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Landlords: 3 tips to select a tenant
It is important to find tenants who will not only pay the rent on time, but will also take good care of your investment property. With a substantial amount of capital tied up in any rental property, it’s essential to not only have your tenants pay the rent on time week after week, but also keep it in good condition and notify you of any problems that arise immediately.
To source good tenants for your rental property it’s advisable to have an experienced property management team, like Baxton Property Management to manage your property for you. We’ll screen all tenants interested in renting your property to ensure they have a proven track record of taking care of the properties they’ve rented in the past.
A few tenant checks we perform for our clients
This is the first check a property management service provider will take. With the contact details provided by the prospective tenant, we’ll contact their employer directly and ask about criteria such as their salary, their position at the company, and the length of time they’ve been employed there.
By checking tenancy databases, we search for the prospective tenant’s rental history to look for any instances in which they’ve been flagged for problems. People who’ve been lax about paying rent or have damaged properties aren’t suitable tenants.
Personal reference check
It’s remarkable what can be learned about a prospective tenant by talking to their friends, previous landlords and employer. Personal reference checks are widely considered to be just as important as credit checks.
These three tenant checks provide a good understanding of the tenant’s ability to pay rent on time, their character, and whether they’ve paid the rent punctually and taken good care of the properties that they’ve rented in the past.
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We hope you enjoyed this article
The information contained in this article is based on the authors opinion only and is of a general nature which is not indicative of future results or events and does not consider your personal situation or particular needs. Professional advice should always be sought relevant to your circumstances.
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