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Why it pays to keep a good tenant

Tags: london / Landlords / tenants / buy-to-let / renting

30 June 2017 11:18

What does the ideal tenant look like to you?

Meet Billy:

Billy, a lego character standing in the doorway of his lego house overlooked the lego garden"Hi, I'm Billy!"

 

Billy pays his rent on time, keeps the apartment in good condition and has rented his propery for over two years. Billy is the perfect tenant.

Unfortunately - tenants like Billy can be hard to find and landlords are constantly struggling with difficult tenants who cause them financial and personal stress. At LiFE we have several checks and processes in place to make sure that we find good tenants that will be able to live comfortably in their new home whilst also meeting the requirements of their landlord. 

 

So why is it so important to keep a good tenant? 

  1. LESS STRESS - Keeping a good tenant makes receiving rent, maintenance, and miniamising void periods all a lot easier for you, making your job as a landlord less stressful and more rewarding. Who doesn't want that?
  2. You keep more money in your pockets - bad tenants can be a pain to get rid of and can leave you worse off financially. Perhaps they are refusing to pay rent or perhaps you are struggling with void periods. If you're dealing with a good tenant, you don't need to worry about uncertain financial loss.
  3. Better relationships - if you have a better relationship with your tenants they are more likely to be more reasonable and understanding if there are any problems with the property

Someone changing the channel on their television with a remote whilst in their living room

 

Now we understand the importance of renting your home to the right tenants, the task begins of finding one. Trying to match the right tenants to your property yourself can seem like a big challenge. At LiFE, we do our very best to ensure that we get the right tenants in from the start of the tenancy to make everyone's lives happier. Our vetting process includes:

 

  1. Thorough background checks: we check employment history, current landlord experience, credit checks, and require 6-months worth of bank statements
  2. Communication: from the initial phone call to the viewing, we take time to get to know applicants to understand what they are like, what they are after and what they can offer as a tenant. If they're not right, we won't submit their application - simple!
  3. Experience: as property professionals, we've dealt with a lot of tenants. We trust our gut as well as the information we are given to make an informed decision.
     

If you'd like us to help you find the right tenant for your property, please contact us on 02088969990. (You never know, we might just find you the next Billy!)

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