Selecting the Tenant

You may be in the fortunate position where you have several tenants who want to rent your property. This means you can be more enquiring in the vetting process. At this stage you need to leave all your options open.

The following should be considered when selecting a tenant:.

The nicest, politest and smoothest of talking tenant is not always the best, the cleanest and consistent rent payers are the most reliable.
The tenant who provides a Guarantor is preferred.
Persons moving due to change in their personal circumstances [divorce, separation, leaving home, moving in together], are more prone to be problematic. This is because the transition or adjustment in lifestyle may have additional pressure on the finances. They may have emotional baggage [violent partner], from the previous relationship that may have an adverse effect on them being a tenant.
The tenant with the highest credit score is not always the best, but the tenant whose bank statements make healthier reading is preferred. A person who pays their rent by Standing Order is the ideal candidate.
Consider visiting them where they currently reside, this will show you how they treat the property they currently live in. This is an unannounced visit and be profusely apologetic as "you were in the area and wanted to drop off a copy of the AST for them to look at".
Consider renting properties to person(s) who will have the optimum Local Housing Allowance. In the unfortunate situation where a tenant loses their job but the Housing benefit they will receive is based on needs, NOT WHAT they rent. A couple with a two children of different sexes receive more money than a couple with two girls. See What LHA can I charge? - Your market rent should be no less than the Local Housing Allowance for the dwelling type you provide.