PragueConnect.cz - Real Estate

PragueConnect.cz Real Estate articles in cooperation with Prague.TV Real Estate, if you are looking for a mortgage to finance your next house or flat purchase in Prague - visit Prague.TV Mortgage, don't miss out on historical low Czech mortgage rates!

How to Find Responsible Tenants in Czech Republic

It is one thing to find a tenant and quite another thing to find a responsible tenant. A responsible tenant is one that pays the rent on time and fully. A responsible tenant doesn’t damage your property.

Anyone who has owned rental properties for any length of time will confirm that 95% of the work is finding the right tenant.

 

 

Don’t play Russian roulette with your tenant selection process

 

This is especially vital here where the Czech Republic owner / tenant laws fall very much in favor of the tenant.

For example, under the current laws in order to use a tenant’s damage deposit to pay for valid damages an owner would either need a Court decision or to have the tenant’s agreement with this in writing.


Be Sure to Have Options

Many owners feel pressed to accept the first applicant because, for one reason or another, they have not had much interest in their property.

Here are our top tips for generating maximum interest in your property:

1. get or make an accurate valuation of the potential rent

2. take wide-angle photos of the interior of the property on a day that has sunshine streaming in the windows

3. advertise your property on www.bezrealitky.cz (a ‘for rent by owner’ website) with Czech and English text

4. share your property with high-performing real estate agents

 

Qualifying Tenants

After having a selection of interest you need to get down to the work of finding out which ones would make good tenants.

To do this you need to use a combination of your personal impressions at the viewing as well as a thorough checking of references.

At the viewing you can be observant about whether they arrive on time, show respect for the property (eg. removing or offering to remove shoes) and for you (eg. asking permission to open closed doors).

However, many an owner (even very experienced landlords) has been fooled by a good first impression.

It is vital to collect and check references on the prospective tenant. We routinely check with their last landlord and current employer but also collect information about the employer and landlord previous to this as well.

Giving references to a potential landlord is not common in Czech Republic but it is a good first indicator if the prospective tenant will be cooperative or not.

Our policy is simple – no references, no rental.

When phoning it is good to have a crafty approach in order to weed out those tenants who passed on the name of their drinking buddy.

Rather than stating at the start the reason for your call, say that they were listed as a reference for so-and-so (no clue as to whether it is for rental or potential employer , etc.) and then ask as the first question: ‘Can you please tell me how you got to know them’ or ‘Can you please describe your relationship with this individual’. Without the initial clue that the phone call is related to rental you can sometimes weed out the phony references.

Interestingly, when I used the above approach checking references for one prospect, the ‘former landlord’ said that the prospective tenant was his girlfriend.

The best question to ask a former landlord, when you are sure that you are speaking with the correct one, is whether they would rent to these tenants again if they had the opportunity.

There is no question that sourcing responsible tenants in Czech Republic takes time but you can be assured that doing so will pay off in spades. 


by Nathan Brown - nathan@czechpoint101.com - owner and managing director of Czech Point 101  - "You’re in good hands whether buying, selling or managing property in the Czech Republic." 

 
 
 
 
We Ensure your business gets seen - Use the power of video advertising! 

With a total of over 300,000-page visits per month and over 60,000 followers on social media channels, PTV Media Group is the leading international media service in Prague, Czech Republic. If you are interested to take the next step with your company and you are ready for new clients, visit www.ptvmedia.cz.
Upcoming Events