The demand for private rented housing has never been higher, however that doesn’t mean that you should just choose the first tenants that come along wanting to rent your property and has the money for a deposit. You need to think carefully as to whom you want living in your house, and there are a number of things you need to consider before you sign a tenancy agreement.
Here is our advice on what to do when choosing new tenants:
Think about the Neighbourhood
One of the most important things to consider is whether the tenants who want to move in will fit into the neighbourhood and respect the other residents. Landlords are busy enough as it is, and the last thing they need is to constantly be dealing with complaints about their tenants. Also, if you aren’t careful you could get a bad reputation, or even have the local council step in. If you’re renting to students make sure it’s not in an area where there are families with small children – and vice versa! Your new tenants won’t appreciate moving into a property where they can’t get any sleep at night.
Check their References
There are only so many background checks you can make on potential tenants, however try to make sure that you check that they are responsible and have not had any dramatic financial problems in the past few years. Also, if they are moving from one rented property to another then maybe you could talk to their landlord. You may find out that they have a history of not cleaning their properties or paying their rent, and even with landlord’s insurance to protect you this is still something you definitely want to avoid!
Go with your Gut
Don’t forget that as their landlord you will probably have to spend some time interacting with your new tenants, and this will be a lot easier for both parties if you can get along. If you find that a tenant is difficult or picky when they are viewing the property then what do you imagine they will be like when they move in? Also, make sure you go through the tenancy agreement with your potential tenants carefully before you agree to hand over the keys – there may be a clause in there that could be a deal breaker!
Picking the right tenants can take away so many stresses for a landlord, so make sure you put in the time and effort. Don’t forget that if you do encounter problems you can always talk to your landlord insurance provider, but sometimes it’s better to prevent a problem than have to deal with one.
