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10 questions to ask potential tenants before approving their application

Tenants

MyPropertyLife 17 Mar 2016

10 Questions to Ask Potential Tenants Before Approving Their ApplicationIt goes without saying that every landlord is on the lookout for fantastic tenants. So how can you differentiate the great prospects from the not-so-great? Asking the right questions at the beginning can help you separate the good from the bad. Here are ten questions to ask every tenant before you make a decision.

1. Why are you moving?

This question gives the potential tenant a chance to tell you a little bit about themselves and their current situation. Perhaps they are moving to be closer to a good school for their kids? Or maybe they would like a bigger/smaller place? There are hundreds of reasons why someone might decide to move, and most are perfectly valid. That said, keep an eye out for any ‘red flags’, such as moving due to disagreements with their current landlord, or because they are facing eviction.

 

2. When would you like to move?

If a tenant is anxious to move in as soon as possible, this could be a sign that they haven’t thought this through and are acting on impulse. A definite ‘yes in four weeks’ is better than an enthusiastic ‘yes’ today, followed by a ‘no’ tomorrow. Of course, there can be exceptions to this rule, but it’s a good idea to proceed with caution if someone appears overly keen.

 

Read more: The benefits of having an arm's length relationship with your tenant 

 

3. How many people do you plan to live with?

As a landlord, you have the right to specify how many people can live in your property on a permanent basis. Several factors may contribute to your decision, including the size of the property, how much wear and tear it has seen and even your personal preference (some landlords prefer couples over families, or vice versa). This question also invites the potential tenant to tell you about their future plans. For example, are they thinking about having children? Or do they have teenagers that are soon to move out? Their answers can help you determine whether they are the right fit for your property.

 

4. Do you have any pets?

Pets can be a dealbreaker for some landlords, as every pet is different. While some pets barely leave a trace, others have been known to cause permanent and lasting damage. You can either implement a blanket ‘no pets rule’ or assess the situation on a case-by-case basis. If you do allow pets, it’s a good idea to meet them first, or ask the potential tenant to let you know its age and breed. You may also want to get the tenant to sign an agreement in which they acknowledge they are financially responsible for any damage caused to the property by their pet.

 

5. What is your weekly income?

Salary may seem like a taboo topic, but as a landlord you have a right to make sure any potential tenant is earning enough to comfortably cover rent, bills and living costs each week. Although it may occasionally be tempting to ‘give people a chance’, if tenants pay late this can put you in a financially precarious position. Numbers don’t lie, so be sure to do the math.

 

6. Will you have the bond and deposit ready on the move-in date?

This is a chance to let the tenant know much money they need to have upfront in order to secure the property. Again, it’s important not to be flexible here; it’s best to start as you mean to continue so the tenant never sees payment as something which can be negotiated.

 

7. Have you ever been evicted?

Although slightly awkward, it’s important to ask this question for your own peace of mind. If the tenant has been evicted from another property, ask for further details. It may be that this eviction was 20 years ago when they were a student, or maybe it was as recent as last week. Try to get all of the facts on the table before you make a decision.

 

8. Can you provide references?

You may be wondering: ‘how do I know if my prospective tenant is telling the truth?’ As tempting as it is to believe everything someone says, references will let you know for certain. Responsible tenants are usually more than happy to provide several references, whereas those with a poor track record will probably try to avoid fulfilling this request.

 

9. Will you consent to a credit check?

As with references, requesting a credit check allows you to verify whether they are telling the truth about their financial situation. Again, most people with nothing to hide will be very obliging; it’s those who resist that pose a potential problem.

 

10. Do you have any questions?

Last but not least, give the prospective tenant an opportunity to ask you some questions about the property, and do your best to provide detailed answers. The more your tenant feels acknowledged and understood, the more they are likely to be respectful and communicative in the future.

 

Keen to know how to find the very best tenants for your property? Check out our FREE guide:

 

A Guide to Avoiding Risky Tenants

The information provided by MyPropertyLife is general and is not intended to serve as advice. Please see our Disclaimer for further details.