5 Steps To Selecting The Right Tenant
Follow These 5 Steps To Land Your Ideal Tenant
by Kate Fuller, Senior Property Manager, NPB Adelaide
1. Get to know your prospective tenants.
Get on the phone with prospective tenants or have a chat when your property is open for inspection. Don’t be shy, ask questions and learn more about the people you are going to be trusting to live in your investment.
2. Personally Call References.
Prospective tenants will provide you with employment and rental references as part of their rental application. Make sure you (don’t outsource this step) pick up the phone and speak with these references, ask questions and gauge their enthusiasm toward your prospective tenant. Read between the lines.
3. Who is the best fit for your property?
Think about your ideal tenant and who will be best suited to live in your property. Is your property suited to a family with young children, or would an older couple be more suited? Also consider the length of stay your prospective tenant may require – make sure it works for you.
4. Trust your gut.
Be alert to little cues when dealing with prospective tenants. They should approach their application much like they would a job interview, so take note of how they speak with you, if they’re punctual, how organised they are and even how they are dressed (doesn’t mean they need to be wearing a suit).
5. Don’t rush your decision.
Ensure that you are very comfortable with your decision about who to place in your property. A wrong decision can lead to many months of stress and frustration, so it is vital to choose wisely.