How to find and keep good tenants
Finding a good tenant can help provide financial stability and stop long void periods. You want to know your rental is being well looked after and that you will be paid on time.
Once you find a good tenant, you should try to keep them in your rental for as long as possible!
What makes a good tenant?
They’re good when they follow the terms of the tenancy agreement e.g., they don’t bring in pets when the agreement doesn’t allow it, or that they don’t throw parties that could cause a disturbance.
They keep the property clean and well-maintained. In your agreement they’re usually responsible for keeping the property clean and maintaining big appliances.
Also, the rent is paid on time. Of course, this would be the most satisfying quality for a favourable tenant – you don’t want someone who can let you down and can cause financial issues.
How to pick a good tenant?
Firstly, you should do a credit check and verify their income. Then you can nip the most important quality in the bud and be assured that they’ll pay their rent on time.
You should also check the tenants rental history. That means speaking to previous landlords to find out how reliable they were on paying their rent, how neighbours felt about them etc.
How to keep a good tenant?
If you want to keep good tenants, you need to be a good landlord. So, make sure you keep up with maintenance work. Also, address any issues your tenants may have quickly.
Tenants don’t want to feel like they’re being ignored or left to suffer, so be sure to respond quickly. However, don’t be overbearing, if they have an issue, they’ll come to you.
Be proactive with renewals, you need to give the up to 8-12 weeks for them to make decision about renewing their agreement. You could even give them an incentive to stay, a discount to rent for a couple months for example.
Overall, its better to keep your good tenants and do everything you can to make sure they’re comfortable, because replacing a good tenant can be time consuming.
We hope our tips will help you find reliable tenants for your rental.
If you are looking to rent out a property locally, do please get in touch with our team here.