How to Get the Right Tenants

Getting the right type of landlords insurance is key for anyone renting out domestic, or commercial property. But getting the right type of tenant first will save you a lot of future heartache.

So once your landlords insurance policy is sorted out (never, ever let a property without this vital protection in place), the next thing to consider is just what sort of tenant you want to inhabit your house, or office, or factory.

Now this might sound like one of those blindingly obvious issues that is more a matter common sense than a real consideration, but its surprising how many times people do not give this some real thought.

Okay, if you are for example a major commercial landlord, then you will most probably have a letting agent who will do most of the work for you, but even then, it's likely you will have a company policy that says we welcome these type of tenants (ones that can and will pay for example) and not these (say in an industry known to suffer financial problems).

For domestic owners it isn't so easy and even if they make use of a letting agency, then they will often have to choose from a list of potential tenants put forward by that agency. So for home owners once the landlords house insurance policy is set up, the next big consideration is the right kind of tenants.

The letting agency should have first sorted out a list of likely candidates with a probability of getting through a credit check and which on paper at least can afford to pay the rent over the length of the tenancy agreement (one of the best reasons for sound landlords property insurance don't forget). If the people on the list have rented before, most agents do a quick call to the previous letting agency and just quietly discover if there were any problems with that particular deal.

So, the landlord should get a list of possible tenants, all who stand a good chance of affording the property.

Next job is to select the ones that will be the best type of tenant. Now okay, strictly speaking, this should really be decided on a first come, first served basis. But, that's in an ideal world. The canny home owner (one that has the foresight to arrange landlords house insurance), knows care picking the right tenant at this stage will save problems down the line.

So, give some thought to whether you prefer retired couples (quieter maybe), families with kids (more than likely to be long term), or single people (possibly more disposable income). And don't forget all the possible permeations of those categories?

Don't forget: good landlords insurance comes first, then the selection of the right tenants. Simple really!

How to Get the Right Tenants

By: Maline Morgan

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