How to find a tenant

Finding a good tenant for your rental property in Edinburgh can sometimes be difficult. Your tenant is being entrusted with your most significant asset, so you need to be confident that they will look after your property as if it’s their own. It's also important to have a trustworthy tenant so you know that they will let you know if something goes wrong with your property and pay their rent on time every month.

What do landlords look for in a tenant?

What makes a good tenant and what should you look for in a tenant? As a landlord, these are important questions to ask yourself. A potential tenant should display all or most of the following traits and factors:

• Good creditworthiness
• Good references
• A stable income
• Reliable tenancy
• Trustworthiness
• Respectfulness and responsibility

How to find good tenants

Every landlord dreams of having good, reliable tenants who will stay in their property for the long term. So just how do you find a good tenant? Nicky Lloyd, Head of ESPC Lettings, provides her top four tips to help you find the perfect tenant.

1. Provide a good quality home
   One of the main issues tenants face is the lack of good quality rental homes available. Tenants are now tending to rent for longer in Edinburgh than they ever have previously and are being more selective when choosing a rental property. Well maintained properties will attract more interest from prospective tenants, giving you a larger pool of applicants to choose from. Providing good quality, matching furniture in furnished properties also helps.
2. Charge fair rent
   In addition to providing a quality property, it's important to set your rent at a fair market price to maximise the interest and number of applications you receive. It’s worthwhile remembering that the best tenants, who are going to look after your property, are not necessarily the ones who are willing to pay the highest rent.
  
3. Advertise smartly
   To find the best tenant, it's beneficial to have as many good applicants as possible to choose from. Most tenants will start by searching for rental properties online, on such websites as ESPC. Therefore, it's essential you advertise your property on these property websites which will ensure it is seen by as many potential good tenants as possible.
 
4. Check references for your tenants
   Checking any prospective tenants’ references provides invaluable information when selecting a tenant. You should ensure the following checks are carried out:
   • Credit rating
   • Adverse credit check
   • Affordability check
   • Current landlord reference
   • Employment reference

What do tenants look for?

On the flip side of the coin, it’s also good to think about what tenants look for in a landlord, so you can increase your chances of finding a good tenant. Here are some top tips on how to attract the right tenant to your property, from presentation to cleanliness.

1. Property presentation
   It is essential that you showcase your property in the best light possible. The rental market is extremely competitive and those properties that look the best generally secure tenants quicker and at a higher rent. Your property should appeal to a wide market in terms of décor and cleanliness. Potential tenants really value properties that have been looked after by the landlord and agent.
2. Cleanliness
   It goes without saying that properties should be cleaned to a professional standard before the tenants move in, and they should be clean and tidy for all viewings. A professionally cleaned oven can make it look like new and windows should also be cleaned inside and out. If the property has been empty for a while, dust can gather so a sparkle clean may be required before tenants move in.
3. Décor
   Neutral décor appeals to a wider market. Tenants can then add their own personality to the property with soft furnishings and pictures instead of trying to fit round someone else’s style.
4. Marketing is key
   In this fast-paced property market tenants tend to start their search on the internet. It is important that your property is marketed to its very best. Photographs should show all rooms and offer the best representative of your property. Remove all clutter and de-personalise!

Look after your tenants

Both landlords and tenants deserve an excellent management service. Tenants want peace of mind that should anything go wrong in the property they have someone to contact that will be helpful, responsive and effective in remedying the issue promptly. Happy tenants mean happy landlords and a well looked after property.

ESPC Lettings

If you’re interested in entering the buy-to-let market or are a landlord looking for advice, a new letting agent or a full property management service, ESPC Lettings can help. As a letting agent based in Edinburgh, we can assist with all stages of renting out a home, from finding the right property to sourcing tenants to property maintenance.

Get in touch with the team today on landlord@espc.com or 0131 253 2847.