Selecting The Right Tenant
Selecting the right tenant is one of your property manager’s key roles and they will have a sound selection process they will go through.
Your property manager has gained experience in the selection process by having prospective tenants in front of them on a daily basis giving them the ability to decide who will be the best tenant for your property and screen the unsuitable applicants.
Criteria such as employment and background checks are important. If an applicant has been a problem tenant in the past, it will most often emerge in the checking process. In terms of renting a property, a quality property should attract a quality tenant.
The better the selection of a rental investment property by a landlord, the better the tenant it will attract. Investors should ask themselves if they would be better off leaving tenant selection to their property manager – they do this all day everyday and they will do background checks.
A property manager should check previous rental history and employment of perspective tenants to ensure that they have a good track record. You may also wish to request that your property manager runs a tenancy database check as an added security measure and peace of mind for a small fee. Many agents will utilise National Tenancy Database (NTD) for a comprehensive background check on all prospective tenants.
Posted: Thursday, 8th October 2009 at 4:02 pm
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