BY MANGALESRI CHANDRASEKARAN
mangalesri@ocision.com
Renting out your property is rewarding, until you bump into the 'horrible renters'.
The irresponsible renters tend to be careless towards the belongings in your property, which in the first place do not belong to them.
It is common for property investors to rent out their unit. That is the wisest thing to do, than to leave it empty. Yet, it is not always as easy as that. At some point, you might come across 'horrible renters'. They are the ones who will make you regret investing in properties in the first place.
1) The 'no-where to be found' renters
This is the type of renters that you only meet when signing the tenancy agreement. After that, they are nowhere to be found. You will even begin to question whether they are actually living in your unit or not. But just because they stay "invisible", it doesn't mean that they don't pay their rent on time. It's all fine and dandy if they pay on time, or else, they will make your life a living nightmare.
Ravindran Paniselvem, 34, is just another landlord who encountered the 'never-on-time renter'. It was two years back when he rented his double-storey house in Rawang to a young family.
"At first I received rental on time. Yet after sometime it stopped and I had to travel all the way from Kuala Lumpur to Rawang to remind my tenant of the amount due, as my calls are usually unanswered," says Paniselvem.
It was during the end of the contract when the tenants left suddenly without paying five months' rent. Some of the furniture belonging to the landlord were also stolen, as the house was rented semi-furnished.
"The deposit I collected from them only covered the electric and water bills, as well as for some repairs in the house," he adds.
Frustrated after encountering the horrible renters, Paniselvem decided to sell the house and never to rent out his house again.
2) 'Now you see, now you don't' renters
Some renters are just like a famous cookie's tagline:- now you see them and now you don't. Whenever the rent is not due yet, they are always available and it is never difficult to find them. But when the rent is up, you have to search every nook and cranny, and still won't be able to locate them. They will make you wonder, are they some kind of magician?
3) 'Never-on-time' renters
The never-on-time renters are the most common type today. They are mostly sweet talkers or the total opposite, and are just full of excuses. It is never easy to collect rent from them, and it's a slippery slope trying to vacate them from your property. Each time, they will have some kind of fascinating tale why they have to delay the payment or postpone it. It will just be a never-ending story.
4) 'Act like the owner' renters
This type of renters is the one that makes you feel like you're the renter, because they will act like the owner. They will be highly demanding or even rude. Again, not all renters in this category have trouble paying rent on time. Some are just there to annoy you, yet payment-wise, they are prompt. If they annoy and don't pay promptly at the same time, then it's time to wish upon your lucky star.
5) The 'irresponsible' renters
This is the most troublesome of renters that you will come across. The irresponsible renters tend to be careless towards the belongings in your property, which in the first place does not belong to them. They will always cause unnecessary problems that will cost you extra money to rectify the issue. The most common type of renters who fall under this category are students or group of friends staying under the same roof, without parental advisory.
So, what precautions can you take to avoid these horrible renters?
Buying a property and maintaining it is not an easy task, especially when there's a possibility of encountering these horrible renters. It is not easy to identify such renters, but landlords can observe the potential tenant's body language, to see if they are in a hurry or anxious to sign the agreement immediately. Also be cautious when potential tenants refuse to answer certain questions, such as the company they are attached to or the place they rented or stayed at previously.
It would be a smart move to do background checks on them, or to ask for their pay slip, just to make sure they are capable of paying the rent. However, being capable of paying rent doesn't always translate to on-time payments. If you do not want to deal with renters and their requests or bad behaviour, hire a tenancy management firm and leave it to them.
Even though renting out your property is better than leaving it empty, yet there are risks involved as well. Dealing with these kinds of renters can be very challenging and is a test of your patience. So if you haven't encountered such renters so far, keep your fingers and toes crossed that you never will!
