As an investment property owner and landlord, it can be difficult choosing the right applicant amongst the many that come through. We’ve listed a few things to consider as a landlord if your property manager requests you to choose the top three candidates for example.
A good and reliable tenant will benefit you in the long run as they will treat your home as their own. This means reduced maintenance costs and minimised wear and tear. A high-quality tenant will ensure the property’s value is not compromised by their residency.
- A complete application – seems obvious right? Not always and never underestimate the power of a detailed application. The more information your potential tenant has included, the better equipped you’ll be to make a decision.
- Positive reference checks – this step can make all the difference when hearing genuine positive things from a tenant’s contacts. Hearing from an employer gives that added security that the tenant is employed and able to pay their rent.
Once you’ve accepted a tenant’s application, these are the positive signs to look for to ensure a smooth six – twelve-month contract. If these signs are consistent throughout the contract, it decides to extend much easier for the landlord.
- Pays rent on time – Another one that seems fairly obvious but a tenant that pays their rent promptly shows they respect the nature of the rental contract.
- Caring for the property – Keeping your personal space clean is important but is not always reflected in some tenants. A tenant that takes pride in keeping their place neat, tidy, and clean is valuable to the long-term needs of a property.
- Easy to communicate with – A tenant that responds to calls and emails promptly makes life easier for both themselves and the property manager which in the long run means you as the landlord will be satisfied.
- Is honest about maintenance issues – A good tenant will communicate with you when something needs attention. Their requests are genuine and should not be overlooked.
- Renew the lease – If your unicorn tenant ticks the above boxes, renew their lease! They are hard to come by, and a lease renewal is less stress and paperwork for everyone involved.
A respectful and honest relationship between the landlord, property manager, and tenant will ensure everyone is happy. Ray White Urban Springs can assist you as an investment property owner in finding the right property manager and the right kind of tenants. If you’re looking for expert advice on the Perth rental market and investment guidance that ensures you get the best return contact Deborah Horder on 0433 098 029 or email@example.com.