Renting out an apartment or a house is all about generating a source of added income for the landlord. Losing out on any part of the monthly rent or incurring additional charges to fix badly maintained apartments can be a great set back. Landlords are often at the receiving end of such financial trouble when they find that the application form handed in by the tenant is inaccurate. Learn about discrepancies in leaseholder applications that later costs the property-owner money.
- Inaccurately Filled Applications
In the absence of property management services, renter interviews are conducted by the homeowner. Studies prove that more than half of the leaseholders fill up indecipherable or partially inaccurate information in the form that homeowners fail to notice. In the event that the leaseholder terminates the agreement or gives a month’s notice; property-owners attempt to use the details given beforehand to settle the money owed.
Methods of recovery then go in vain when they find the application indecipherable. Sometimes deliberately falsified addresses, contact persons and even bank details show up, making recovery of arrears impossible.
- Indication of a Lenient Approach
When tenants see property-owners accepting poorly filled applications, many of them presume a slack attitude towards renting. This encourages them to default, be late with their rent payments and also makes people less careful with the maintenance of the property.
It is best to secure your rental income by going in for property management in Overland Park. The professionals will pay close attention to details at the time of tenant screening and ensure that you only rent to people who are completely responsible.