On the Real Estate Rental Market: Navigating Diverse Property Types and Client Profiles
The real estate rental market hosts various property types and client profiles. The main players are property owners, who provide space, and tenants, who seek it. However, when selecting the right tenant, owners often face dilemmas regarding pricing, market trends, deposit amounts, the reliability of foreign clients, and more. This is why many choose to engage a real estate agency as a reliable partner and advisor in the search for the ideal tenant. What criteria does a serious real estate agency consider when selecting tenants?
- Is the tenant a domestic or foreign national? If the tenant is a foreigner, it’s important to understand their reason for moving. If they plan to work in Montenegro, it’s helpful to know if they already have a job or intend to start one. While tenant reliability can never be guaranteed, every bit of information can be useful, especially if multiple candidates are interested in the same property.
- Where is the tenant employed? It’s essential to know if the tenant has the financial means to cover long-term living costs for a particular apartment or house. Tenants with well-paying jobs are more likely to honor the lease agreement in full.
- How many people will live in the property? Owners want to know how many occupants will be in the property. Some owners prefer only one person living in the apartment, while others simply want to be well-informed.
- Does the tenant have pets? It’s important to remember that pets vary in type and potential damage. For instance, a goldfish causes none. If the owner usually doesn’t allow pets but is considering it, they might allow certain types while increasing the rent or deposit for others. This way, both pet-free tenants and pet owners, whose numbers are growing, can find suitable options.
- Is the tenant a smoker? Owners are often clear on this matter—it’s either allowed or not. This should be confirmed before any official agreement is made.
- What is the intended rental period? If the tenant only wants a short-term rental, the owner may wish to adjust the price or opt out of that arrangement altogether.
Ideally, tenants should be filtered through all these criteria before contacting the agency. Since that’s not always the case, we advise owners to take a responsible approach to leasing and personally confirm any information not provided by the agency on the property viewing day. Ultimately, no method or tenant vetting process can guarantee absolute reliability, so it’s essential to protect oneself against potential risks landlords face. For more information on risks, click HERE!
We wish you successful and long-term rentals! 😄
