Real Estate Matters | What makes a tenant a ‘good’ tenant?

Sam Lee

In light of the new legislation that came into effect in February 2018 introducing three-year tenancy contracts, we’ve seen landlords become increasingly reluctant to list their properties on the market.

This is partially because many landlords feel that it is difficult to sell a house when the property is tenanted. They are expecting the market to buoy when the HKG-ZH-MAC bridge opens, and want to keep the property empty in the meantime.

Another setback with three-year contracts; landlords are increasingly nervous about being stuck with a bad tenant.

Since landlord-references are not common practice in Macau as in other parts of the world, it is sometimes difficult to tell if a tenant will be a good tenant or not. But what makes a ‘good’ tenant ‘good’? Here are 3 main criteria that landlords generally look for:

1. Timely rent payments

This is of course the most important criteria. Landlords look for tenants with a stable source of income who are reliable when it comes to paying rent on time.

2. Clear communication

From our experience, most issues and conflicts between owners and landlords are avoidable, or can be quickly solved with proper communication. For example if the tenant is going away on an extended holiday, it’s much easier for all sides if this is communicated in advance.

3. Taking care

of your home

The best tenants take care of the property and treat it like their home. But this is a two-way street – tenants are far more likely to take care of the property if they feel that the owner is taking care of them.

If you’d like to find out more, please feel free to get in touch at [email protected]

Sam Lee is a marketing manager and property consultant at JML Property.

JML was established in 1994 and offers Investment Property & Homes. It specializes in managing properties for owners and investors, and providing attractive and comfortable homes for tenants.

www.JMLProperty.com

[email protected]