Light handed, never complaining, always punctual and incredibly clean. We’re sure this is what the perfect tenant looks like to most landlords. Finding this person is the hard part though but not impossible. Here are a few tips to help you protect your investment and find great tenants.
Make sure your property isn’t putting off those perfect tenants but rather attracting nice clean people. To do this you have to think about your potential tenant’s entire journey. So, first of all, where will you advertise your property? Discover where the people you want are searching and looking at and advertise your property here.
Next think about the first impression you give of the property. Most property searchers will want to see photos of the property, but make sure it’s looking at its best. This means free of clutter and dirt and taken on a light and bright day to make the rooms look more spacious. A floor plan can also give prospective tenants context for the photos.
Don’t just stop at the photos, really describe the whole experience your tenant will get from choosing your property. Talk about the area, things to do and ease of transport and really tell a story in order to let your prospective tenant imagine themselves living in your property.
When choosing the right people to rent your property you must ensure you’re fully aware of who they are. To do this you’ll first want to meet them in person. Show them round the property and try to gage their reactions. For example if they’re happy about how clean and tidy it is, the likely hood is that cleanliness is something they value in their own home.
Get references from current employers and previous landlords and follow up with questions and queries. These are the people that can give you more of an insight into who will be occupying your property. You should be looking to see whether they can afford the rent payments and if they have been punctual with rent in the past.
Lastly, once you’ve met your potential tenants and gained an insight into who they are, this is the time to make the choice. Go with your gut feeling and never be afraid to say no. This is your investment and your income and you need to protect it as best you can.
Once you’ve found what seems to be the perfect tenant you’ll want to still have processes in place to protect your property and your income. Before moving in you’ll want a deposit put down, first month’s rent paid and a contract signed.
Once the tenants are in, carry out regular property inspections to ensure the property is being kept clean and free from damage. This should be every three months to try to keep any damage that does happen to a minimum.
Take out Landlord insurance to protect you against any major damage to your property and loss of rent from tenants who won’t pay or who disappear. As a landlord, regular Home Insurance just won’t do and may be voided if you ever needed to make a claim. Landlord insurance takes the specific needs of a landlord into account and provides specialist, tailored cover.
If you need to protect your property investment and income then Landlord Insurance is the answer. Plus with UKinsuranceNET we could save you money through comparing over 20 insurers to find the best quote. Call now on 01325 346 328 and Quote Ref WS1.