Choosing the right tenants for your investment property is one of the biggest decisions you make as a landlord.
In this nifty little article we will talk about one of the biggest concerns for a landlord and this is having the right tenant in your investment property Property.
Choosing the right tenant for you investment property can be a daunting experience and one, if the due diligence has not been properly carried out, can have long term headache and heartache.
It is really important that there is a proactive procedure for choosing the right tenant and will commence from the viewing.
Qualifying the tenant will commence from the initial enquiry right through to the due diligence and then choosing the right tenant. This can be daunting especially where there are so many applications.
Tenant Selection Process.
The successful applicant must be able to produce evidence of 3 major areas.
Prove who they are; Prove they are able to take care of the property; Prove they can afford the property Simple …. Right? You may be surprised how far from simple this process can be.
There is so much to consider when carrying out a due diligence on the prospective Tenant that is not necessarily the information they supply on the application.
So ensure that you have done thorough search on the Tenant that will be living in your Investment Property for a period of time that you are comfortable with your choice.
There are no guarantees even after the due diligence of the application but if you know you have done everything you can and researched as much as possible make the decision you are comfortable with.
At Sutherlands our Clients are involved in their choice of applicants and trust that we have been able to gather as much information as possible to assist them in their decision. This gives them peace of mind that their valuable investment is leased with the best possible tenants available at the time.
Feel free to drop us a line and say ahoi, if you have some more questions about selecting the right tenant for you investment property.
Or have quick listen to your video about the importance of routine maintenance!