Finding tenants for your North Shore rental property probably won't be difficult. But how do you chose the right tenants? What's the best way to ensure you get tenants who don't miss payments, who respect your property, and who will stay in the property for a long time?
In New Zealand we're often pretty casual, and some landlords may select tenants purely on a rapport built through conversation. Property managers tend to be more methodical and there are serious benefits to this approach. All you need to do is…
After your potential tenant has viewed the property, this is a good time to gather information about them. In addition to name and contact details you can also find out about their current living situation and rental history. This is where you can request referees to access testimonials relating to their character or previous housing situations. Having your potential tenants fill out this form allows you to shortlist those who look good, or else decline those who raise any red flags.
Once the application forms have determined the tenants who look good to you, you can begin interviewing them. You can do this over the phone, or during a viewing if it suits you better. During this interview you should let your potential tenant know what you are expecting out of them.
This is also a good opportunity to follow up any questions you have about their previous tenancies, such as reason for leaving and whether they've ever been involved in tenancy disputes. It's also best to make sure they understand their responsibilities as a tenant – rent payments, communication with you regarding maintenance, and your need for them to look after the place.
Don't forget to enquire about pets, and let them know your feelings on the matter. As well as finding out how many people will be living at the property, you should determine whether they prefer a fixed-term or periodic tenancy.
You can have potential tenants give you permission to undertake a credit check by including it on your pre-tenancy application. While a bad credit rating doesn't necessarily mean a bad tenant, this will give you details of any payment defaults, court notices, bankruptcies or other financial misgivings that have taken place in the last five years. There are a number of credit check agencies you can contact to perform the task for you, and the results should help you decide whether the tenant is right for your North Shore property.
For more advice on your rental property, or to take advantage of our property management service, contact Ray White Takapuna today.