For any rented property landlord in Bristol looking to bring a tenant on board, there’s no doubt a temptation to get everything signed, sealed and delivered in terms of getting them moved in and settled.
It’s the quickest way to start bringing in rent and making a solid return.
However, if the process of onboarding a new tenant is not done right when a new tenant is coming in, it can cause a number of problems down the line in terms of unpaid rent, broken rules, and other issues that can take months to reverse.
For this reason, it always makes sense to ensure that the correct checks are carried out before you allow someone to rent your property, such as:
While someone may have a good credit history, it doesn’t always mean that they have the means to keep up with regular rental payments.
It makes good sense to always check that someone has an income that will mean they don’t simply neglect to pay.
Asking for a confirmation letter from an employer and some recent pay slips can go a long way to proving that they have the income to be able to afford their rent.
City Rental Services pays extra attention to the picture that a Bank Statement can paint, as it offers an excellent detailed lifestyle picture.
Another thing that is always worth checking when you have a new tenant coming to live in your properties is whether they have a good history as a tenant. If they have rented before, then they will probably have dealt with a letting agent to do so, and that agent can vouch for them on a number of points.
If they paid their rent on time, always kept the place looking as it should and left without any real problems, then the letting agent should be able to give you a positive reference that lets you know you are getting a good tenant moving into your property.
It may seem a little corporate, but after you’ve checked everything else and it all looks good to go, why not just have a little informal chat with the tenant themselves to ask any questions.
Look for things like what they are hoping to get out of that property in particular, why they are choosing to live in the area, their rental past, and any other relevant factors.
It can help you paint a good picture of whether they will be a good fit for your property and a good tenant moving forward.
Here at City Rental Services if a perspective tenant has not been in their current employment for at least a year, we request that a Guarantor is put in place. We also often speak with the Guarantor, to ensure that they are aware of their responsibility.
There are many ways to assess a perspective new tenant but we find the above to be the most simple and informative.
To find out more, simply contact our independent lettings agency on Gloucester Road here.