It can be daunting trying to find the ideal tenants for your property, especially if you’re new to letting. Here are some simple tips to help ensure you aren’t let down.
Check whether they can afford it
This important step is overlooked surprisingly often. Your ideal tenant should be earning three times one month’s rent. This will allow them to comfortably afford the rent but also have plenty of wiggle room in the event of unforeseen expenses in the future.
Are they legally entitled to rent in the UK?
This is another basic question to bear in mind. You could actually be fined if you rent to someone who doesn’t have a legal right to live here, so take this seriously. You should also remember that it is illegal to discriminate as a landlord on the grounds of religion, family status, disability, or nationality. The official government website has some great resources to help you determine right of residency. You can find clear instructions there on how to conduct a check.
Are they easy to get in touch with?
You certainly don’t want tenants who ignore your calls or disappear from the face of the earth for long stretches of time. If prospective tenants are hard to get hold of and never return your calls or emails, cut your losses and find someone more reliable.
Do they understand and accept your terms?
If you specify no pets, for example, are they happy with this? Make sure tenants agree to all your terms before signing anything. This will avoid conflict and problems down the road. Check whether they are comfortable signing for inventory. You can simplify this by using property inventory software. Are you wondering which businesses would use property inventory software? Property businesses that want to succeed often enlist this type of help.
Do they have good references?
Check out references before proceeding any further. Look out for anything negative or ambiguous in references from former landlords. If someone was a genuinely great tenant, most landlords would be happy to make this clear. This is another basic question to bear in mind. You could actually be fined if you rent to someone who doesn’t have a legal right to live here, so take this seriously.
Will they be able to stick to the agreed timescale?
If you want someone to move in right away, find out if your prospective tenants can do this. While delays will always happen, major changes in timescales aren’t always worth putting up with.