We’re first time landlords and have just started advertising our apartment for lease. The property manager has sent me multiple applications, how do I pick the right tenant?
Tenant selection can be really tricky and your investment consultant is a great resource here to give recommendations on applicants they felt were most suitable to the type of property you have.
A great rental history that has been verified through an Agent with a rental ledger is a really good start and should allow you to prioritise those with a consistent ledger that haven’t fallen in arrears.
Affordability would have been considered by your managing agent prior to them sending you the application however suitability is something you should be considering. Does the property suit the number of people on the application? Have they requested pets?
You might like to preference an applicant who is prepared to take a longer lease term to reduce your letting fee costs.
If you're looking for more advice on your investment property, contact Benjamin Sayers our Investment Consultant, on 0499 980 833.