How To Find The Right Tenants
Think about how you define the perfect tenant for your letting property. It might differ from landlord to landlord and will depend on what’s important to you. You’ll also consider the type of property you own and the area you are in. Are you located in a city centre full of professionals? Or is it an area popular with families?
The type of person you can target will determine how you categorise them, such as:
- A family will require a home over the long term, where they can have the security, and room to grow.
- Maybe a young professional will be more likely to have an assured and stable income and will be prepared to pay for a good property with modern appliances.
- Perhaps a retired couple will have the benefit of a secured income and will be aware of their financial situation long term. They will have experience in managing a home and will be prepared to pay for what works for them.
Meet Them in Person
The best way to get a feel for a tenant is to meet them. As humans, we have an in-built ability to make hundreds of judgments based on seeing and talking to another human being, so what better way to get an idea of whether a person is right to let your property? Although this may be difficult due to the pandemic, yet you could video call them as a way of seeing how they talk and act.
When physically meeting tenants, it creates the opportunity to ask them questions about their situation, such as their reasons for moving, past rental situations, their jobs, and even their hobbies. It’s a great way to get a feel for who they are in a more natural and less formal way.
Don’t make promises at this stage, though. It’s perfectly ok for you to tell them that you’re not ready to decide yet and that you’ll be in touch. You don’t have to take the first tenants you meet and most of the time, you probably shouldn’t!
Research Your Chosen Tenants
Ensure that you have a list of items to check for. There are a few main checks that you should carry out when it comes to new potential tenants and these are Make sure that you do all the proper checks. Having a credit check, verifying their income, and immigration checks, will all determine whether they are the right tenant for you and whether they can afford to pay their rent. However, be careful not to discriminate – letting things like race or colour, religion, or even benefit claims cloud your judgement is a big mistake, and as well as being unfair, is illegal!
Something else you might consider, using Google. Many people use social media, whether that’s Facebook, Twitter, or Instagram, and it’s surprising what you can find out about a person just by searching their name. It’s a useful tool if you want to make sure that the person applying to let your property is right for you, as you can often get a good feel for their background, friends and opinions, which could all give you an indication of how they will be as a tenant.
Of course, you also must be sure they don’t have a criminal record, or if they do, be sure it isn’t a serious crime, before allowing them to let your property.
Be Sure to Go with Your Gut
Most importantly, be sure to trust your instincts and go with your gut. If you want better tenants. Ask questions and take the time to get a real feel for who they are. Be brave enough to admit if you don’t like them or if they are not a good suit to let your property, as there’s absolutely nothing wrong with admitting they are not a good fit for you!
So many landlords are in such a rush to get someone into their property that they just let their property to the first person who takes an interest and then has regrets when they create problems in not maintaining the property, or worse still causing damage or complaints.
Use a Lettings Service
At Hadleigh, we know that being a landlord isn’t the easiest job and it can be a rather stressful and time-consuming job. That’s why we have an experienced and qualified team of letting agents who provide guidance and advice for keeping both landlords and tenants protected.
We also offer a fully managed letting service which is a great option for landlords who do not have the time to manage their lettings. We take care of all of the maintenance management, property viewings, collecting rent, and finding suitable tenants. Learn more about our letting services here.
Contact Us for Landlords Letting Services
If you’re looking for support and advice in lettings for properties, then please get in touch with our property experts at Hadleigh Estate Agents.
Call our lettings team on 0121 426 3220 or you can send us an email here.