8 Tips For Screening Potential Tenants For Your Property
Having the right tenants in your property makes a massive difference. Bad tenants can cause countless problems and hassle, from unpaid rent to anti-social behaviour and property damage.
To give yourself the best chance of hiring good tenants follow our 8 tips below:
1] Rental Applications
ItÔÇÖs essential to make the potential tenant complete a Tenant Rental Application form. A good form will include fields for all their personal information, employment history and references. It also opens the door to the next point.
2] Perform a Credit Check
If your tenant has completed a suitable rental application form then youÔÇÖll have permission to perform a credit check on them. Be very wary of renting your property to someone with a history of bankruptcy or non-payment.
3] Proof of Identity
You can perform a credit check but itÔÇÖs no good unless the individual is who they say they are. Ask for proof of identification, ideally a driving license.
4] Follow up References
DonÔÇÖt just ask for references. Make sure that you follow them up, asking questions such as how long has the person known the prospective tenant, are they reliable, trustworthy, and so on.
5] Speak to the Previous Landlord
No one will be in a better position to give you an idea of whether the individual is likely to be a good tenant than the previous landlord.
6] Time in Current Job
Sometimes tenants with the best of intentions end up struggling to pay rent simply because of an unforeseen change of circumstances, often the loss of their job. Find out how long theyÔÇÖve been employed in their current job. If itÔÇÖs less than 6 months then you may want to be careful, possibly taking a larger deposit, as itÔÇÖs likely theyÔÇÖre still in their probationary period.
7] Arrange a Face-to-Face Meeting
It almost goes without saying but it remarkable how many landlords are happy to rely only on telephone conversations and completed forms. You can tell a lot about someone in a face-to-face meeting. Pay particular attention to whether they arrive on time and how theyÔÇÖre dressed. If theyÔÇÖre scruffy and late thereÔÇÖs a higher likelihood that they wonÔÇÖt care for your property as you would yourself.
8] Code of Conduct
Finally, ensure that you include a Code of Conduct in the Rental Agreement. Include elements such as whether pets are allowed, issues surrounding noise, what happens if the carpets or sofas are damaged or stained, and so on. This will help to prevent misunderstandings further down the line.
Do you have any other tips? Feel free to mention them in the comments below.