Types of Tenants You are Likely to Meet!
Tenants, you will either love them or want to evict them. The risk of hiring the wrong tenant is always there for any new or seasoned landlord. However, there are ways to find the best tenant and pick them out from the worst tenants you could imagine.
The kind of tenants you could come across can come in many forms; students, newlywed couples, unmarried couples, single working professionals and the list goes on. All of which would prove to be either the safest bet or make you have extra grey hairs for the duration of their tenure.
- The Stable Power Couple
- The Stable High Flyer
- The Student
- The First Jobber
- The Start-Up
1. The Stable Power Couple
One of the key factors why stable couples are ideal for one is because they are both earning a stable income and secondly, they work as a unit and are more likely to make sure they take care of the bills together.
The load of the cost of rent and the added utility bills are usually divided to make sure that it is all paid and taken care of on time.
They are also more mature and think of long terms benefits, so make sure you take care of them right, in return for being good pay masters and understanding tenants. Simple gestures of making sure the house is in tip-top condition is a great start or allowing them certain discounts for early payments.
This is the seasoned professional who is probably climbing up the ladder and wants to have a property to rent that isn’t just a normal master bedroom being shared among other tenants. There is a high chance they will take care of your property because they have passed the party days. Be wary though because they could possibly be a little bit fussy in terms of how you serve them as clients. Always be polite and always follow up with them if there are any complaints from them.
Students are the most common tenant in places like Klang Valley and any campus within a 5km radius. They can pay for rent, that is for sure. Their parents will be well able to afford the rent. However, it is important to screen check students before renting out your place unless you are okay with your property to be used and abused over time. It is important to screen-check students before renting out your place. If you are okay with your property being used and abused over time, meet up with students before sealing the deal.
4. The First Jobber
First jobbers are slightly more stable than students but haven’t reached the stability of a high flyer just yet. They are great renters, except for the chance of them being late on payment due to other commitments. The best way to handle such situations is to be upfront and honest with your tenant.
5. The Start-Up
Start-up companies are booming in Malaysia and thus need a space to rent out. These tenants are in between stable high flyer and students. The place will be more an office to the tenant hence taking care of it is already a given. Most won’t allocate for long periods of time and usually have all the good points for any landlord.
Which Types of Tenants are Your Favourite?
After reading the many types of tenants there in Malaysia, which is seems to fit your fancy? Almost make sure to check on them and screen check them regardless if they make the check list or if you a super easy quick and safe way of finding a tenant, have a go at SPEEDHOME!