Who are your tenants?
Will they pay rent on time?
Could they damage the property?
These are just a few question you might have in your head as you begin letting to a tenant. Below we’ve outlined some key things you should do to build trust with your tenant as your start your tenancy.
1 The Tenancy Agreement
By including periodic inspections within your tenancy agreement you’ll be able to gain an understanding of who your tenant actually is. Ensure these are carried on a quarterly basis at the start of the tenancy, as you get to know the tenant, these inspections can be reduced. Should the tenant be unhappy about your inspection, this could be an indicator that they have something to hide.
2 Tenant Referencing
Carrying out a reference alongside a credit check (for a credit check written permission must be provided by the tenant) on your tenants should be your priority before doing anything with the tenancy. Receiving knowledge from the tenant’s previous landlord will ensure you have prior understanding of their ability to pay rent, whilst their employer will give you an insight into their attitude as a person. Think about a tenancy agreement clause outlining how the tenancy may be withdrawn as a result of the reference being bad.
3 Stay Quiet
Simply staying quiet will give you an indication of the tenant’s ability to pay rent. Openview’s automated rent arrears reminders will continue to remind the tenant when they enter arrears meanwhile. Should their arrears build up you should act immediately.
4 Be Aware Of Rent
The tenant’s rental history is key to getting to know your tenant. Use your references to understand their previous rental payments with previous landlords. If a tenant opts to pay a lot of the rent upfront, be aware they may trying to avoid an inspection throughout the tenancy or could potentially be money laundering, meaning it’s even more important to follow anti-money laundering procedures.
5 Let The Neighbours Know
Let your neighbours know they have new tenant’s moving in. Should they complain about the noise, this will give you an indication of how they’re likely to be to deal with as a tenant.
6 Can You Contact Them?
Are your tenants easy to contact? When you send them an email do they respond straight away? When you call them do they answer? Simply considering how they communicate will give you an indication of their correspondence skills.