Make the process of finding suitable tenants easier by following these six steps.
There is nothing more frustrating than having tenants who you have to chase for payment or who wreck your property.
To avoid this and to make your duties as a landlord easier, use the below checklist to help you choose the best tenant:Check if the potential tenant has a steady job or other reliable sources of income, as this shows that they are more likely to be able to consistently pay the rent on time. As a general rule of thumb, a prospective tenant’s income should be at least three times the monthly rent.
Do the research. Ask for references from previous landlords and make sure to contact them, as this tells you that an applicant is more likely to be a reliable and responsible tenant.This will show you that the tenant consistently pays rent in full and on time. Late or missed rent payments can have a significant knock-on effect on your cash flow and the property’s profitability, so it’s essential to choose tenants who have an established history of paying rent on time.