Investing money in property is always safe and secure because money invested on a property always gets multiplied with time hence it is a profitable investment. There is no danger of monetary loss due to property purchase also, having property at your disposal can help you to make substantial income year-on-year which can increase your earning as well as help you to lead a luxurious lifestyle. After retirement one can reap huge benefits from purchased property by renting it for certain period at different intervals.
With ever rising inflation rate, these days are really very tough hence before renting a property one needs to make sure that their property is in safe hands. Renting of property helps in making money faster but there are few questions that need to be asked before the property is rented to anyone who desires to take it on rent so, before you rent your property make sure that you know certain things about your tenant before getting into a rental agreement.
May I know your roots?
First thing, one should ask a person about his nationality because one needs to know from where this person is from? This is necessary because various countries have different policies as far as renting of property to a foreign national is concerned. As for locals, one can track and trace their roots.
What’s your source of income?
Always ask about their source of income because there are times when people with criminal background take up a property on rent hence in case of police tracking them might just leave you and your property in a legal tangle so, make sure that you rent property to those people/families with good educational background and with known source of income.
Can you pay Security Deposit?
Make sure to ask them for security deposit because many-a-times people on rent don’t pay their monthly rent on time so in that case security deposit would help in recovering the money. Also, if there is any damage done to your property you can easily recover the cost through security deposit.
Be ready for Police verification?
Are you ready for police verification? Well, such a question might cause panic in some people not because they have committed a crime but normally people like to avoid police interrogation.
Make sure that police verification is done so that in case there is some criminal issue related to the tenant, you and our property will be safe and secure.
Can you maintain my property?
Maintaining property in good condition is a must hence as an owner you should make sure that your property is in safe hands so, make sure that you ask the concerned person about how he/she would take care of your property?
There are many questions that come in the mind of a property owner regarding safety of their property while renting it but the fact is that, monetary benefits that they stand to gain is enormous hence most property owners don’t try to check these questions and many of them get entangled into legal cases. So don’t be in hurry to make money just follow the above steps and be safe.