If you’re a landlord, you know how important it is to find a great tenant for your rental property. Not only do you need someone who will pay rent on time and take care of your property, but you also want someone who will be a responsible neighbour.
There are many things to consider when referencing potential tenants, and you want to make sure that you are choosing the best candidate possible. We will provide tips on how to screen candidates and what to look for in a good tenant. We will cover everything from advertising your property to conducting viewings.
So, whether you are just starting out as a landlord or have been renting properties for years, this guide is for you.
Preparing Your Property
Remember, as much as you are trying to find a good tenant for your property, prospective tenants are also rating the property and the landlord or agent representing it.
As soon as a potential tenant walks through the door, they get a feel for the quality of the property on offer. More than often than not, the condition of the property reflects what is to come:
- Is the furniture old and tired?
- Are the carpets filthy?
- Is the bath silicon mouldy?
- Are your windows double-glazed?
- Does the boiler look past it’s sell-by date?
These are all factors that your potential tenants will be considering, so if you want to attract quality tenants, your accommodation should be up to scratch.
Advertising your property
When it comes to finding a great tenant, the first step is to advertise your property in the right places.
You want to make sure that you are reaching the correct profile of potential tenants, who are looking for a place to live in your area. There are many ways to do this, but one of the most effective is through online listings.
Yates Hellier advertise on prominent online property portals including Rightmove, which is one of the main ways to reach a broad range of potential tenants. Once you have advertised your property, conducted the viewings and completed the application stage, the next step is to start referencing your chosen candidates.
Pre-screening the candidates
When pre-screening candidates, there are a few things that you will want to look for. The first is whether or not the candidate has a steady income, which is at a level that is deemed affordable for the rent in question. This is important because you want to make sure that they will be able to pay rent on time each month.
You will want to make sure that the candidate is a good fit for the property itself. This means that their intended length of stay will align with the landlords’ requirements, the number of bedrooms are sufficient for the number of applicants and that they are educated on the type of area they are looking to move to.
Conducting viewings
Once you have pre-screened candidates, the next step is to conduct in-person viewings. This is where you will get to know the candidates better and see if they would be a good fit for your property.
During the viewing, you will want to ask questions about their rental history, and why they are interested in living in your property. You should also take this opportunity to get to know the candidates better on a personal level. This will help you to see if they would be a good fit for the area.
Decision time
After you have met the candidates, it is time to make a decision. You will want to choose the candidate who you think would be the best fit for your property. Once you have chosen a tenant, you will want to do a comprehensive background check.
This is important to make sure that they are who they say they are and that there is nothing in their past that would make them a potential problem tenant in the future.
You will want to look for candidates who have a good rental history. This means that they have never been late on rent and have always taken care of the property they have rented in the past. Background checks typically include a credit and ID checks, employment verification, previous landlord reference, open banking checks and a historic Housing Tribunal case scan.
Using a Property Management Company
If you are having trouble finding a great tenant for your rental property, then you may want to consider making use of a property management company such as Yates Hellier.
Property management companies can be a great resource for landlords, and they can help you find the perfect tenant for your property. They will be able to help you through every step of the process – from advertising your property to screening candidates.
They can also conduct viewings and help you to make sure that you are choosing the best possible tenant for your property. Property management companies can save landlords a lot of time and hassle. They are experts in the field and can help you find the perfect tenant for your property.
What’s next?
Now that you know how to find a great tenant for your rental property, put these tips into practice, and you will be sure to find the perfect tenant for your next vacancy.
Just remember to pre-screen candidates carefully, conduct in person viewings, and do a background check before making your final decision – or make use of a professional property management company, such as Yates Hellier, to do it all for you.
By following these steps, you can be sure that you are choosing the best possible tenant for your property. Get in touch to get started today.