PB The cost of being a landlord

How to find the right tenant

Posted 07/06/2016

Rental properties continue to be in demand around the UK and in North Yorkshire they go at an average of £843 per calendar month and are usually off the market in 84 days.

But, how do you go about finding the right tenant? Here are our top seven tips to help you along the way. 

Have an application form

To start with, get prospective tenants to fill out a standard application form – you can even get some free online software. Letting agents will include this in their fees - check out our landlord services if you are renting a house.

References

Oftentimes you can find that references are requested but not looked at. There’s no use in having them unless they are read and checked – all it takes is one call to a referee.

Credit check

When it comes to finding the right tenant, the ability to pay the rent is pretty much top of the list for a landlord. It is a sensitive issue, of course, and if someone refuses to provide the documents it doesn’t always mean they can’t pay but a credit check and bank statements are a good idea. 

Meet and ask the right questions 

Understanding why someone is moving to see if it’s to get more room, changing jobs or getting evicted can help you make a better decision. Find out when people are moving, how long they see themselves there and what, if any, changes to the property they might like to make or propose. 

Take your time and listen to your gut 

The first offer on your property isn’t always the best, so be sure not to rush into accepting any application you receive. On top of this, remember to trust your instincts and consider any relationship you have with the prospective tenant. 

Deposit

Give yourself peace of mind, and protect the property, by taking an appropriate deposit that will help to cover any repairs down the line, if necessary.

Don’t forget the contract

Contracts are vitally important so be sure to have a tenancy agreement that both parties can agree on. This will help settle any potential disputes further down the line. 

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