How to reduce the risk of getting a bounced cheque from your tenant?
To secure yourself from it you need to make your due diligence in the very beginning – before you sign the tenancy contract. Any information related to the prospect tenant may help in getting more accurate tenant screening result. Never rely on the broker making it for you, broker’s duty is to get the landlord and the tenant put their signatures in the tenancy contract – that’s it!
- Profile of the tenant
Family, couple or a single tenant – it should match you targeted profile. As an example: to avoid the risk of sublease it’s recommended not to rent 4-bedroom apartment to a single person. Obviously, the matching profile of the tenant should be supported with valid documents.
- Rental history of the tenant
The tenant might be for years in the UAE, however it shouldn’t be considered as prove of outstanding rental history, mainly long-term relationships with previous landlords somehow proves it. It is less likely you going to have a problem with the tenant, referred positively by the previous landlord.
- Occupation & source of earnings of the tenant
Information related to employment status of the tenant defines not only the designation but also how long is the employment period of this tenant. Additionally, it is advised to ask for a salary certificate from your tenant before considering an offer with 12 cheques.