How to Find Good Tenants: Our Top Tips

The property market is, quite possibly, hotter than ever right now. And that applies to letting and renting, as well as buying and selling. Do you have a property to let out? It’s highly likely that you will be inundated with possible tenants, but you don’t just want any tenant, you want to make sure that you find one that is reliable, respectful and right for you.

Thankfully, we can help. We’ve been in this business for a long time and that experience has given us a clear idea of what it takes to attract high-quality tenants for your property. Here are a few tips:

Look After the Place

This goes without saying, but we can’t stress enough how important it is to maintain your property and keep it clean and in a good state of repair. Good tenants will be attracted by clean, well-maintained homes – whilst they will be instantly put off by grimy kitchen appliances and faulty lights.

Whether your property is currently vacant, or let to an existing tenant, our advice remains the same. A property that is properly cared for will not only attract attention from the more discerning tenants, but will also demonstrate that you know how to be a responsive landlord – something every good tenant is looking for.

The Power of Added Extras

Whether it be air conditioning, new appliances, built-in wardrobes or even LED lighting and an electric fireplace – so-called ‘MOD cons’ can’t be underestimated when it comes to attracting tenants. After all, we all love toys and gadgets.

In the current market, it’s not just professionals who expect high spec accommodation, today’s students are also on the lookout for homes that can offer them a cut above in terms of quality.

Such installations and added extras will also add value to the property overall and can potentially help save energy and the environment, so it really is a win-win situation.

There are two main kinds of tenants looking for properties to rent in Leeds – professionals and students – and each will look for something different when it comes to selecting a new home. The kind of property you have, and when it can be available, has a strong bearing on the type of tenant that you will attract.

Larger HMO’s (Houses of Multiple Occupation) are popular with the student market, where groups of friends will choose to rent together on a Joint Tenancy; or individuals on a room-by-room basis.  If you have a standard 2- or 3-bedroom home, particularly with a garden, you can expect to see more demand from professionals and families.

The Student Market is cyclical – with tenancies traditionally starting on on 1st July for a 12-month tenancy, whereas the professional market is much more flexible, with a typical 6-month minimum term.

Working with a Letting Agent like HOP can help you identify the right target market for your property, give you tips on how to make it stand out to your potential tenant and help you understand what you might expect by way of rental values.

Referencing is Key

Another essential step in finding a reliable tenant is doing your due diligence and making sure you properly reference any potential candidates. The goal is to remove as much risk as possible when it comes to choosing a tenant, so that you can rest easy knowing that your property is in good hands.

When you let your property through HOP, we vet your tenants for you with a thorough referencing procedure that looks at several different factors. For Student tenants, who won’t be working full time, we always take on a Guarantor who also goes through our referencing process.

In addition to in-depth referencing, by working with HOP we can offer other assurances such as a Rent Guarantee, to ensure your mortgage payments are always covered in the event that something unexpected happens and your tenant can’t pay their rent.

Get in Touch

Here at HOP, we have extensive knowledge of renting and letting. Let us help you rent out your home and get the best possible tenants. Give us a call today on 0113 320 2100 and our friendly team will be glad to help.

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