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28/07/2020 | Rent out my property

What makes a perfect tenant and how to find him?

What makes a perfect tenant and how to find him?

You wish to find a tenant for a property in Switzerland? In big cities, where the market is strained you may hope for dozens of candidates. But how to make sure you find a person who pays his rent without delay and takes care of the apartment is another thing entirely! You may search the perfect tenant by yourself or entrust this task to a professional.

On the markets with insufficient housing, as in many Swiss cities, there are plenty of candidates and the apartments for rent never last empty for too long. You may expect to receive many requests which, at first sight, might appear as interesting as others. Which should you choose? How can you identify the tenant who will pay his rent regularly, keep the apartment clean and won’t disturb the neighbors. In short ‘the’ perfect tenant, the one who does not cause any trouble and stays this way for a long time. Even if there is no recipe for success, it is your right to verify certain documents in order to avoid late-payers or troublesome tenants.

Let a professional find a perfect tenant for you

Having little time, no energy or bad experience in the past, there are many reasons why owners often prefer to leave the uneasy task of verifying potential tenants to skilled and experienced professionals. Real estate agent will take care of visits and introducing the lucky candidate to your property. He will also act as intermediary between you and your tenant (or tenants). If you still wish to carry out the search on your own, you better follow the same procedures as used by professionals and most importantly request a security.

Steps you need to take if you wish to find a perfect tenant

  • Set the right rental price

Living with overpriced rents may discourage the tenants from renting for long. On the other hand, if the rent is too low, which is rarely the case given the general shortage of apartments, you may be unable to cover your costs, in particular if you have contracted a loan for buying the property intended for rental purposes. In this case you should calculate the rental price considering the installments you need to pay yourself. Setting the right rental price is not an easy task and many factors need to be taken into account. In order to keep in mind the current market place, you should inquiry about the amount which is generally asked for when renting similar properties nearby.

  • Evaluate the candidates

This is the trickiest part. There is no guarantee that a candidate who seems  « well in all respects» will not, one day, stop to pay his rent and that the candidate who seems to be the « second choice » at first glance, will cash you on the barrel head. In any case, do not hesitate to be picky and verify as much as you can the creditworthiness of the candidate. As a general rule, the amount of the rent should not be higher than one third of the tenant’s revenues. In order to reassure yourself about the candidate’s solvency, you may ask the following documents:

– identity document (plus residence permit in case of foreigners);

– for the Swiss residents, proof of address;

– three last salary statements + copy of the employment contract + certificate from the employer;

– copy of the tax declaration;

– certificate of the Office of Legal Proceedings and Bankruptcies in order to exclude that the candidate is indebted.

Remember to ask for originals. Computer programs can work magic in terms of providing proofs that are inaccurate in practice, especially in the cities facing the lack of apartments you may be given false documents giving wrong impression about the actual profile of the candidate. Be careful and do not hesitate to call the employer of the candidate or if his/her guarantor. It is better to get a serious candidate with average revenues than a candidate whose papers have been falsed.

Rental guarantee and the guarantor

Rental guarantee is a sum of money equivalent to one, two- or three-month’s rent which your tenant will deposit on the bank account and blocked on his name. You will be obliged to return the amount when he leaves the apartment without causing any damage.

Whenever your tenant is a foreigner or a student without a decent job, he needs to have a guarantor. The guarantor should be of Swiss nationality and prove a steady income (salary or pension). He agrees to pay the rent in the event of default of the tenant. You may ask the guarantor to give you the following documents:

– copy of his identity card;

– copy of his 3 last salary statements or employment contract or a certificate proving his salary (in case of retired guarantors – which may the case of parents of a student– proof of income is sufficient) ;

– certificate of the Office of Legal Proceedings and Bankruptcies issued less than three months ago.

  • Evaluate the serious candidates

Beyond the quality of documents provided by the candidate, you should evaluate his reliability. Watch closely his appearance, his way of speaking, his responsiveness to the messages you sent him. Optionally, check out his social media. This is not forbidden by law, since the data is public. Ultimately, when facing the dossier of evident qualities, you need to follow your gut instinct.

 

 

 

 

 

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