Letting a Property - make sure you choose the top tenant

With one in three UK landlords now reporting cases of rental arrears, it is becoming increasingly difficult for many property owners to choose the right tenant.

Dawn Clarke, Head of Lettings and Property Management at Shropshire property specialists Nock Deighton, outlines some of her top tips for selecting the perfect tenant:

Awesome Advert | advertising your property correctly can help you get a flying start to finding the right tenant. Make sure it’s clear, concise and accurate – don’t make bold claims that you can’t back up. This will get you enquiries from people genuinely interested in the property and weed out the potential timewasters. Most people search for properties via the internet now, so ensure it is advertised on property search websites.

Just The Job | ask for proof of employment, such as a number of consecutive monthly payslips – ideally rent shouldn’t total more than 40% of a tenant’s salary. And contact the person’s current and previous employers to learn more about their job, their salary, and their personality. How long have they worked with their existing company? Are they on a permanent contract? Are they a good employee? Possibly even in line for a promotion? Finding out little nuggets like this can help you make your final decision.

Perfect Paperwork | once you’ve chosen your top tenant, make certain that all the necessary contracts and tenancy agreements are professionally produced and above-board. Set out notice periods, deposits, days on which rent is to be paid, and a detailed inventory of the property’s contents, to protect yourself against any possible disputes further down the line.

Possible Purchaser | ask the prospective tenant whether they would be interested in buying the property outright in the longer-term. Tenants are much more likely to take care of a house that could become their own home in a few years time.

Cash Isn’t Always King | don’t be duped by tenants who offer to pay large sums up front. It may sound an ideal scenario, but there could also be an ulterior motive. For example, a tenant might be looking to cover-up a terrible rental history, or they may be someone who doesn’t want to be disturbed by a landlord so they are free to carry out more unsavoury – and often unlawful – activities.

Founded in 1831, Nock Deighton is one of the Midlands’ most well-established and respected firms of estate agents, lettings agents, chartered surveyors, block management agents, and auctioneers. The company stands at the forefront of the modern property sector by embracing up-to-the-minute technology and industry best practice, and has a firm focus on achieving the very best results through a full range of specialist property-related services and dedicated staff.