Finding a long-term responsible tenant who respects your property and pays promptly isn’t all about luck. Here at Park and Bailey we have put together our top tips on how to find the perfect tenants, so you’ll know your property is in good hands.
By showing tenants around personally, you’re getting a first glimpse of the people who may be moving into your property in the near future. Take this opportunity to engage your landlord instincts and if you meet tenants up-front, it’s much easier to build a long-term relationship.
Tenant referencing shows their previous renting history. It will show if the tenant can afford the rent that you’re asking for and to show that they haven’t had any problems in the past.
Ask the tenant for a guarantor
If you are unsure whether the tenants will always be able to pay the rent every month, consider acquiring a UK-based guarantor, they will then be liable to pay the rent if your tenants default. Guarantors are especially common for student tenants.
Make sure your tenant sets up their payments through a standing order. It means your tenants won’t forget to pay and you won’t have to continually chase them for the money they owe you.
Communication is key
As a landlord, you must make sure that you keep in contact with your tenants, this will make them less likely to default on a rental payment. If they are having trouble receiving payments due to a short-term financial situation, then maybe a short-term solution could help them. From the start, ensure that you make the terms of the payment solution clear, and stick to it so there is no confusion.
By following our tips, you will be on the right road to finding the perfect tenants, who will look after your rental property and treat it like home.