Metropolitan cities are expanding, and you never know who will come to rent your property. The individual might be from the same or a different city, state, or foreign country. Can you trust a renter if they don't come with a reference? Indeed, rental management Bangalore can be a challenging thing.
It's also worth noting that you might be held responsible for not checking on your tenant, especially if they're involved in any illegal activities. As a result, it is typically preferable to do a background check of your prospective tenants before signing a Rental Agreement with them with the help of a rental management company. Here are a few options for verifying your tenant-
Checking of tenants through self-verification
You may also do a quick background check on the prospective tenant. This would take some time, but it does not take much work. You may use this as a major technique for cross-checking your renter because you will require government identity proof for the Rental Agreement.
You can ask the tenant to provide references in the city, or if the person is new to the town, they can provide references from their previous city. You may verify with the organization the prospective tenant works for; if they work for a reputable firm or MNC, the HR department will certainly have done a background check. Credit and criminal background checks may be more difficult to perform independently. But it can be carried out smoothly through a rental management company.
Requesting the tenant for their basic details
It's a requirement for prospective tenants to provide you with all the necessary details. Based on these details, you can determine if the tenant would be the right fit for you. A rental management company can help you determine if the tenant is genuinely based on the following details:
Check if the prospective tenant has sufficient Income
The tenant's Income will determine if they are capable of paying the initial deposit and the monthly rent. There is no consistent benchmark for deciding how much money is sufficient, but a tenant who works in a good company or owns a reputable business will pay the rent and the rest of the bills on time. To verify your Income, the tenant screening can include an employment check. Also, you can demand proof of Income in the form of payslips or bank statements, especially if they run a business or are an entrepreneur.
You can check with the tenant's previous landlords
When you contact the references provided by the tenant, they can give biased opinions about the concerned person. If you wish to be certain about your tenant, you can contact their previous landlords. This is your opportunity to find out a lot of honest information about the tenant. Previous landlords might provide truthful information about the person as a tenant. You may ask them the following questions:
Police verification of tenants
The property owner must usually provide the appropriate tenant information to the police and obtain a police clearance certificate. Landlords in Bengaluru, for example, can get the tenant's police verification application form from the Karnataka State Police website.
To do this, you must be a Bangalore resident, and the address to be checked (e.g., the previous residence of the potential renter) must also be in Bangalore. If there is a foreign national, you can obtain a Police Clearance Certificate (PCC) for Foreigners. There is also a Police Clearance Certificate for Indian citizens. Hiring a rental management company will make things easy for you by doing all the groundwork on your behalf.
Tenant verification through PropertyAngel
If you work with PropertyAngel, you won't have to be worried about tenant verification. Tenant verification is a part of the process carried out for finding good tenants. We have an extensive tenant verification and screening process to ensure that you land with genuine tenants. You have to call us or send us a message, and someone from the team will contact you to discuss your requirements.
Remember that the majority of landlords have encountered some tenant-related fraud. The amount of money lost due to this is believed to be in the crores! Not paying the rent, property damage, and legal expenses are all factors that contribute to this loss. Avoid these headaches by having your tenant checked with the help of a reputed rental management company.