How are tenants selected?

Tenant selection is a crucial step in minimizing operational risks. Piece requires all the investment projects to evaluate potential tenants with focus on several key processes:
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1. Screening:
Thorough background checks are performed, which include assessing credit history. This helps to gauge tenant’s financial responsibility and suitability.
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2. Interview:
The prospective tenants are met in person or through a video call. This interaction allows us to assess the tenants personality, address any questions or concerns, and clarify expectations.
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3. Financial stability:
As a standard practice, to ensure tenants have a stable income to cover the rent, it’s required that their monthly income be at least three times the rent amount.
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4. Clear Lease Agreement:
To foster transparency and a mutual understanding, a comprehensive lease agreement is used. This document outlines all terms and responsibilities, ensuring that both parties are on the same page right from the beginning of the tenancy.
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The investment projects that are listed on Piece platform will follow this structured tenant selection process, contributing to a smoother and more secure rental experience for all parties involved.