Are you looking at renting out your property? In order to do so, you need to find the right tenant. Last week we covered some tips to help you along the way. This week, we have put together some simple questions that you will want to ask potential tenants, before you take the time to check up on references. These question will give you an opportunity to identify potential issues before they arise.
1. What’s your reason for moving?
A very normal, and straight forward question. If your tenant is being evicted or is leaving on a negative note, then this is a red flag! Look for ordinary reasons such as needing to upsize/downsize, new children on the way, or moving closer to work.
Speaking of eviction..
2. Have you ever been evicted?
Another potential red flag is a previous eviction. If they answer yes, make sure you follow up the reasons why by asking previous landlords or agents their side of the story. Also take into consideration how long ago this issue occurred, and if they have had any issues since.
3. What’s your employment situation and how much do you earn?
In order to pay rent, once must have an income. Finding out your prospective tenants source of income and how much they earn gives you a solid idea if they are going to be able to afford the rent. Always take into consideration the combined figure if there is more than one person tenant. And on that note..
4. How many people will be living in the property?
This lets you know about their living situation and how many people your property will play host to. Generally speaking, two people per bedroom is the most you should consider, but this is ultimately your decision. More people will create more wear and tear too, as well as increased chance of damage.
5. Can you provide references from your employer and previous landlord?
References are a great way to determine whether or not your potential tenant is a safe bet. Make sure you call a range of references, so that you don’t get a biased reflection of the individual.
6. Do YOU have any questions?
Give them a chance to ask any questions they may have. You may have decided they’re right for you, but does the other shoe fit? They might need some questions answered before they’re willing to move.
Remember to always trust your instinct, like we said last week – if something doesn’t feel right, then move on to the next candidate. If prospective tenants are unwilling to answer your questions, or only offer only vague answers, then they may not be suitable.
We hope that these questions can help you in the process of evaluating a tenant and finding a suitable fit for your property, however if you have any question, please give one of our friendly team members a call today!