As a property investor, you want to make sure that your property has a high occupancy rate, on time rental payment and generates maximum rental returns with no tenant issues.
To achieve this, it starts with having the right tenants in your property. You want people who will look after your property and treat it like their home. That’s why you need to have a rigorous process to screen tenants.
Here are Our Reasons Why Tenant Screening is More Important than Ever
1) Tenant Screening Protects your Property
We believe having the right tenant protects your property. For example, you can screen applicants for past criminal history of property damage, violent offenses, eviction records or other crimes that could be a risk to your property.
By doing the right screening upfront, you can reduce your risk and protect your property and the community.
2) Tenant Screening Protects You
You want to make sure that you are renting your property to someone you trust and that is financially responsible to pay the rent.
After all, there’s nothing worse than renting to someone who doesn’t pay the rent or pays it late.
3) Tenant Screening Protects your Other Tenants (if you own an HMO) and the Community
Whether you have other tenants in an HMO, or you have a single let property, tenant screening helps keep your local community safe.
Our Rigorous Tenant Screening Process
To help you find the right tenants who will treat your property with respect, pay rent on time and get along with other tenants and the neighbours, we search for prospective tenants using our rigorous screening process.
The result is finding tenants that will be a pleasure to deal with, making your life easier and ensuring the financial success of your investment.
The first step in our screening process is effective marketing. If you only have one interested person, then screening is of little use. You want to have a good selection of quality tenants to choose from.
And because we don’t charge any agency fees or contract renewal fees for tenants, we attract high-quality tenants for you to choose from.
Our rigorous screening continues with the first meeting to check the potential tenant’s character and attitude. When prospective tenants view your property, we chat to them to see what type of person they are. This initial meeting can find out how their job is, do they like it, how long have they been there, if they move often, what they are looking for in a rental and if they’ve had trouble in previous rentals.
The next step is to have the potential tenant fill in a detailed application form, to help us establish current and previous tenancy and employment history.
The next step is the most important part of our tenant screening process… reference checking. We call their work, personal references, and prior landlord references to find out about their previous renting experience, the stability of their income and the impression they’ve left on people in the past.
Next, we interview the potential tenant to ensure they are suitable for your property. We check their traits against the criteria of your ideal tenant.
After this process, we contact you to discuss the application based on its merits. We give you the positives and negatives. And then the final choice of the tenant is your decision.
If you need help finding the perfect tenants for your investment property, get in touch with REKA Property Management. We help our clients get the best return on their investment with the right tenants.
Call us on +44 (0) 203 286 6468 or email us at Admin@RekaProperty.co.uk