What We Look For In a Tenant
Sometimes property management has more to do with matchmaking rather than plain old bricks and mortar.
Every rental applicant who comes in our door has different wants and needs in a property and our job is to match those expectations with those of the landlord who owns the house or unit.
So, how do we make the perfect connection? We start by doing the usual checks and balances that any agency would (or should) do by checking TICA (a national tenancy database with information on arrears and damages)…if you are a tenant, you do not want to be on here.
Next, we establish they can afford the property (by verifying their employment and income, etc) and we also turn to our industry peers.
Honest information about a tenant’s rental history is essential and the real estate agents work together on this one.
Timing is also a very important factor, as it is the key to getting a great tenant.
If they are a strong application and will be a good tenant – it is like a well-priced house, they are not on the market for long – you want to process that application within 24 hours and give them the good news that they have been successful.
As I said earlier, matching tenant needs with owner needs is vital.
If the landlord has expressed concern at having a pet at the property, then letting Liam move in with his big Alsatian probably isn’t the best fit.
On the other side of the coin, there are owners who love pets and want their tenants to enjoy the property as a complete family (fur babies included).
It’s a constant juggling act, but if you hit the right balance then you have a happy tenant, happy owners and hopefully less stress on your property manager – and that counts as a win for everybody.