In a perfect world we’d all love a high quality tenant right? But lots of people function avoid seeing the worth in performing what must be done to make sure that happens.
A great tenant with impeccable references along with a solid work history knows that they’ll be valued. So that as they’ve been leasing for some time, they already know what this means is they are able to rent an excellent property – and without getting to pay for a letting fee.
On the other hand, a not-so-good tenant won’t be quite as savvy or they might not have as many options available to them.
The demographic of a Tenant is changing and more and more we find excellent quality tenants…I mean doctors, Lawyers, business people, school teachers the list goes on, that are treated poorly, expected to live in less than ideal accommodation and get charged a letting fee (usually one weeks rent so in some cases that could be $500) for the privilege of the experience.
So if you are not getting a good quality tenant then what are you getting?
In all likelihood, you will ended up with a second-tier tenant. Second-tier tenants are more likely to:
- Cause damage to the property.
- Upset the neighbours.
- Pay their rent late – or default on payments altogether.
- Generally cause a headache for the property manager and property owner.
So, avoid the hassle of a second-tier tenant; engage a property manager that;
- Works for you and does not derive additional income from a letting fee.
- Ensures your investment is kept to a high standard of maintenance so that you CAN attract a good quality tenant for the best possible rental rate
- Has a strict policy in place while selecting the tenants, perform stringent credit and reference checks and ensures that the applicant going into your property, is the best possible applicant not just the person willing to pay.