Anyone investing in UK property to let knows how important it is to find the right tenants. Choose a great set of people to live in your buy-to-let, and you’ll enjoy a hassle-free landlord experience, with rent paid on time, and your property respected and well maintained.
However, pick the wrong tenant, and you could end up with a whole range of problems – which could have been avoided, if you’d adopted the correct approach from the start. If you’ve recently bought a buy-to-let property for sale, and you’re ready to start searching for tenants, here are some things to keep in mind.
How to Find the Right Tenants
- Choose the right buy-to-let property for sale. Buy in a popular area, close to transport links, good schools and local amenities, and you’ll have your pick of tenants to choose from. Invest in a property in a bad area, and you’ll struggle to get much interest. Remember, location is
- Advertise in the right places. It’s important to make sure that your property appears in front of the right people, so you’ll need to find out where your target market are browsing when they’re searching for rental accommodation. You may find it easier to hire a letting agent to help you with this.
- Vet them carefully. Arrange an interview to meet prospective tenants in person, and don’t be afraid to ask questions – it’s a vital part of the process. In addition to checking their right to rent (a legal requirement), it’s a good idea to check references, plus ask for proof that they can afford the rent.
Keeping a Great Tenant
- Maintain good communication. Tenants should be given privacy to enjoy their lives, but that doesn’t mean you should never make contact with them. Sending some occasional polite correspondence is a wise idea, as is undertaking inspections from time to time. This ensures that you identify any issues before they become large-scale problems.
- Be understanding (but not a pushover). Of course, investing in UK property is a business, and should always be treated as such. However, that’s not to say you can’t show your human side on occasion. Tenants appreciate it if you show understanding on certain matters, and are more likely to remain loyal to you in the future.
- Don’t send their rent sky-rocketing. Most tenants appreciate that rental rates may rise over time. If, however, you increase them dramatically in a short time period, your tenant is unlikely to be impressed. It may even be enough to make them start looking for alternative accommodation.
The Buy2Let Shop
If you’re looking for the ideal buy-to-let property for sale, designed to impress tenants and ensure a steady rental yield, talk to The Buy2Let Shop. Our team of specialist property investment agents are on hand to help with every aspect of your investment in UK property; from finding a bargain house, to securing it at the perfect price.
We also offer assistance with buying a property at auction, and hold regular property investment seminars, designed to empower your purchase, whilst ensuring your knowledge of the market remains up-to-date. To find out more, simply visit The Buy2Let Shop website today.