How to easily choose the best tenant for your rental property
Are you looking for the best tenant for your property? We’ll help you find them! From defining your criteria to setting up an interview, there are plenty of strategies you can use to select the perfect people to rent your home. List your rental property on GotProperty and find your dream tenant today.
Define your criteria
Before you can find the best tenant to rent your property, you need to know exactly what you’re looking for. Deciding whether you’ll allow pets or not is an important consideration. Is your property suitable for a family with kids or would you prefer quieter tenants?
You’ll also need to determine how much your tenant will need to earn in order to be able to afford the rental price. It’s helpful to ask if they smoke and to check if they have a criminal record. Ask for references from a previous landlord to get a better idea of their rental history.
Create a clear advertisement
Create an advertisement that clearly defines your expectations of your tenants. Include the essential criteria, such as the property’s suitability for pets, children, and smokers. These details will help to decrease the number of unsuitable applicants you receive. Add details about the application process so that they understand what documents and information are required from them.
Set up an interview
An interview with your prospective tenants is your chance to get to know them better. When you’re talking to people face to face, it’s harder for people to lie. This initial meeting helps to establish a good relationship with your tenants by promoting communication right from the start. A casual conversation will allow you to get to know them better, but you can also include more formal questions.
It’s beneficial to gain insight into why they’re moving and how for long they rented their previous home. Finding out their plans for the future will help to establish whether they’re suitable long-term tenants or not.
A crucial part of finding the best tenant is to take your time. While it’s understandable that you want to find a tenant quickly so that you don’t lose out on rent, rushing the process can cost you more in the long run.
Place an advertisement as soon as your existing tenants let you know that they plan to move out. You’ll have more time to find the perfect people if you don’t procrastinate. While evaluating each applicant carefully takes time, it will all be worth the effort.
Know what warning signs to look out for
While knowing what type of tenant you’re looking for is important, you can also benefit from recognising the warning signs of a bad tenant. Showing up late for meetings and poor communication are both indications that the person may not be the right match for your rental property.
A rude attitude and dishevelled appearance are other warning signs to be aware of. It’s advisable to avoid renting to someone who refuses to complete the application form or stops you from running a credit check.
Close the deal
It’s advisable to ask your tenant to pay a deposit and first month’s rent to secure the rental property. They’ll also need to sign a lease agreement before they move in. Include a checklist that details the condition of the property and ask them to sign it. Add photos of the property to this document.
These final steps help to close the deal and set a good foundation for your relationship with your new tenant. If they won’t meet these requirements, they’re not the right tenants for you.
Now that you know how to find the best tenant, you can begin the application process for your rental property. Create an advertisement on GotProperty and get your search off to a great start.