: Have a face-to-face conversation with your tenant to re-establish the ground rules for lease payment. Whatever his or her reasons may be, be clear about the consequences of non- or late payment, such as possible eviction and legal action. Remember to keep communication channels open as it’s always better to try and resolve the issue amicably rather than having to look for a new tenant.
2. The Rule Breaker vs. The Conformist
Every landlord or building owner has a set of rules when it comes to tenancy agreements, whether it’s regarding pet ownership or guests in the apartment.
The conformist is the kind of tenant who reads the agreement thoroughly and will ensure that all rules are followed. This type of tenant is usually preferred – though, they can sometimes require more attention.
The rule-breaker, however, is someone who doesn’t pay attention to details and believes their occupancy affords them absolute rights to use the apartment as they desire. A tell-tale sign of such a tenant is when they feign ignorance when caught.
If you’re dealing with a rule-breaker, you might find it useful to meet your tenant to go over the lease agreement in person, so that he or she understands the terms of your agreement, especially with regards to pet ownership, overnight guests, and property damage.
3. The Destroyer vs. The Neat Freak
Most landlords hope their tenants will treat the apartment as their own. This is especially true if the apartment comes furnished. If you find that your tenant is a neat freak – that is, someone who loves to keep the apartment tidy and clean, you’re in luck. You can tell a potential neat freak when they want to know if you have any cleaning supplies stocked, for example.
The destroyer, however, takes little care of their surroundings. A tell-tale sign of such a tenant is when they repeatedly “accidentally” break things.
When faced with these tenants, you must make sure that they understand they are liable for costs if a property has been damaged. Arrange for a meeting with them in person and send them an email to ensure that all correspondence is properly documented. To protect yourself against potential destroyers, collect a security deposit and state within the contract that all damages must be reimbursed to you.
4. The Big-Budget Tenant vs. The Budget-Conscious Tenant
Learning to recognise these two types of tenants can quickly help you better understand their needs, which will work in your favour if you are eager to rent out your apartment. Actually, either tenant will be a breeze to have, as long as they are prompt in their payment and do not break any rules or items in the apartment, as the types mentioned above.
Bear in mind that one way to identify if a tenant has a bigger budget, is that he or she will show very little concern about rental price and will only be interested in comfort and convenience. In such a situation, you may want to spend more time discussing about the estate’s luxury features, amenities and exclusivity.
The budget-conscious tenant, however, is the kind of no-frills person who will not be interested in any luxury touches as these will be perceived as unnecessary which adds to the rental cost.
Have you encountered any of these tenants? Share and tag a friend who needs help identifying these types of tenants!