Top Tips to Getting the Tenant Induction Right Inducting your tenant is the most important appointment of the tenancy. Outlining clear expectations to your tenant in a face to face meeting before they get their keys will reduce the chance of complicated problems arising later. Be proactive in explaining everything upfront, to save wasting precious time later on reactively fixing problems that could have been avoided with a comprehensive induction appointment. Tip One Put it in Writing- when your tenant has been approved, before your induction interview, confirm their acceptance in writing. Outline in an email or letter to them: who has been approved, the address, the rent amount, start date, lease length, bond payment, how much they need to pay up front to take possession, if pets are approved (or not), any expenses like water and also any special conditions. This reduces substantially any chance of confusion that can cause unnecessary complications at the induction appointment or even later on. Tip Two Be Clear on Rent Payments- Insist with your tenant that the rent be paid on time every time and instruct them that if they know they will get behind, to inform you upfront. If they do fall into arrears, be clear on the steps you will take and when. Most important of course is that you do follow up with them promptly should this happen. Being consistent with following through on the consequences will ensure that you don’t lose credibility with your tenant. Tip Three Always in Writing- too many landlords rent property to tenants with a simple verbal agreement. Though legislation allows for this, common sense says you must always create and sign a lease outlining your agreement with terms and conditions that will protect you later on. Should the matter ever reach a tribunal hearing or court, not having a written lease spells trouble and could result in financial loss should your agreement be unclear and ambiguous. Doing it right from the start reduces messy complications later on. Tip Four Make Sure Payment is Received in Full- be wary of tenants coming to the sign up without the full bond and rent required in advance. Do not accept personal cheques and inform them of this beforehand. Be careful not to be swayed by a highly believable story of why they do not have the full payment. If a tenant takes possession and hasn’t paid a bond (or has just paid a part bond) it is difficult to enforce this after they move in. Even worse, it can cause serious complications later with your landlord insurance in the event of a claim.
Posted on: Wed, 02 Oct 2013 00:03:11 +0000
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