How to know if a tenant is solvent in a few steps?

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One of the risks when renting your home is the timely collection of fees. The insecurity regarding timely collection of these is increasingly common among landlords. And in these times, it is important to know who is going to be the new tenant of your home so as not to have problems in the future. It is normal for you to wonder how to know if a tenant is solvent or what to ask of a future tenant. In these cases, it is best to trust professionals to manage your secure rental. At Housfy we offer a comprehensive rental management service so you don't have to worry about anything. We analyze the profile of potential tenants to choose the most suitable tenant for your home.


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How do you know if a tenant is solvent?
1. Documentation to rent an apartment
To rent an apartment to the future tenant, we must request certain Chinese Overseas America Number Data documentation as the owner in order to calculate the solvency of the rental . But in addition, as future landlords we must also provide certain documentation to legally rent an apartment .

Documentation that the tenant must deliver
First, and most importantly, check the tenant's total income by requesting the payroll and employment contract . There is no minimum payroll to rent an apartment, however, it is recommended that this amount should be between 30% of the net income. Of course, the loans and debts that the interested party has in the property must be deducted from the net income. Currently, the last three payslips and the income tax return from the previous year are requested. But, if the future tenant is self-employed then you should also ask them for personal income tax and VAT returns.
Finally, a DNI or identification document will be necessary to verify that the person requesting the rental is really that person. It is important that the tenant knows how to demonstrate financial solvency for rent.
As important information, note that the tenant can request a simple note of the home to confirm ownership of the property.
Documentation that the owner must provide
Provide your ID or an identification document so that the tenant knows who is renting the home to them and is who they say they are.
Ask the tenant for the solvency they need to justify that they will be able to pay the rent monthly without any problem.
Copy of the last IBI paid .
Regarding the deposit, proof of competent deposit must be provided depending on the obligation in each autonomous community.
Copy of the keys and copies of the supply contracts to be able to make the change of ownership.
2. Tenant solvency study
The solvency study for non-payment can be processed with a bank or through companies specialized in rentals and non-payments. In some cases these companies give you the option of doing the solvency study online, a very convenient and quick process to know the tenant's solvency.




3It is important to note that to demonstrate the financial solvency of a tenant , the Data Protection Law must be respected since to calculate solvency we use personal data and authorization from the future tenant is required.

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3. Non-payment of rent insurance
Many landlords choose to take out rental insurance to ensure payment of rent. This insurance represents an additional cost but offers several advantages, including coverage of up to twelve monthly payments for non-payment of rental income by the tenant and protection for damages caused by the tenant. To formalize it, a tenant solvency study is carried out .