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by Guy G, Guy

And, if you think finding a good tenant depends on luck, you couldn’t be more wrong, or else why don’t you work to ensure luck favours you, at least, in relation to the right choice of tenant. That means taking the following measures to reduce risk concerns that will guarantee the well-being of your rental property.

First, adopt Tenant Screening, which is the magic mantra of all successful, savvy landlords. How many landlords can confirm they carry out a complete tenant screening exercise, when looking for prospective tenants? Not many if gauged from the horror stories that float around about property damage! To get a good tenant, a landlord must be thoroughly professional about the entire tenant screening process, and verifying past landlord references is an essential part of every standard screening process. Call them and question them about prospective tenants.

Second, as an important part of the screening process, visit or at the very least, drive by the property the tenant intends to vacate, in order to assess its physical condition. The odds are your prospective tenant will treat your property in the same manner he / she treats their current rental home.

Third, photograph and videotape as in before and after advertisements, in the presence of the tenant after he / she has finished signing the lease. This evidence will ensure tenants look after your property as if it were their own. After all, if taken to court, the before and after evidence ensures law is on your side, no matter what argument the defendant might put up.

Fourth, before handing over your property prepare a complete Property Condition Report documenting the state of your property. Go over it with the tenant and once he / she has signed the inventory and condition checklist, he / she is on record, and you have another legal document, in addition to the lease.

Fifthly, before handing over possession, take a substantial sum as security deposit including the first month’s rent. With so much at stake, the tenant will ensure he / she looks after your property well.

As long as you follow the above steps, you will be able to find a responsible tenant to take good care of your property.

These include market research, and the property's location, sizeand affordability. Also, remember to budget for hidden or unexpected costs andscreen your prospective tenants.

Researchyour market

If you decide to do this yourself, you willneed to collect information from local estate agents, newspapers, employers andso on, to find out about demand and supply for rental property in the area.

Location,location, location

Shops, transport, schools, parks and so on:will these are these the types of services draw tenants? If there is a schoolnearby, are you happy to rent your property to people with kids?

Sizematters

A larger property may accommodate a family,while a smaller one will better suit a single person, a student or a couple.Who would you prefer to rent out to?

Hiddencosts

Aside from the mortgage costs, there areother costs involved when buying to let, such as maintenance costs. should also be included in the budget, as this can save youplenty of money in the long run. Get a quote for online with Direct Line For Business today.

Checkyour tenants

Check out your tenants before they move in.A background check, references, a call to confirm their places of work, andmaybe even a credit check, will give you peace of mind when the first tenantsmove in. will also cover you if your tenants to accidentally damage orbreak something and you need cash quick to fix it up.

Pleasenote that Direct Line for Business does not control and cannot guarantee therelevance, timeliness, or accuracy of the article above.

Article Source : Pg. 5

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Both Guy G & Simon are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Guy G has sinced written about articles on various topics from Property Guide. To know more, visit our website . Guy G's top article generates over 1600 views. to your Favourites.

Simon has sinced written about articles on various topics from Home Improvement, Insurance and Adventure Travel. . Simon's top article generates over 165000 views. to your Favourites.