To avoid unpredictability that can come with filling vacancies in properties, managing tenancy applications needs to be a priority and much more than a quick once-over and a few phone calls to the references that have been put down on the rental application. Many people soon realise that judging a book by its cover can often be a jarring and sadly sometimes a costly mistake, this is why arming yourself with the tools and information needed to make the best fit decision is paramount.
Getting clear and concise answers
When you do your initial assessment on the tenant, make sure you ask questions that should have specific answers. Regardless of whether you have a summary of information about the potential tenant, you should be asking the necessary questions to the prospective tenant’s employer and past landlords or agents. The same applies for the tenants character references, even if you think you are sure they are a good tenant for your property, make sure to give these references a call to get a bit more information. If they lack documentation, like pay slips, proof of current residence, etc, then they should have a good reason, it should be a red flag if they answer “it was last-minute”or that they couldn’t get anything at all that had their name and current address on it.
This application should be no less serious than filling out a job application, if you want smart, mature and responsible adults living in your property, then the application process should be handled by the prospective tenant in the same manner.
Good Questions to Ask:
Did they always pay all of their rent and was it on time?
This is a good question to ask to avoid having to chase down your money every month, a tenant that pays on-time, in-full, is going to save you a lot of grief and obviously make it easier to keep track of finances and expenses. This should be a question that is asked to both the tenant in question, and their previous landlord or agent.
Did they get a good reference from their previous property manager or agent?
You’re obviously not going to get an honest answer out of the tenant here if they wrecked the last place, so make sure you ask how the property was kept? Their past landlord/agent should be able to shed light on this- how did they look after the garden? kitchen? living area? They may not even be the type who will damage things purposely themselves, but maybe they have very reckless friends who aren’t as careful. This is why it is essential to speak to their previous landlord about what condition their property was left in once vacated. Any major damage caused? was there bond returned in full?
Getting the job done right
Ultimately, you should be doing a proper background check on each applicant through a licensed and trusted screening company. At Think Property Co. we always perform a complete background check of your prospective tenant that includes criminal and financial history. This service will cost you just $15, and is well worth it, to give you peace of mind knowing your property will be occupied by someone who has been through this thorough screening process. For more information please give us a call 83206399
If you’re keen to discuss your property needs, sick of bad property management do give us a call!
Martine, Randal & The team at Think Property & Co
18 Little Oxford Street, Collingwood, Australia, 3066
+61 3 8320 6399 / firstname.lastname@example.org