Renting a Property - How to Pick the Perfect Tenant

With tenant demand across parts of the UK continuing to increase, the buy-to-let market has seen something of a renaissance in the early part of 2011. But how can landlords make sure that they manage to get the right renter for their property?

With more than 600 properties in its letting portfolio, Shropshire lettings agency Nock Deighton has a wealth of experience in helping find suitable tenants. For homeowners and landlords thinking of renting out a room, house or flat, here are a few pointers to consider when finding a suitable tenant:

Good Form | produce a professional and in-depth application form for potential tenants to fill in, so you have all the information, history and contact details you need to carry out your vetting of candidates at your fingertips.

First Isn’t Necessarily Best | accepting the first offer for a quick deal might sound like a great idea, but even if you think you have the perfect tenant lined up, take your time to consider all the alternatives. Choosing the wrong tenant quickly will cost you far more in the long run than finding the right tenant carefully.

Ensure You Are Insured | check you have the appropriate landlord insurance policy in place. And always take out a Rent Guarantee insurance policy, to protect your rental income if tenants can’t afford to pay, as well as cover for any legal expenses you might incur in cases of repossession, tenant default or debt recovery.

Personal Profile | what sort of person wants to rent your house? Meet your prospective tenants to find out why they are moving – do they set off any possible ‘warning lights’? And get in touch with their previous landlords to see what sort of a tenant they were – did they pay the rent on time? Did they look after the house? You don’t want to discover any nasty secrets further down the line!

Document That Deposit | landlords and estate agents are required to protect their tenants’ deposits under a scheme set out in the Housing Act 2004. If you, or the agent, fail to register your tenant’s deposit with 14 days, a court could order the landlord to pay its tenant up to three times the value of the initial deposit.

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.