Finding the right Tenant for your rental property is important, but just what do you need to do to find that Tenant? We speak to Hymie Bentley from Mundys Lettings in Lincoln, to get in the know.
There are a number of simple things that a Landlord can do to help attract the right Tenant. For simplicity we have listed these below;
- Property Condition
Its important that the property is shown in its best order to generate as much interest as possible. Do any works such as decoration, cleaning or tidying the gardens before any property viewings are completed.
- Price Appropriately
To maximise the amount of interest in your property its important to ask the correct amount of rent. Not too expensive, because it will limit interest. But too cheap and people may discount your property because they will assume that there is a catch! Letting Agents will be able to confirm how to price a property based on properties that have recently let, and should show you evidence of this so you know it’s right.
- Property Advertising
To generate as much interest as possible, we would recommend trying to reach as many people as possible. You can use social media to share information about the property that you have available, local press, word of mouth and adverts in shops. However most important is property portals such as ‘Rightmove’, ‘OnTheMarket’ or ‘Zoopla’. This is where most people will start looking and you want them to see your property first!
- Ask Questions
If you have a couple or family that are interested in your property, ask questions so you can build up a good picture of them. Without asking questions you will not know anything about them, good or bad. The kind of information that I would ask are; Where do you work? What is your income? Where are you living at the moment and why are you moving? Such questions are a good starting point.
- Check the Tenant
Talk is cheap, and whilst the information that the potential Tenant has told you may be true, in may not be. Referencing is important to verify this. Specialist referencing firms help to independently check the information provided. Most commonly a reference will complete a credit check, income or employer reference and previous landlord reference. All elements of a reference provide useful information about the Tenant.
- Be Selective
When you enter into a Tenancy Agreement you make a commitment to the people who will be living at the property. Just because someone has said they would like to live in the property doesn’t mean that you should allow them to do so. If you are not happy with the response to the questions that you have asked, their reference or you have a gut feeling; say no, and continue your search.
- Ensure your Tenancy Agreement is right
The Tenancy Agreement is the legal document that confirms the responsibilities of each party. You should ensure that the people who are living at the property are all noted on the agreement and make sure that the agreement is accurate, especially the important details like; rent amounts, payment dates, deposit. But don’t forget the other items that need to be completed and served at the start of the Tenancy, in accordance with legislation.
How can Mundys help?
Mundys residential lettings are award winning specialist letting agency based in Lincoln. If you have a property that you are considering letting speak to our expert team. We will not only ensure that we find you the right tenant, but remove the hassle and stress leaving you to enjoy your own time. Call or Email us now.
Mundys Residential Lettings
Call; 01522 556099
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