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Leasing out your property is a great way to generate income but it comes with risks. The biggest one? A defaulting tenant. Missed rent and eviction costs can quickly eat into your earnings. The key to successful leasing is choosing the right tenant. Here’s how to do it effectively whether you’re working with a rental agent or managing it yourself.
1. Start with an Attractive Listing
A well-maintained property is more likely to attract responsible tenants.
Ensure the property is clean, functional, and visually appealing.Visit www.property.co.zw to create a listing:
- Use clear, high-quality photos with good lighting.
- Include detailed descriptions of the property and nearby amenities.
- Make your listing stand out to attract the right audience.
2. Define Your Rental Criteria Upfront
Before screening applicants, set your standards:
- What is the minimum monthly income required to afford your rent
- Does the applicant have a history of paying rent on time?
- Are they communicative and respectful?
Answering these questions will streamline your screening process.
3. Use a Detailed Lease Application Form
Collect as much relevant information as possible from potential tenants:
- Employment status and employer contact info
- Current and previous addresses
- References (landlord and personal)
Request supporting documents like:
- National ID
- Latest salary slips
- 3 months' bank statements
This helps verify identity, income, and affordability.
4. Conduct Credit Checks
State in your listing that credit checks are required.
- This discourages unsuitable applicants from applying.
- Helps ensure the tenant has a reliable financial background.
Consider using Zimbabwe’s local credit reference services for efficient vetting.
5. Draft a Comprehensive Lease Agreement
Once you select a tenant. Prepare a legally sound lease agreement.Clearly outline:
- Rent amount and due date
- Deposit terms
- Maintenance responsibilities
- Notice periods and termination clauses
Both parties must review and sign before moving forward.
6. Consider Hiring a Professional Rental Agent
If this feels overwhelming, you’re not alone. Many landlords prefer to work with a professional rental agent because:
- They have the experience to spot red flags early.
- They handle viewings, vetting, contracts, and collection.
- They save you time and minimize risk.
Final Word
The success of your rental property depends heavily on choosing a responsible tenant. By following a structured process, using the right tools, and staying informed, you can protect your investment and enjoy consistent returns. Whether you go it alone or get help from an agent, the key is in thorough screening, clear communication, and legal protection.
