Are you looking for that perfect tenant? It can often be a struggle, but a couple of background checks, a little intuition and a good chat can help you weed out the undesirables and leave you with the perfect renter.
Agencies normally require the tenant’s annual earning to be at least 30 times the monthly rent. Ideally, the tenant should not only have enough money to cover the rent but should also be able to live comfortably.
Make sure they have the right to rent in the UK. Tenants must have the correct original documentation pertaining to their immigration status. According to the UK government, you should always make sure the tenant’s permission to stay in the UK hasn’t ended, that the photos on the documents are of the tenant, and that the dates of birth are the same on all documents.
Do the right checks. Letting agencies can help because they can carry out background checks on potential tenants. They can look into a person’s credit rating via referencing agencies, check with previous landlords, and even do land registry checks if they are a property owner.
You can tell a lot from talking to someone, so make sure you see the tenant yourself. Another tip is to find them on social media so you can get a better idea of the type of person they are.
Ensure the property is in working order
A clean property with no faults is more likely to attract a tidy tenant. Above all, make sure the water pressure is up to speed. There is nothing worse than having a make-do shower in the morning.
Property inventory software
An agency that uses this type of application has the landlord’s best interests in mind and is more likely to find good tenants. If there is damage to the property at the end of the tenancy agreement, you’ll know you’re protected if you need to claim anything from the renter.
Use your gut
Listen to your gut; if something doesn’t feel right with the tenant, don’t feel pressured into signing the contract. Ask more questions and tell them you’ll get back to them later so you can make your mind up in a stress-free environment.
If you are looking to buy a property with the intention of leasing to tenants, why not go to a Fast Conveyancing company such as Sam Conveyancing.