Deploying patience when searching for the perfect tenant is one of the best things you could do for yourself. Time and time again we have owners who rush themselves into deciding to soon to take on a tenant just to get the income from their property without taking the extra time to find the right tenant.
I understand that you need to get an income from your investment as soon as possible, though rushing a decision like this may just cost you a lot more in the long run. By not searching your options and taking an extra week or two in some cases, rather than just taking the best application on a day, you may find that even though it was the best application amongst everyone that looked, they’re not exactly the best tenant.
Plenty of tenants have never owned a property and don’t have the same level of respect for their accommodation as an owner does. They don’t necessarily go into a property with the intention to break things, though their typical lifestyle and carefree attitude may mean the wear and tear in a property over years may be advanced into twelve months. The hardest point to prove is whether it is expected wear and tear or a negligent tenant.
Don’t just settle for the best application after an open for inspection, take the time to look around and save yourself thousands of dollars in maintenance bills rather than losing a few hundred dollars for a couple of weeks rent.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.