New York, NY— In an article just released in New York Magazine, Suzanne Seggerman’s legendary NYC loft was ultimately demolished by someone who appeared to be the perfect tenant on paper and online. But it gets worse. Seggerman’s property was not the only one destroyed. Through her sleuthing skills, she helped uncover other victims (some international) of the same “Monster Tenant!” Before you consider subletting your property to a perfect stranger, take note of Seggerman’s 10 Landlord Tips that anyone should know BEFORE renting out their property.
1. Conduct a Credit and Background Check. Even if your broker provides one, you can go the extra step and conduct one independently.
2. Google the Tenant’s Name. Also, search for words like "Housing Court," "arrest," "conviction," and anything else you’re worried about. Look through the first three pages, at least.
Go on local and state court databases and find any cases associated with their name. (Check your local laws about what you can use in your decision-making.)
3. Confirm Educational Institutions. While it’s great to see a school’s name on an application, make the call to confirm that it’s true.
4. Verify Employment. Nowadays, HR people can give you a “yes” or “no” about whether the tenant works at the establishment.
5. Check All References. Follow up if you can find a contact for someone or something in common. Also, call previous landlords if possible (some states don’t allow this).
6. Meet in Person (but go with a friend, relative, or broker.) Try to connect with that person as much as possible. Trust your instincts. Build a relationship.
7. Get a minimum of One Month’s Rent and a Security Deposit. Depending on local regulations, you may be able to ask for more.
8. Remove Any Personal Items. If furnished, remove any personal items. Assume they will be damaged or stolen if left on-premises.
9. Include a Maid Service in the Lease. Add a regular maid service to
the lease so that someone you know goes in regularly.
10. Schedule a Quarterly Property Manager Check-in. The manager can visit the property to inspect appliances, doors, and windows, and address any issues that might concern the tenant.
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