Knowing how to find good tenants for your rental house, you’ll have the benefits of an easy-going tenancy.
Carry out background checks, meet face to face, and take all the necessary steps to secure decent tenants.
Here are our top 10 tips to find good tenants for your rental house:
Take your time while choosing tenants. Choosing the right people may save a lot of money, time and stress in the long run. How can you ensure your rental property is safe?
Select the right types of tenants
Who are you appealing to? If you have a 2 bedroom flat, it may not be suited to a family of four, you may decide to rent your property to sharers, and market it room by room and go down the HMO route, decide who you choose to deal with as your tenants. How can you keep your tenants happy?
Carry out a credit check
Make sure to credit check your tenants, don’t just rely on landlord references and employment references. You have to be sure that prospective tenants are financially viable and can afford the rent. Their credit history will reveal if your dealing with reliable, responsible tenants, do they have CCJs or bankruptcies in their records. How can you know if you need a property manager?
Call the employer
A background check will confirm where the individual works and also find out what type of contract they are on and how long they have been working for their current employer. If they have only been there for a couple of months and are on a probationary period, it would be risky to rent to them. Landlord Insurance for beginners
Carry out immigration checks
You are required to check their passport, check they have a right to live in the UK. Unexpected costs of being a landlord
Call their references
As a landlord, you have access to all the information that tenants provide to the referencing company. If you get a reference says they might be moderate risk, ask more questions to the company. If there is a risk you may then consider using a guarantor.
Even if you are using a letting agent to find tenants, you should always have a face-to-face meeting with them as soon as you can. If you are managing the tenancy, introduce yourself as you will be dealing with the tenants from that point onward. You can also find out more about that person, their long-term plans, and what they are like to communicate with.
Search for your tenants on social media
Checking your tenant on social media will give you a clear understanding of who they are, how they come across and does it tally with the information and the impression they have given you.
Follow your gut feeling
Always follow your instincts, it will always be right. If something doesn’t feel right it probably isn’t.