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What is the best practice in dealing with tenants and deposits?

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We recommend using your best judgment when dealing with a potential tenant. Be sure to verify that monies have cleared before releasing the property.

It is customary to ask for a holding deposit, particularly in the case of a short term rental or vacation rental, and this rental deposit should be about 25 percent of the total rental cost.

There are very few tenant scams that internet con artists employ that landlords need to be wary of. If a tenant suggests that they send you a an amount larger than the rental price and then asks you to forward the balance to a third party, this is a red flag.

When possible, we recommend running background checks on your new tenants. Sublet.com offers a variety of background reports, including credit history, rental history and criminal history.

It is preferable to meet with the tenant before they are to take up residence in your rental property, but this may not always be possible, particularly in short term rental situations. However, if you have a friend, colleague or family member living in the area in which they reside, this could be someone you could have to get a general feel for the tenant before they show up on your doorstep.

If any questions should arise during your correspondence with a tenant using our Sublet.com mail center, please feel free to contact us. If you are concerned about the legitimacy of a tenant, please email or telephone us so we can help.

 
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