Optimise Your Investment Through Careful Tenant Selection
Making sure you select the best tenant is well worth the effort. A great tenant makes your life a breeze andwill help to maximise your return on investment.
Having the perfect long-term tenant makes for a great experience for all parties. Here are some steps to make sure you choose the right tenant from the very beginning:
Present the property to a high standard, both in the advertising material and at the open home. Show the property in the condition you want it kept in
Spend time with the applicants at the viewing:
- Is the applicant respectful and friendly?
- Are they well presented and clean?
- Is their vehicle clean and tidy?
Check the tenant’s application thoroughly. If they take a long time to provide all their documentation, they may not be serious or could potentially be hiding something.
Always check employment references. Ask for wage slips to confirm the salary they have given you is correct to ensure they can afford to live at the property.
Always check previous rental references:
- Have any breaches been issued for non-payment of invoices?
- Was the tenant easy to deal with?
- Was there a lot of maintenance reported?
- How did the tenant leave the property at the end of the tenancy?
- Do they have pets and would the current property be suitable?
You could also take into account how many times the applicant has moved, especially when seeking a long-term tenant.
Making sure you select the best tenant is well worth the effort. This is your investment and your money on the line. A great tenant makes your life a breeze and will help to maximise your return on investment.