The following are the most important tips to keep in mind for effective tenant placement:

1. Ask about how tenants are verified. The main goal is to find tenants who can afford and will care for the property, so validation and verification of tenant information is key to avoid issues in the future. Credit Checks, Employment Checks, Pay & Bank statement check and tax records if they are self employed, social media checks, and Landlord Credit bureau for any previous Landlord reporting issues.

2. If the Tenant Placement Service does manage to arrange an appointment for an initial interview, ensure that they do have a valid image, honest background and financial references. This is extremely important in ensuring that the tenant will provide true and accurate information, rather than choosing to provide false data, which could place your property in risk of being lost or remain unused.

3. If a tenant is happy to arrange a home visit, inspect the property with them, keeping in mind that first impressions are important. All too often, potential tenants claim to have no prior knowledge of what a property inspection entails.

4. Always take references – a leased property is by no means cheap, and given that a service from a complete stranger will be required whilst you prepare the property for new occupation, this is invaluable. Independent evidence and testimonials from previous clients are the final resorts when it comes to securing reliable tenants.

5. Never sign a lease agreement until a tenant has had an initial visit to your property. Not only is this to protect yourself from a poorly managed service, but it also gives an opportunity to find out if the tenant is suitable, and should there be a need to terminate the agreement.

6. Offer an incentive to your potential tenant to take one of your properties. For example pays for any work carried out in excess of the specified expenditure and/or decorating allowance. Whilst it can be difficult to strike a balance between taking a business rent and keeping your services running, equally, it allows you to find new tenants on your rental portfolio. Take a look at our rent table concessions page for more information.

7. Do a thorough reference check – you are entering into business with a number of people all moving with completely different personal and financial circumstances; it is important to assess each candidate personally. If you do find a tenant and want to keep them, always comply with your rental regulations while the lease agreement is being drawn up.If a tenant vacates your property you will also be fully responsible for the financial costs of finding a new rental candidate, either via another agent or yourself.

8. Have a formal periodic inspection procedure for your tenants. A formal inspection process will help ensure that all necessary repairs are carried out in a timely and efficient way. It will also ensure that tenants have priorities of things which must be addressed as they arise.

9. Review the lease agreements you will need to sign with your tenants to ensure you’re familiar with the standard and additional conditions that you will be agreeing to with your new tenants. Have the Tenant Placement Service provider explain the implications if you are not familiar.

Clear Communication

Tenants who find a property which they are happy to rent will appreciate that you have addressed the tenant accommodation needs and expectations, and that you are providing them with the best possible service at all times. Speak to your property provider in a clear and straightforward manner with regards to your standards for tenants and your expectations of those who seek accommodation on your rental portfolio. You should pay attention to how the tenant responds to your questions and comments, and whether they understand fully the terms and conditions you lay out. Remember that the next tenant has access to the same facilities, but if you retain their services, it is a license for you to provide the same level of service to your new tenant as you provided the previous.