1. Employment Offer Letter (if you are working) or University Offer Letter (if you are a student)
It is something all of us possibly want to prevent and not be a part of but in reality, tenant eviction does happen and it can get messy at times. The process is not as simple as just texting your tenant to chase them away. It is crucial to ask yourself, “How long does it take to get a tenant evicted?” because it is surely not a stroll in a park.
Before we start, here’s what you need to know about Central Credit Reference Information System (CCRIS) that is controlled and run by Bank Negara and Credit Tip-Off Sdn Bhd (CTOS) that is done by private companies. The infographic below tells you the difference between CTOS and CCRIS:
Being a landlord has its pros and cons and sometimes you need some help with some of the problems you encounter. Thus the main topic of this blog will focus on the cons that landlords are facing. You'll also get some insights on how to overcome them, so no worries! The cons that are always talked about and almost every landlord would face are high tenant turnover rates, late payments, and organization. If any of these sound familiar to you then keep on reading. You might find some tips on how to get around them.
There are good tenants & bad tenants everywhere. And of course, you would want to be classified as a good or awesome tenant. That's how you can get to your landlord's heart and maybe even make a friend while renting a home. So before renting a house, make sure you know the do's and don't and put yourself in the landlords shoes.
A common problem any landlord will face, is finding a good tenant. Good tenants will vary and majority of the time, landlords will have different criterias for tenants. Some are looking for student others maybe working professionals. Regardless, it is good to know what can help in finding the right tenant for you.
What are the scary things about renting a house? Let’s get to the bottom of all the rental horror stories that we always hear about in the media.
You could be a landlord looking to rent out a unit. It’s probably an old apartment and your grandmother used to live there. Since you have no means to move into it and you’d still like to keep the unit because all the memories are sentimental to you, you refurbished the place, added new furniture and painted the walls. The apartment is now a minimalist living space for young and outgoing people to call home.
Then you put up advertisements, posters and even list it out on rental platforms saying the unit is available for rent. You even took the time to get a proper camera to take decent pictures of your place so that it looks nice on an ad. You’re well on your way start your career in the real estate industry as a landlord!
You hear stories from relatives and friends about the pains of being a landlord.
What if your unit doesn’t get rented out? You’d have to pay unnecessary bills like the utility and maintenance of the place. Plus, you’ve already put a huge investment in redecorating, it’s gonna take a while for you to earn back that amount of money if you don’t get it rented out soon.
If your own advertisements don’t attract any inquiries, landlords always turn to agents. Oh man, another add-on expense! If you’re lucky, you’ll get an agent who’s really passionate about getting your house rented out. And if you’re really lucky, you’d get a tenant who is not fickle minded and is desperate enough to move in (some tenants do have the time and luxury).
However, if the tide turns, you miiiight end up with these type of tenants:
Tenants who would die to negotiate your rental price and demand for more than what is needed for basic furniture.
The First Timer
These type of tenants just recently move out of their parents' house. Mostly college kids or just starting up with their career. You can most likely expect that these tenants do not know how bills work.
The tenant who keeps “forgetting” to pay the bills. The most common and casual answer you’ll get when chasing for payment is “I promise I’ll pay lah”. So you wait and wait until you get sick of waiting then the moment you want to evict them, they’ll send you a text saying “I paid already. Thank you”. And you being the nice landlord, you forgive this person and give them another chance. Also because you got your money already.
One word for these tenants - RUDE. They’ll just disappear without a trace like a phantom
… with your TV probably…
And other valuable furniture…
Now, take a deep breath.
So you’ve put up your house on listing and in less than a week a tenant comes in and seals the deal. Your tenant moves in, you get your first payment, they get the house key, you get your rental money and everyone’s happy.
You will be notified of interested tenants as soon as they submit a request to your listing. We will send an SMS & an email.
How do you make sure that the tenant you found is actually a “Good Tenant” who pays on time and doesn’t wreck your house? Read on, the most important tip is at the end.