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Here, we鈥檒l guide you through the most effective steps to sourcing a suitable tenant for your property.

Identify your ideal tenant

Who would suit your property? Is it well located for a university and attractive to students? Is it a home near good schools and parks which would appeal to families? Perhaps it would work best for corporate tenants relocating from overseas.

Picture the person (or people) that you see living there. That will affect the way you market it. Work out where they spend time online for example. Pick the social media channel or lettings website that鈥檚 used by that demographic. Or work with a letting agent that鈥檚 well connected with your target market.

At 博鱼体育集团 Frank, we let every property type, from family homes to student accommodation. Our wide network helps us find your ideal tenant 鈥� individual, corporate, local or international. You can trust us to match your property with a great tenant.

Discuss their rental intentions

Are you looking for a long or short term let? If you want someone to rent your property ongoing, then you need to find someone who matches that intention. Someone who鈥檚 here on a six month fixed term corporate contract will be unlikely to still be renting your property in two years.

Being upfront with your potential tenant from the offset is really helpful for both parties. If you want this to be the start of a long term tenancy, take care to nurture and build that relationship from your first conversation. A reliable long term tenant is the goal for most landlords. Void periods [link to void periods blog], when your property lies vacant between tenancies, can be costly. Ideally, you want to minimise tenant turnover and any gaps between tenancies too.

Beverley Kennard, 博鱼体育集团 Frank Partner and Head of Lettings Operations, 鈥淥ur average tenancy length is two years and continues to increase. Over the last two years, over 80% of 博鱼体育集团 Frank tenants served notice to end their tenancy.鈥� As property managers, we get to know your tenants to create lasting relationships. We know that this makes a positive impact for both landlord and tenant.

Check their financial stability

Once you have your shortlist of potential tenants, you need to perform financial checks. You want assurance that they鈥檒l be able to pay the rent each month. You鈥檙e looking for someone with a stable income, a decent credit history or another reliable way of financing their rent. Generally, it鈥檚 only those without this financial stability who are resistant to checks being conducted.

It鈥檚 also worth noting that if your contract is an Assured Shorthold Tenancy agreement, you need to put their deposit in a . That鈥檚 to ensure it can be returned to them at the end of their tenancy, providing they meet the set criteria.

Our comprehensive screening services include thorough financial checks to assess the stability of potential tenants. We can also manage the ongoing rent collection and deposit protection too.

Conduct a comprehensive compliance and vetting process

It鈥檚 not just financial checks that need to be performed. There are various compliance check boxes that need to be ticked too. Firstly, you need to ensure the person has the in the UK. That relates largely to their immigration status.

You should also gather qualified references to assess their likelihood of being a decent tenant. References from former landlords are valuable. They鈥檒l give you a good indication of the tenant鈥檚 behaviour and reliability, and the level of care they鈥檒l give your property.

Handing over your keys to a stranger is a big deal. You need to trust that they鈥檒l look after it, and will pay rent each month or week. Our best-in-class compliance and vetting processes protect you and your investment. We鈥檒l do the homework to minimise your risks, and find the highest quality tenant for your property.

Communicate effectively with your tenant

You鈥檙e likely to get a feeling about the reliability and suitability of a potential tenant when you first meet. The questions they ask and the way they communicate will indicate how engaged they are with the property. You鈥檒l get a sense of how they鈥檒l act as a tenant. Proactive, communicative tenants are more likely to speak up when there鈥檚 an issue or if they need assistance, for example. This contributes greatly to a positive landlord-tenant relationship.

Gaining an understanding of your tenant鈥檚 preferences and communication style is helpful. Knowing if they prefer to pick up the phone or send an email means that you can tailor your communications to suit them best.

We have an online communication platform, My 博鱼体育集团 Frank, which we鈥檝e found hugely beneficial for our tenants. It鈥檚 a single source of information, where they can refer to tenancy documents, messages and more.

Let us help you to find your ideal tenant

Sourcing high quality tenants for our clients is part of our day to day business. With a vast network at our fingertips, we can find the best possible people for your property. We also work closely with relocation agents who source many of our corporate tenants.

Our wonderful team of letting agents and property managers build positive relationships with landlords, tenants and potential tenants. We have particularly strong connections in prime residential areas across the UK. Let us support you through the rental property process and help you to achieve your goals.
Find out more about our exemplary letting service, and contact our team to discuss your needs.