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Tips in Choosing Quality Tenants/Lessees

ggurl · 2 · 1538

ggurl

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on: Aug 15, 2014, 10:29 AM
For those of you who are renting out properties, whether commercial or residential in nature or plain lots, can you share some tips in choosing quality tenants:

So far, this is what I learned:
(1) Having a written lease contract with clearly defined terms and conditions;
(2) Requiring the tenant/lessee to issue post dated checks
(3) Collecting 2 months deposit, 1 month advance. the security deposit will cover for whatever damages the property will incur and unpaid utility bills;
(4) proper screening of tenants, if possible choose tenants with established business already.
(5) pay a visit to the rental premises from time to time.

Follow up question:
Here is the situation. My husband and I bought a commercial lot from my dad which has existing tenants. Their lease contract will expire on November 2014. We have decided not to renew their contracts anymore because they are always delayed in the rental payments. As of today, we have already furnished them Notice to Vacate. They are asking for an extension until January 2015.  I told them that the property was already sold to a third person -- hindi namin pina-alam na kami lang din ang bumili. I need your opinion -- I think 3 months is a reasonable time for them to look for other places to transfer naman, tama ba? In the lease contract that we signed, 1 month notice lang nga nakalagay doon.


pulubing_palaboy

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Reply #1 on: Aug 15, 2014, 01:01 PM
you are VERY fair and reasonable. stick with the contract terms. mas maigi sana kung notarized yung lease contract ninyo.

the lease contract i have with my tenats state they have to notify me at least one month prior to lease end  in case they want to extend their lease. then it's up to me to accept their extension; otherwise they're out at the end of their lease. no need for me to give them a notice to vacate.

also, i've had three tenants so far. the first two paid one year in full at the start of lease plus two months security deposit. my current tenant pays in advance every quarter. she also deposits the payments to either my philippine or US bank; my choice, one month ahead of time. i love my current tenant. she's been my tenant for two and a half years. i haven't raised her rent :)
« Last Edit: Aug 15, 2014, 01:16 PM by pulubing_palaboy »


 


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