Mon 16 Jul 2018
Lee Whitelock, Director MNAEA
What's more, recent updates to the Tenant Fees Bill mean that it's never been more important to keep tenants for the long-term. As of next year, it's likely that you will need to cover the cost of finding new tenants.
What Makes a Good Tenant?
The best tenants have the following qualities:
- They follow the terms of the tenancy agreement. For instance, they don't bring in pets when the agreement forbids it, nor do they throw wild parties which disturb neighbours and the wider community.
- They keep the property clean and well-maintained. As per your agreement, tenants may be responsible for keeping the property sanitary and maintaining certain appliances.
- They pay their rent on time. Naturally, this is one of the most critical qualities of a favorable tenant. You can't have somebody that lets you down and is an unnecessary financial burden.
How to Pick a Good Tenant
Now you know what qualities you should be looking for, the next question is, how exactly do you pick the dream tenants every time? The answer: thorough background checks.
Firstly, you'll want to verify their income and run a credit check. Then you can know for sure if they will be able to pay their rent on time.
Another vital step is to check the tenant's rental history. That means speaking to previous landlords to find out if they paid their rent on time, gave sufficient notice prior to moving, caused any damage to the property, or received complaints from neighbours.
If you don't have the time or resources to carry out such extensive checks, we can help. At Garrett Whitelock, we provide a rigorous tenant screening process using an efficient, independent referencing company.
How to Keep a Good Tenant
Quite simply, if you want good tenants, you need to be a good landlord. So, keep up with maintenance work. Regular maintenance and addressing any issues quickly will keep your tenants happy.
When tenants get in touch, respond promptly. They don't want to feel like they're being ignored or left to suffer. But there's a fine line when it comes to communicating with tenants. Don't disturb their peace by continually checking up on them. They want to feel comfortable and at home in the property.
Finally, be proactive with renewals. Make sure you reach out to your tenants a reasonable amount of time before their agreement is up. 8-12 weeks is time enough for them to make a decision. Perhaps during this time you want to give them an incentive to stay. Offer a minimal rent increase for the coming year, for example.
All in all, it's good sense to do everything within your power to seek out good tenants and be a good landlord to keep them for the long-term. We offer numerous services for landlords to help you along the way. Feel free to get in touch for more information.
What can we do for you? Buy, sell, let or rent property in South Bank.