Choosing the right tenant when the options are few

Choosing the right tenant when the options are few

How to choose a tenant

In a time when tenants hold the upper hand, it would be very easy to choose the first tenant that comes along. This is only a short term solution to what could possibly be a long term problem. It’s better to be cautious and this will pay dividends in the long run. Prospective tenants should be able to pay the agreed … rent in full and on-time. This is the key to protecting your investment. But how do you know that you can trust potential tenants?

  • Check references in full. Don’t just take a written reference as gospel.
  • Ask for telephone numbers and speak to previous landlords and current employers.
  • You need to make sure they will respect your property and that they haven”t been kicked out of their last place for having nightly parties into the early hours.
  • Saying that, you need to act quickly as most tenants will have a lot of options available to them.
  • Putting everything on paper and keeping everything above board will protect both you and your tenant.
There are 3 comments for this article
  1. Collagen Gel at 10:19 pm

    Your essentially leaving your investment (and future retirement fund!) in the hands of people you might have only met a few times. You have more to loose as a landlord so I agree totally. Un-paid rent, damage and illegal activities can fester if you don’t research your potential tenants, get it right first time.

  2. Hugh B at 1:53 pm

    I am a landlord and I rent out an apartment. Unfortunately I trusted the tenants when agreeing to the lease and didn’t check out their written references. I would advise anyone renting out a place to do proper research on all tenants. Talk to previous landlords and employers and don’t just take their written references as gospel. Anyone could have written them.

  3. Aidan at 4:25 pm

    The same advice should apply to tenants too. Don’t just take the first place that comes along. Be patient and find the best place for the best deal. There’s seems to be lots of room to negotiate the rent these days too. I have just found a place that was advertised for 1000 a month and got it for 850. Not bad for 2 beds.

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