Boston condos for rent: Screening new tenants
When you’re renting Boston high rise condo you own, the outcome greatly relies on the tenants you end up selecting. Good tenants can help you make a profit while taking care of your property, but bad tenants could end up causing a lot of stress, property damage, lost money, and legal hassle. To find the perfect tenants for your Boston condo, you need to take the time to interview them and thoroughly research them. Before you rent to anyone, make sure to ask the following six questions.
1. Why Are You Moving?
There are plenty of valid reasons to move, like desiring a new location or needing more space. However, you should be cautious if the tenant mentions something like not getting along with a neighbor, not liking the previous landlord’s rules, or being evicted, as these answers could be red flags the person is a problem tenant.
2. How Many Occupants Will Be Moving In?
The fewer occupants you have, the less likely the property is to get damaged. Even if you’re not concerned about wear and tear, it’s good to ask this question because there are laws about how many tenants can safely fit in a property. Make sure to bring up pets as well. If you don’t allow pets, let the tenant know. Otherwise, you can discuss additional restrictions and deposits associated with pets.
3. What Kind of Work Do You Do?
Ask about the tenant’s career and income level to help you to determine if he or she will be able to pay the rent. A good rule of thumb is to select a tenant who makes at least three times the cost of your desired rent.
4. Can You Pass a Background and Credit Check?
Let your prospective tenant know he or she will need to pass credit checks and background checks before renting. If desired, you can ask the tenant to pay a fee for these services. Asking this question gives the tenant the opportunity to bring up anything that may be an issue before you even go through the process of a credit check and background check.
5. Are You Able to Pay All Move-In Costs?
Let your potential renter know about move-in costs such as first month’s rent, last month’s rent, and a security deposit, and ask if he or she can pay these amounts as soon as he or she signs the lease. A tenant who tries to pay in installments or delay the payments may have money problems that impair the ability to pay rent on time.
6. When Do You Want to Move In?
You lose money any time a property is empty, so be wary of potential tenants who want a later move-in date. Before you waste time reading applications and showing properties, make sure the tenant is planning on signing a lease within a reasonable time frame.
If you’re looking to buy a Boston condo for sale to rent out to tenants, there are many Boston luxury high rise penthouses, and condos in downtown Boston to choose from. With the help of a trusted agent from Ford Realty, you can find just the property you’re looking for. Call 617-720-5454 today to schedule an appointment
Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs
In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.
For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.
Charles River Park
Surrounding Communities of Boston
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.
Ford Realty Inc
137 Charles Street
Boston, Ma 02114