Every landlord's biggest fear is stopping getting paid. Non-payment doesn't just take away your income: it also brings admin, time and stress. The good news is that the risk can be greatly reduced with the right decisions before signing.
1. Verify the tenant properly
The best protection starts before the contract. Confirm identity and, above all, solvency: ask for proof of income (payslips, bank statements or the IRS return) and check that the rent is a reasonable share of their income. A verified tenant is a much lower risk.
2. Choose your guarantee well
In Portugal several formulas are used to back the payment:
- Deposit (caução): the deposit that covers damages and breaches, within what the contract allows.
- Guarantor: someone who answers for the tenant, although not always easy to find.
- Rent guarantee or insurance: secures the rent in case of non-payment, without relying on a particular guarantor.
The rent guarantee is increasingly popular because it protects your income and, at the same time, widens your pool of candidates: many good tenants don't have a guarantor, but they can provide a guarantee.
3. Put everything in writing
- A clear contract, with dates, amount, rent updates and terms.
- Issue and keep the rent receipts for every payment.
- Document the property's condition at move-in and move-out.
4. Act fast at the first delay
Most non-payments get worse due to delay. A system that alerts you to the status of each payment and lets you react in time makes the difference between a scare and a big problem.
Preventing costs far less than claiming. The combination of a good tenant and a solid guarantee removes most of the risk.
Protect your income with Grenty
With Grenty we verify your tenants digitally and secure your rent according to the contract terms. Everything is managed from one dashboard: contracts, payment status and documentation in one place. Less risk, less vacancy time and the peace of mind of renting with backing.