Screening for tenants is never an easy task. That’s why specialised property managers are highly skilled in this field. Filling in a vacancy takes time, sometimes the right timing and luck if you are going it alone.
Some landlords have this notion that a luxurious space can drive their vacancies up. Having a prime rental property with the best designer furniture and interiors doesn’t always lure in the dream tenants you have in mind. Of course, its eye candy, but there are other factors to think about that are very important to Whangarei renters.
For tenants, there’s always the location to consider, rules such as allowing pets and more importantly, rental price. The rental cost is often the deal breaker. If it’s too steep, you might not have a lot of tenants coming to view, not many people to choose from, and as time goes by, with your rental sitting empty – do you have the option to keep saying no?
And saying yes to the first tenant that walks in is not a good idea either. A letting agent knows that without a thorough screening process you might end up with troublesome tenants that can leave you with a massive repair bill that your insurance may not cover.
Why are Letting Agents important?
A letting agent often serves as a middleman between the tenant and the landlord. They can be very instrumental in finding you the ideal tenant. As a go-between for all transactions and communications about the rental property, a letting agent or property manager can keep things seamless. They’re there to make sure the tenancy moves forward, and to everyone’s satisfaction.
What’s the First a Letting Agent can do for you?
A letting agent or property manager will find you a tenant that suits your needs. Crucially they will keep these tenants’ content throughout the duration of the tenancy, reduce churn and rental voids.
Tenants like a fair, clear and consistent service. They like to feel that they are heard and their requests are met on time. Property management firms are ahead in that game.
The letting agent often informs the landlord about any major issues and relays in the action plan to take when it comes to the tenants’ requests. Simply ignoring your tenants will not stop them from hounding you. Such a move would be detrimental, as tenants might take this as a sign as you don’t care at all about your property, giving them a valid reason not to care about the rental unit as well. But having a letting agent around, you can sleep well knowing someone is making sure even the little details are tended to.
A letting agent can go over the initial tenant application which has all the pertinent information about the potential tenant. This should be tenaciously reviewed, making sure all the facts check out.
Of course, what tenants put in their applications is most likely designed to impress, they do not want to get rejected, and will say anything they can to get approved.
If something is amiss with their application details, then it is worth checking out, such as inconsistent employment dates and addresses. These are issues with the application that a letting agent can dig deep into through a background and credit check.
Background checks can include calling up workplaces listed in the application. If they are moving into Whangarei because of work, you can confirm if a company exists just by doing a simple Google search, or by checking out the workplace address.
If the tenant declared himself as be self-employed, make sure to ask for a business card, website or some of their marketing and promotional materials to prove that his business exists.
Gaps in the tenant’s rental history can be innocent or indicative of something sinister. If a tenant’s application is missing some previous landlord information for some time (usually around six months to a year), then he/she might be trying to conceal a negative tenant status from the past. These are obvious red flags. However, it could merely be that the individual was living with a partner – be sure to check.
If a prospective tenant does not want to provide complete info from the last two years, then you might want to ask yourself why. Whilst traveling overseas, studying abroad or living with relatives can be a good reason, having been evicted from a previous property may not be as positve.
Simply put, looking for the right tenant can be cumbersome. If all of the above seems like too much, We at RentalsCo can help.
We offer an extensive property management service for real estate rental properties in Whangarei, New Zealand. We can take away the headache and ensure your focus can remain elsewhere.
Get the most out of your Whangarei rental property, call us 09 459 7139 and find out more about our highly-skilled letting agents and property managers. Feel free to email us at email@example.com so we can assist you with your property rental needs.