How to choose the best tenant

Making the right choice of tenant for your rental property is very imported.

Good tenants play a vital role in ensuring your peace of mind– and they’re not always easy to find.

Rental properties are a business and your tenants are the employees, so it’s imperative that they are top quality, that they take their responsibilities seriously and that they’re committed to the long term.

Here are some key tips for tenant selection that will help you find quality ‘staff’ who are reliable, motivated and committed to working with you to protect your investment.

  1. Screen prospective tenants carefully and thoroughly

Strict screening is absolutely essential if you are to find the best tenant for your property – and it’s not easy to do this on your own, which is why landlords enlist the services of professional property management companies. But now you do have another choice "RealRenta”. RealRenta can screen your prospective tenants on bad tenant databases to identify tenants you would not want in your investment property

  1. Contact their references

Many landlords have made the wrong choice of tenant simply because they didn’t follow up on references. Unscrupulous tenants may even falsify testimonials to secure a property – and the losers are generally the landlord. It does take time to personally contact referees and check that the information provided is correct, but it’s an important part of the screening process and an absolute necessity. It’s one of the reasons that many landlords choose to list their properties with property management companies.
But again now you have another choice in "RealRenta” whereby for a fee they will do a full tenant check. Bad tenant database checks and contact their referees, providing you with a report.

  1. Find out why they want to rent the property

Understanding someone’s motivation for renting can be an important pointer as to whether they will be a quality tenant or not. People with long-term employment contracts, who work in the area or whose children go to the nearby school are more likely to be solid, reliable, long-term tenants than someone who is looking for interim accommodation before buying their own home or switching jobs.

Jason Gwerder
Friday, 22 July 2016

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