In a flat rental market where there are more vacant properties than tenants, an anxious landlord may be willing to take a risk on a tenant without a documented rental history. When the rental market is tight and demand for liveable properties high, those tenants with verified references and a sound credit history have the pick of the few available properties.
How to be an Ideal Tenant
Regardless of the state of the market, which type of tenant would you prefer to be? It is hard enough to get the ideal rental property in the perfect location if you tick all the boxes. You need to know what attributes landlords are looking for in their ideal tenant to make the process of renting easier.
As a property management agency, we are responsible for finding the best tenants we can for the properties we look after on behalf of our landlords. They trust Prudential Real Estate with their valuable assets and a large part of that is having the right people living in these properties.
References are Evidence of a Sound Rental History
There are a number of standard documents that most agencies request at the time of lodging an application. Having these on hand means that when a property becomes available, you don’t have to waste time finding them. References from a past tenancy and also an employer are needed to establish past history in both areas.
Proof of Financial Stability and Photo ID
Current pay slips and bank statements will also help establish the financial ability to rent a property. It will be no surprise that some type of photo identification such as a driver licence or passport may also be required to prove identity. Sadly, the prevalence of identity theft means that a personal assurance that these are your documents will no longer do.
Know the Terms of the Tenancy Agreement
Once a tenant secures a property, they must then make sure that they uphold all the terms of their tenancy agreement. This not only means paying the rent on time and in the format required such as a direct debit, but also keeping the property neat, clean and tidy. When inspections are scheduled by the agent and agreed by the tenant, there should be no impediment to entry when the agent arrives.
Report Maintenance Issues Promptly
A good tenant also raises maintenance issues promptly with their agent. This allows the problem to be rectified before it becomes bigger and more expensive to repair. It also demonstrates to both agent and landlord that the tenant considers the property to be their home and cares for it accordingly.
With renting rather than buying becoming the norm, every tenant needs to treat their tenancy with respect to give them the best chance of getting the property they want.