A famous book in property investment claim that seeking a good tenant is as difficult as obtaining a good employee. The reason is both tenant and employee is a tool of getting money. Bad tenant is as bad as bad employee. Both could make you loose your money. Below are some tips.
The process of getting good tenant is also similar as getting a good employee. You must advertise (either by small paste up advertisement or via web example http://www.mudah.com.my/). Interview potential tenant (where he work - closer is better, qualification, salary and reasons why he want to seek new house).
Most people believe that women is a good tenant. On some extend it is true but my experience with male tenant is not bad. They stay for a long time, could solve small problem (light, piping etc) and one of them even paint my house (with their own expenses).
My bad experience is with foreign student. The house will become dirty and sometime the payment is late. To compensiate the risk, the rent should be higher than renting to non-student.
Potential good tenant
- Small family (2-4 children)
- Young executive (minimum with diploma)
Potential bad tenant
- Foreign student
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