• Richard Dawson

How to find the best tenant for your rental

Updated: Mar 24

As a rental property owner, it can be tempting to rent your property quickly in the interest of making the most of your investment. However, it’s important that you protect your investment. You don’t want your property to be damaged and you don’t you want to have to take your tenants to petty debts court. The key is to learn how to find a good resident to rent your home. Here’s a quick guide for doing just that.

What is a Good Tenant? Here’s How to Tell

Picking a tenant is ultimately a business decision. You should pick your tenants based on objective facts. Leasing to the right tenant is crucial to keep your property both occupied and profitable. It can be a very expensive process to find new tenants or to get those who don’t stick to your lease out of your property. When screening prospective tenants’, here are a few factors to consider.

An element to consider when finding a good tenant is their credit score. A credit score doesn’t necessarily paint the whole story of a tenant’s ability to pay rent, but it can give you some insights into their previous behaviours as well as their debt portfolio. A credit report will also show you crucial information such as if a prospective tenant has ever been evicted or filed for bankruptcy.

R.A.D Property Management uses a certified credit check partner to conduct all checks. Generally, you should be looking for accounts consistently paid on time, a stable employment history, and a reasonable debt to income ratio. A low credit score or high levels of debt may be an indication that your potential tenant is a financial risk.

Attracting the Right Tenants

Now that you know what to look for in a tenant, you can work on attracting the person that’ll value your property the most.

Using a Leasing Agent

There’s no reason you should do all the work when it comes to finding tenants for your property. Using a leasing agent can take some of the strain of finding leads off your shoulders. They can take on marketing and advertising tasks. They’ll also spend time with your tentative tenants, guiding them in their search for their perfect future home. Through their meetings with these prospective tenants, as well as the property showings they’ll manage, your agent will be able to get a sense of serious applicants. R.A.D Management works closely with A.W Properties and Connections, local property rental experts, to ensure you find the best tenants for your properties.

How a Property Manager Can Help

If the process of finding a leasing agent, looking through applications, scheduling viewings, and then drafting a lease agreement sounds daunting, you’re not alone. A property manager can market your property themselves or through a partner, show it, organise to have it cleaned, draft a lease, screen your tenants, and handle any future tenant requests or issues. R.A.D Property Management can take care of the whole leasing process, keeping your property occupied and making money starts with finding the right tenant.

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