How to Find a Good Tenant

Finding a good tenant is the most important phase of the entire lettings process. After all, the tenant will be the one living in and looking after your property, and they will be responsible for paying the rent on time every month and informing you of any issues in the property. In short, it is imperative to find the right tenant for your property and asset. 

To find a good tenant, it is also important for the landlord to offer a property and provide a service which is more likely to attract a good tenant.

In this article we provide all the information you need to know about attracting a good tenant and enjoying a stress-free tenancy as a landlord. 

What Should I Look For in a Good Tenant? 

Firstly, it’s important to consider what qualities to look for in a good tenant.  If you know the qualities to look out for, your chances of finding a good tenant will be higher. 

A good tenant is someone who will look after the property as if it’s their own, has the ability to pay their rent in full and on time every month and will preferably live in the property long-term.

Finding a Good Tenant

The following points can all help you to find a good tenant for your rental property:

• Understand who your target tenant is, and offer a property which suits their needs
• Market your property effectively and choose a reputable lettings agent
• Prepare the property for viewings, including sorting out any maintenance issues
• Present yourself in the best possible light to prospective tenants
• Only select tenants who have a stable job and a good credit history
• Maintain professional, open and honest communication with your tenant
• Deal with any issues with the property swiftly

Now let’s move on to some further detail about what to look for when trying to find a good tenant. 

Do They Seem Reliable and Responsible? 

In your dealings with the prospective tenant, think about how they have behaved and conducted themselves. Consider the following questions: 

• Have they been punctual to appointments?
• Have they let your agent know if they haven’t been able to attend an appointment?
• Have they provided any requested information within a reasonable time frame?
• Have they provided documentation quickly?

Are they organised in their search, giving themselves reasonable time to secure a property in advance of their required date of move in 

If the potential tenant seems to be reliable in the initial phases of the lettings process, this is a positive sign. They will be more likely to respond quickly to any questions you may have during the tenancy, report any problems with the property quickly, and plan ahead with their rent payments. 

Have They Asked Questions About the Property and the Area? 

It is a good sign if the tenant is asking questions about the property. Even questions such as when the bin collection days are, where meter readings are located and how to use appliances, indicate that the candidate is genuinely interested in the property. 

Likewise, if the potential tenant is asking questions about the local area and amenities and services, this is another good sign that you are dealing with someone who is likely to be a good tenant. 

It is important for you provide information to your agent so they can be prepared for any questions the applicant may have. Make sure they know your property and the area inside out. 

Do They Have a Stable Job? 

It goes without saying that with a stable job, a prospective tenant is more likely to be able to pay the rent. Ideally, the person’s monthly income will provide them with enough to pay their rent and bills, and have some money left over to allow them to live comfortably. Look for your agent to secure open banking references so you can verify this stability of income as part of the referencing process. 

Do They Have Good References and Credit History? 

The most important parts of the screening process for any landlord are referencing and credit checks. It is important that complete references are secured. This will include open banking checks to see monies coming in and rent going out in the preceding period before their application. It will also include a reference from the prospective tenant’s current or previous landlord. This should give you a clear indication into the type of tenant the applicant will be. 

The Credit and financial checks will provide you with the information you need to determine whether the potential tenant will have the ability to pay the rent each month. 

Remember that if it is an imperfect reference you can always request a guarantor from the tenants and if they can provide one they should always be a homeowner in the UK themselves 

How Do I Attract Good Tenants? 

Part of the process of finding a good tenant is doing everything you can to attract a good tenant. There are a number of things you can do to attract good applicants, which we will discuss in this section. 

Seek Feedback from Current Tenants 

It is a good idea to ask for feedback from the tenants who are currently living in the property. This will allow you to address any issues which you were not aware of before you put the property on the market, and will help you to find good tenants. 

Who is Your Target Tenant? 

It is important to consider who your target tenant is. This can help you to establish what you may need to do in the property to attract the type of tenant you are looking for. 

For instance, you may want to offer your property as furnished if you are looking to attract young professionals. 

Stand Out From Other Properties 

If your property is not particularly unique in the area then you need to ensure that tenants are enticed to select your over the others available at the same time. Discuss how to achieve this with your agent and ensure that you utilise the additional services available that may just tip the balance in your favour. A good example is Deposit replacement where a tenant is not required to put down a cash deposit at the start of the tenancy. For a tenant looking to spend money on making the property their home this may be very helpful and the reason they chose yours over another. 

Think About What Modern Tenants May Need 

Related to the above point is considering what the modern-day renter is looking for. For instance, a dedicated home working space holds far more value now than it did a few years ago. 

Other things which you may consider include the possibility of secure storage for bikes.  

Where possible don’t close off your market place by restricting how a tenant can occupy the property. Pets are a prime example and, while you need to ensure your tenancy protects your rights and ensures the condition of the property, you may find a high quality tenant with a settled pet is much more likely to stay long term and issues with pets are in fact very rare. 

Marketing is Important 

Getting your marketing right can ensure that you get your property advertised as widely as possible. Also, don’t forget the power of social media, which can be particularly beneficial if you are looking for young tenants and professionals. 

At Chancellors, we advertise available rental properties on the likes of Zoopla, Rightmove, On the Market & Boomin. We also have wide ranging social media campaigns to ensure local visibility is as high as possible. We will ensure that your property gets wide exposure, leading to a larger pool of potential good tenants to choose from. 

Find out more about our lettings services here. 

Don’t Rush Into the Tenancy 

It is vitally important that you find a tenant who you think will be a good fit for the property, who will maximise your rental return and will do so for the long term. If the tenant has most of the attributes you are looking for but you have a few concerns, it can be worth being brave and not accepting the first offer you recieve, particularly if you have planned the marketing right and commence your campaign well in time before the prior tenancy ends. If your property is vacant then you will need to be more decisive of course but that shouldn’t mean progressing with a bad deal. 

Even if all the referencing and checks are positive, if something doesn’t seem right, it is definitely worth asking the prospective tenant some questions. Doing so could save you a lot of time, money and stress in the long-run. Your agent will also guide you through their views on how the tenants have dealt with them in the application process to help give you as full a picture as property 

Prepare Your Property for Viewings 

Preparing your property for viewings is one of the most important stages of the lettings process. If you want to attract the best applicants, you need to make sure that the property is presented in its best possible light at viewings. 

You can prepare your property for viewings by ensuring that: 

• Maintenance issues are sorted
• The property is clean and tidy
• The property is well-decorated
• Any worn furniture has been replaced
• The property’s exterior looks as inviting and welcoming as possible through increasing the curb appeal

The current tenants are prepared for the viewings and discussions have been had about keeping it tidy and clear of clutter wherever possible 

Keep the Property Clean, Tidy and in Good Working Order 

If vacant you must make sure your property is tidy, clean and presentable as it will be an instant concern for any viewer if it isn’t. This of course means making sure the inside of the property is clean, tidy and well-maintained. Recent refurbishments and redecorations are even more likely to attract a larger pool of good prospective tenants. 

If the property is advertised as furnished, make sure that the furniture is good quality and that it is matching too. It goes without saying that you need to make sure that the boiler, gas, electrics and smoke alarms are all working as they should. Also, ensure that there are no issues with windows, doors, locks, taps, leaks, water pressure and temperature throughout the property. 

The Benefits of Letting Agents Viewings 

Lettings agents are available to conduct short notice viewings on the behalf of landlords and are likely to be more knowledgeable about the current market. They are usually better placed to answer the questions which prospective tenants are likely to have and will guide them swiftly through the application process. 

Choose the Right Lettings Agents 

Choosing the right lettings agent can be the difference between getting your property let out or not. Your lettings agent needs to understand the market they are operating in, as well as what is required to effectively manage a tenancy. 

Here at Chancellors, we offer a range of specialist services to landlords, including full lettings management services. Trust us to take care of all aspects of the lettings process, and enjoy the peace of mind that can bring. 

Present Yourself in the Best Possible Light 

As well as presenting the property in the best possible light, it’s important to give a good impression of yourself as the landlord.  Demonstrate that you are professional and be friendly with prospective tenants in any communications you have and ensure you are swift to respond to any questions from the agent so that your potential tenant is not left waiting. 

Maintain your professionalism and approachableness throughout the tenancy to help keep your tenant happy. 

Open and Friendly Communication 

Keeping communication open between the tenant and the landlord and/or lettings agent is key in any tenancy. 

Some of the things your agent will do to help with good communication include:

• Making your tenants aware of who to contact in an emergency
• Responding promptly to questions and concerns of tenants
• Keeping tenants updated with progress of any maintenance work
• Book tradespeople for work during the week rather than weekends

When managing a property your agent will also arrange inspections of the property to check in on your tenants. This will ensure they are seen to be maintaining the property but is also an opportunity for them to flag any issues or concerns so they can be resolved in time for any renewal discussion, and will generally mean that they are more likely to stay at your property for longer.

Encourage the Tenant to Communicate Any Problems to You 

It is a good idea to let the tenant know that you and your agent welcome them informing you of any problems with the property during their tenancy. Addressing the problem before it becomes a bigger problem is important. 

Some tenants may genuinely be worried about reporting problems, fearing that you will blame them for the damage or even ask them to move out. 

You can help to ensure that the tenancy runs as smoothly as possible by making it clear to the tenant that you would appreciate them telling you about any problems which arise in the property. 

Deal With Any Issues Quickly 

It is no secret that maintenance issues are an unavoidable part of renting out properties. Make sure you take care of any maintenance issues promptly, whether this is a broken washing machine, a leak or a broken lock. Work with your agent to respond quickly and ensure contractor orders are placed without delays.  

Good communication and prompt action on maintenance issues is a way of demonstrating to good tenants that you value their tenancy. 

Long-term, it also makes financial sense to deal with maintenance issues. Regular maintenance will help to ensure that costs are kept down when the time comes to bring the property up to standard when looking for new tenants. 

Tell Your Tenant You Want Them to Stay 

If you are happy with your tenant, it is a good idea to tell them directly that you would like them to renew their rental agreement with you. 

With your approval your agent will get in touch with them a couple of months before their tenancy term is due to expire to encourage them to stay.  This will open the dialogue and could potentially lead to your tenant deciding to extend the tenancy. 

Are You Looking for Landlord Services? 

Here at Chancellors we offer a range of services to landlords. This includes a full property management service, which means that we will market your property, screen potential tenants and find the perfect tenant to live in your property. We will also take care of all maintenance problems and other issues which may arise during the tenancy. 

Enjoy full peace of mind, with our landlord services, designed to make your letting out experience as smooth and stress-free as possible. Trust our highly experienced lettings agents to manage your rental property with professionalism, knowledge and an unrivalled level of customer service for both tenants and landlords. 

Did you know that we also offer a range of services to buyers, renters and sellers? 

To find out more about how we can help you let out your property and our full range of services, please contact us today.