Finding Good Tenants

Your current tenant has just given you notice and now you are looking for a new tenant for your rental property? Let us help you, with this simple guide for finding a new tenant. At Landlords Choice, we’re all experienced real estate professionals and we’ve picked up some insider tips over the years that we want to share with you. We understand that finding the right tenant as soon as possible is of utmost importance as it will reduce the duration of your property being vacant and not generating any rental income.

Set the Scene to Hook a Great Tenant

So, your last tenant has given notice or they may have already vacated the property and you need to find a new tenant.  Now’s the perfect time to take a magnifying glass to your entire rental property and ensure that everything is up to standard.  Attracting a good tenant starts with making your property desirable – so that only the best tenants apply. If your property is above average for the suburb it’s in, then the quality of the tenants you attract will be as well.

Know Your Residential Tenancy Laws

Each state has different laws and regulations when it comes to residential tenancy,  for example, bond amounts or rent paid in advance varies from state to state, so make sure that you are up to speed on your state’s regulations.  The relationship between a tenant and a landlord is a legal contract, so you want to make sure everything you do is within the law.  Make special note of any laws regarding non-discriminatory tenant selection – such as excluding somebody based on national origin, familial status, disability or sexual and gender identity.

Good Tenants Have Good Background Checks

Conducting a tenant check is a vital part of the tenant selection process. These checks will benefit you as a landlord, assisting you in the decision of choosing the right tenant for your property OR it could identify any red flags that may cause problems in the future.

Look for tenants that have a steady history of rent payments and those that are financially responsible. You can find out all these details from the information that the applicant submits.  To double check their application, a simple search on the National Tenancy Database (NTD), can confirm this. Just make sure, the applicant has given permission for you to do a background check and share their personal information with a third party.

Landlords Choice offer NTD checks as an additional service to your rental package purchase. With our extensive experience we know exactly what signs to look for to find you a new tenant. Visit our Packages page to find out more.

Engage in Conversation and Ask Questions

Make sure that you engage with each person at the open inspection. Have a conversation with them and get to know them a little more. You can use this time as an opportunity to ask a few questions which will help you determine if the prospective tenant is the right fit for your rental property.  Be sure to cross-check any information later with their previous landlord or other references they provide.

Asking the main reason for the tenant’s current move will give you an indication if the tenant was evicted for non-payment or if they broke any house rules at their previous residences. Good potential tenants you want to look for are those who are relocating for a career move, or those looking for a bigger space as they are looking to expand their family.

When conducting background checks and contacting previous landlords, some questions you could ask include, whether the tenants were clean occupants, respectful neighbours, or even how did the relationship progress between landlord and tenant as time went on.

One tip for assessing potential tenants you sometimes read about is to accompany them back to their car, if it’s parked outside your property. Take a look at the inside of their car, if it’s clean and tidy, then there is a good chance that’s how they will keep your property as well.

There are many different ways to assess a potential tenant’s suitability for your property, so try to gather as much information as possible.

Want Our Help?

We understand that you may be busy with work and you may not have the time to perform a thorough search. That’s where Landlords Choice comes in. We’ll help you every step of the way, from advertising your property online, getting enquiries to you, and conducting NTD checks if needed. Get in touch and we’ll take the hassle out of finding a tenant for you.

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