If you own a property and decide to rent it, it will be essential to find solvent tenants to protect your investment. Read on to find out how to protect your home when renting and avoid delinquent tenants.
How to find a good solvent tenant?
There are several ways to find a good solvent tenant:
- Ask for references: One way to find out about a tenant’s creditworthiness is to ask for references from previous landlords or landlords. This helps to get an idea of whether you are making payments on time and keeping the property in good condition.
- Prove income: Another factor to consider is your financial situation. You can ask the tenant to show you their last pay stub or a tax return. This way you can see if you have enough income to pay the rent.
- Verify if you have debts: With his consent, you can consult in the Risk Information Center if he has pending debts.
- Require a guarantee: If the tenant does not have enough income to pay the rent, you can require him to present a guarantee. A surety is a person or entity that agrees to pay the rent if the tenant is unable to do so.
What to do if your tenant does not pay the rent?
If your tenant does not pay the rent in Spain, there are several measures you can take:
- Talk to the tenant: The first thing you should do is try to understand why the tenant has not been able to pay rent. You may have had a temporary problem, and if you agree, you can work out a win-win solution.
- Send a Notice of Breach: If the tenant hasn’t responded or reached an agreement, you can send them a notice of breach of the rental agreement. This notice must include a deadline for the tenant to pay the rent owed and must be sent by certified mail with return receipt requested.
- Sue the Tenant: If the tenant fails to pay the rent due after you receive the notice of default, you can sue the tenant in court. This can be a long and expensive process, but it is the only way to recover the rent owed if the tenant is not willing to pay voluntarily.
It is important to note that before taking any of these measures, you must ensure that you follow all the steps and procedures established in the law to avoid legal problems. It is advisable to consult with a lawyer for advice on how to proceed in these cases.
It is essential to take steps to protect your property when renting and avoid delinquent tenants. Some steps might be asking for references, finding out if you have a stable income, asking if you are debt free, and signing a lease. In addition, it would be advisable to have insurance that protects against non-payment.
In the event that your tenant does not pay the rent, you should talk to him to try to understand the reason and reach an agreement. If this is not achieved, the next step will be to send you a notice of breach.
If you are looking for a home in Valladolid, do not hesitate to visit the available properties in the area.