realestatebusiness logo
Subscribe to our newsletter SIGN UP

How to choose the best tenant

January 05, 2016 Cindy Knight 0 comments

Here’s a scenario. Imagine you own a business. You know how important it is to have quality employees who care about the business and who make an effort to ensure that it runs smoothly. A high staff turnover is detrimental to the success of the operation – and you certainly don’t want lengthy staff vacancies.

The same goes for rental properties. It’s a business and your tenants are the employees, so it’s imperative that they are top quality, that they take their responsibilities seriously and that they’re committed to the long term. 

Here are some key tips for tenant selection that will help you find quality ‘staff’ who are reliable, motivated and committed to working with you to protect your portfolio and brand. 

  1. Screen prospective tenants carefully and thoroughly

Strict screening is absolutely essential if you are to find the best tenant for your property – and it’s not easy to do this on your own, which is why landlords enlist the services of professional property management companies that have the experience and expertise when it comes to screening potential tenants. Ensure you use various screening techniques such as investigating tenancy databases to identify quality tenants with a proven track record.

  1. Contact their references

Many landlords have made the wrong choice of tenant simply because they didn’t follow up on references. Unscrupulous tenants may even falsify testimonials to secure a property – and the losers are generally the landlord and property manager. It does take time to personally contact referees and check that the information provided is correct, but it’s an important part of the screening process and an absolute necessity. It’s one of the reasons that many landlords choose to list their properties with property management companies, because they know that the screening process will be thorough and that only quality tenants will be accepted.

  1. Find out why they want to rent the property

Understanding someone’s motivation for renting can be an important pointer as to whether they will be a quality tenant or not. People with long-term employment contracts, who work in the area or whose children go to the nearby school are more likely to be solid, reliable, long-term tenants than someone who is looking for interim accommodation before buying their own home or switching jobs. 

How to choose the best tenant
lawyersweekly logo

Cindy Knight is the general manager of Time Conti Sheffield in Victoria Park, Western Australia. Cindy has been working at Time Conti Sheffield since 2002 and during this time has seen many changes in the property management industry in Perth.

Cindy is passionate about delivering the best service to every property investor that walks through the doors of Time Conti Sheffield and her insider knowledge of the local real estate market means she is an expert in her field.

More articles from this author:
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 50 women 2018

The 2018 REB Top 50 Women in Real Estate ranking is out now, see the full 2018 ranking here!

featured podcast

featured podcast
Doing what is required for the day – and doing it every day

Bill Tsounias believes that achieving an end goal is simple – break it down to the basics and take it day by day. ...

View all podcasts

How do you get your day started?

I get up early and get to the office to get ahead of my competition
I get up early and get an exercise workout in first thing
I take my time getting to the office, avoiding exercise, to be fresh when I hit the phones
I have no regular routine, rather I take everyday as it comes
Do you have an industry update?
Ensure you never miss an issue of the Real Estate Business Bulletin. Enter your email to receive the latest real estate advice and tools to help you sell.