LANDLORDS - HOW TO FIND THE PERFECT TENANT

LANDLORDS - HOW TO FIND THE PERFECT TENANT

Getting the wrong tenants can be a costly and time-consuming experience. First impressions can so easily be wrong - especially when a tenant is on best behaviour. Simple questions can ensure that you and those renting your property are on the same page - as even small misunderstandings can result in big problems down the line. With over a decade of

Getting the wrong tenants can be a costly and time-consuming experience. First impressions can so easily be wrong - especially when a tenant is on best behaviour. Simple questions can ensure that you and those renting your property are on the same page - as even small misunderstandings can result in big problems down the line. With over a decade of experience in property, we feel that we have learnt a few things that could make a big difference when trying to find an ideal tenant for your property. Please feel free to contact us at any time to discuss this guide further or to learn about how our range of letting services can also help you to let your property.


Here are 14 questions to help you make the right decision


1) Why are you moving?
This is a great opening question to ask tenants. It can also tell you a lot about him or her, so listen closely. You want to look for legitimate reasons such as changing jobs or wanting more room. Beware of red flags, such as being evicted or getting into arguments with their landlord or neighbour. If a tenant has not rented in the past it will be your choice as to whether you want to proceed or not, but remember every tenant
has to start somewhere.


2) When are you looking to move?
The sooner you will have it rented the sooner you have revenue coming in on the property. But if a prospective tenant is in a hurry to move, you’ll need to ask why. There could be a genuine reason behind this, so it’s worth asking the question but do question anyone who wants to move in exceptionally quickly.


3) How may people are in the group?
Just because a pair of tenants come to view the property it doesn’t mean that they will be the only ones living there – they may squeeze
more in. You will want to look for a maximum of two people per bedroom. The fewer people the less wear and tear there will be on your property. More importantly, legally, insurance conditions may limit the number of people that can rent and live in the property.


4) What is your income?
In conversation we shy away from talking about our salaries, but when letting a property it’s important. The tenant needs to confirm they are able to pay rent every month. A copy of a bank statement should confirm whether he or she can afford the property as well as monthly
living costs. A proper reference will confirm details. It’s also worth finding out whether your prospective tenant has a permanent job, is on
a contract or a probation period. Realistically, you’re looking for someone who has a permanent and steady job. But do not be too
worried about full-time permanent as many companies do not offer


5) Do you have a month’s rent and deposit in advance?
If you are in any doubt that the tenants are unable to hand this over by the move-in date, the likelihood is that this could
be the same with the rent in the future. So beware. Tenants may be able to get a budgeting loan from your local Job centre Plus or
help from your local council if they need help covering the upfront costs associated with renting. The deposit should be protected in a tenancy
deposit protection scheme.


6) How Long do you want to rent the property for?
It is usual to begin with a six-month or 12- month lease. If a tenant asks for anything less, walk away. You don’t want to go through all of the hard work now, just to go through the entire renting process again a few monthsdown the line.


7) Are you happy to rent the property as it is or any improvements you would like?
Having a tenant to move into a property and then suddenly demand a new bed, curtains or dishwasher can get things off to a bad start.
The best thing to do is ask if the tenant is happy with everything and, if not, to let you know beforehand.


8. Do you have references ?
Having a tenant to move into a property and then suddenly demand a new bed, curtains or dishwasher can get things off to a bad start.
The best thing to do is ask if the tenant is happy with everything and, if not, to let you know beforehand.


You will need the following:


1. Work reference: References from an
employer will help verify income and
stable employment.
2. Landlord reference: You will want
references from a former landlord
because their current landlord may not
tell you the whole truth because they may
just be trying to get the tenant off of their
hands. It is often prudent to obtain this
information on your own to prevent
forgery.
3. Utility bills: This is a good way to
confirm a previous address.
4. Credit check: Running a credit check will
enable you to see if they’ve had problems
paying bills in the past. It’s not a legal
requirement and you’ll need written
permission from the tenant.
5.. Bank Statement: This should confirm the
tenant’s ability to pay as it would be best
to set up a standing order for rent. It can
be used as a utility also but preferably as
a separate document.
6. I.D: A copy of valid passport or driving
license.
7.. National Insurance number.
8. You may also want to ask a tenant to
prove he or she has the right to stay in
the UK and right to rent.


9) Do you have a rental guarantor
This is always helpful to have as an added security blanket if you think someone may struggle. In the unlikely event that anything does go amiss with a rental payment then you have a back-up to ensure you are not left out of
pocket.


10) Do you have pets? Do you smoke?
This seems like obvious questions to ask, but many people forget. If you have a ‘no pet’ or ‘no smoking’ policy, a yes to this question will quite quickly rule out a tenancy. However, if you are open to allowing pets in your property you may want some more information about what type of animal they have.


11) Can you tell me what your lifestyle is like?
This does not only relate to a party lifestyle. You could also ask whether they work night shifts or if they play musical instruments, which could determine their suitability to your property and its area.


12) Do you know what you are responsible for?
Many tenants renting for the first time will have no idea what they are responsible for as a tenant. It is best to confirm all arrangements with
regards to utility bills and maintenance for your property before going forward with a tenant. Confirm which bills they would have to pay, confirm who repairs any appliances at the property if they breakdown and who would expected to maintain the gardens. If the property is a leasehold it would also be good practice to inform the tenant of any restrictions found in the lease such as relating to satellite dishes and use of communal areas.


13) Have you ever been evicted?
While the prospective tenant may not tell the truth, it is still worth asking. A direct question will give the tenant an opportunity to explain
the situation. Anyone can fall on hard times and an eviction may have been a one-off circumstance.


14) Finally, Any questions?
While the prospective tenant may not tell the truth, it is still worth asking. A direct question will give the tenant an opportunity to explain
the situation. Anyone can fall on hard times and an eviction may have been a one-off circumstance.




If you have any questions then do not hesitate give us a call. Even if you’re not sure if you are ready to sell, buy or let property yet, we’re
happy to have a chat and answer your questions.




Written by Neil Raja




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