Help Finding Tenants for Your Rental Property
If you have already bought a property with a view to renting it out or are still considering this as a possibility, there are some things you need to think carefully about. One of the most important aspects of owning a rental property is the kind of tenants you want to have living there. Understandably, you don’t want bad tenants. No-one does, do they? How, though, do you get the best tenants possible to rent out your property?
Choose the Right Places to Place Your Adverts
Whenever you are looking at property, where do you look? Like most people you would probably head to Zoopla and RightMove, as these are two of the most successful and popular platforms in the UK. However, when you are functioning as a private landlord, you are not able to put property onto these main portals by yourself. You need to hire the services of online agents who do it for you. You simply give them the information; they then place the add and pass the various enquires you get regarding your rental directly to you.
Some great alternatives to the already named brands include:
- Student accommodation offices (if you are targeting students)
- Local newspapers
- Local group pages through Facebook
How to Write the Advert
The most important thing you want from your advert is a lot of interest. This will allow you to be far pickier with your choice of renter than if you only had a limited number of applicants responded to your advert. In order to write the best advert possible, you need to think like a tenant and browse the adverts already on there. You will find there are some that stand out more than others, while some are just forgettable.
Use the things you’ve learned, what worked in others and what didn’t, when writing your own. The best adverts for rental properties should include:
- A compelling and enticing, but accurate property description
- The Energy Performance Certificate
- Tenant requirements
- Is it furnished or unfurnished?
- When it is available to rent
- The rent charges
It is the property description that is going to make or break the advert and your chances of securing highly desirable tenants.
Information to Find Out Before Booking Viewings
Once you have an ad online and are getting interest flooding into your email inbox or through your phone, you need to start thinking about booking viewings. But, before you skip ahead to that stage, ask the potential renters some questions to figure out if they are the right fit for your property.
- Why they are wanting to move into your property
- When they are looking to move in
- If they meet your tenant requirements or not
- What they liked about the property and why they want to move into that one specifically
If you are satisfied with the answers the potential renters give, you can start arranging viewings of your rental property.
So, you’ve done the viewings and you have a tenant who has put down the deposit and is interested in moving in within the timeframe you have agreed upon. What do you next? You need to make sure they are exactly who they say they are by vetting them. As a legality, you need to check they have the right to rent in the UK. This can be easily done by checking their passport or any other important documents such as a birth certificate. You then need to check if they are a suitable kind of tenant for your property and one you want to deal with regularly.
Although you can carry out referencing checks, there are agencies that will do this for you, for a small fee. They can find out:
- Whether the potential tenant has CCJs
- Is Insolvent or bankrupt
- Previous addresses where they have stayed, and credit associated with those addressed
- Proof they are allowed to live in the country
- Verification their bank details are genuine
- References from previous or current landlords
- Verification of their work status and income