Good tenants are crucial for every landlord and Letting Agent. Finding the right tenant will ensure your property is well-maintained, rent payments are made on time, and the overall renting experience is positive for both parties.
If you are not using a property or Letting Agent to assist you, here are the top 10 attributes you should look for in a tenant:
1. Financial Stability
The tenant should have a steady and reliable source of income to ensure they can afford the rent and make payments on time. You might look for a tenant whose annual income is at least 30 times the monthly rent.
How to Assess: Check for proof of income, such as payslips, bank statements, or employment verification. You may also perform a credit check to assess their financial reliability.
2. Good Credit History
A good credit history indicates that the tenant has a track record of paying bills and debts on time, which reduces the risk of late or missed rent payments.
How to Assess: Conduct a credit check to see if they have a history of late payments, defaults, or bankruptcies.
3. Positive References from Previous Landlords
References from previous landlords or Letting Agent can give you an insight into the tenant’s behaviour, cleanliness, reliability, and overall suitability as a tenant.
How to Assess: Contact previous landlords or Letting Agent to ask about their experience with the tenant, including how well they maintained the property and whether they were easy to communicate with.
4. Reliable Employment or Stable Income Source
Tenants with stable employment or a reliable source of income are less likely to default on rent payments. Long-term employment at a reputable company or proof of savings can also provide additional security.
How to Assess: Request employment verification or proof of alternative income sources, such as government benefits, pensions, or freelance contracts.
5. Clean Rental History
Tenants with a history of frequent moves, evictions, or disputes with previous landlords may be less reliable. A stable rental history indicates that the tenant is likely to be a long-term, trustworthy tenant.
How to Assess: Ask for details of their previous residences and reasons for moving. Verify this information with past landlords or property managers.
6. Respectful and Responsible Tenants
A respectful and responsible tenant will likely take good care of your property, follow the rules, and communicate effectively about any issues.
How to Assess: Assess their demeanour and communication style during the interview or application process. Request references that speak to their character, such as from employers or personal contacts.
7. Good Communication Skills
Open and prompt communication helps address maintenance issues, lease terms, and other concerns efficiently, reducing misunderstandings and conflicts.
How to Assess: Observe how quickly and the tenant responds to your communications during the application process.
8. Low Number of Occupants
Fewer occupants generally result in less wear and tear on the property, fewer noise complaints, and a lower risk of property damage.
How to Assess: Ask for the number of people who will be living in the property and ensure it aligns with your property’s space and capacity.
9. Cleanliness and Organisation
A tenant who maintains cleanliness and organisation is more likely to care for your property and leave it in good condition when they move out.
How to Assess: You might observe their behaviour during viewings or request a reference that can vouch for their cleanliness and organisational habits.
10. Pet Responsibility
If you allow pets, tenants must be responsible pet owners who will minimise damage and disturbances caused by their pets.
How to Assess: Ask previous landlords for proof of responsible pet ownership.
Increase your chances of finding good tenants
By prioritising these attributes, you increase the chances of finding a reliable and considerate tenant who will maintain your property well and fulfil their rental obligations. Alternatively, why not take advantage of our Tenants Find Only Service at £500 + VAT or our Fully Managed Service at 8% + VAT. Available September and October 2024.
Please contact us for more details.
