Choosing the most suitable tenant for your property can be a challenging task, especially when you have multiple applicants. As a landlord, you want to ensure that you choose a tenant who will pay their rent on time, stay long term, take care of your property, and cause minimal disruption to you or your neighbours

We have put together some tips for choosing the most suitable tenant for your property from multiple applicants.

Before you choose a tenant, it is essential to conduct thorough background and reference checks. This includes checking their credit score, employment status, income, Right to Rent in the UK and rental history. You can ask for written references from their previous landlords and their employer to get a better idea of their character and reliability.

One of the most important factors to consider when choosing a tenant is their income. You want to ensure that the tenant can afford to pay the rent each month without any issues. As a rule of thumb, it is recommended that tenants should earn at least three times the monthly rent to ensure that they can comfortably afford it. If affordability falls short, a Guarantor is likely to be recommended. The recommended affordability ratio is higher to account for their own living costs plus in the event they need to cover the tenant of your property defaulting.

As a landlord, you want to rent your property to a responsible tenant who will take care of it and cause minimal damage. Look for tenants who have a good track record of taking care of their previous rental properties and who have not caused any significant damage or issues. Their application should tell you how long they have lived at previous addresses to give you an indication of how often they move.

When choosing a tenant, it is also important to consider their lifestyle. For example, if you have neighbours who are sensitive to noise, you may want to avoid renting to young sharers. Before marketing the property, consider if you would be happy to allow pets- you may decide you are happy with a cat or a small dog but not larger breeds or multiple pets. This can form part of the applicant qualification process before viewings are even booked to avoid wasting peoples time.

If you are intending to let the property long term, you would ideally like to secure tenants who are also looking for a longer term let. Fewer tenant transitions can mean less wear and tear on the property form moving furniture, appliances etc and also less inconvenience as well as cost for you as a landlord. You can have a rough idea how long someone is likely to stay based on age of children for local schools, whether the family is likely to grow or by enquiring if they are likely to buy in the near future. We have seen an increase in people selling their own properties then moving into rented accommodation in the short term until they find their onward purchase. If they are chain free it puts them in a stronger position ahead of other buyers. If you suspect someone is looking for a short term stop gap between selling and buying a property or likely to request an early contract termination they may not be the most suitable tenant for you at this time.

Ultimately, as a landlord, you need to trust your instincts when choosing a tenant. If something does not feel right about a prospective tenant, it is better to err on the side of caution and choose someone else. Conversely, if you feel confident about a particular applicant, then they may be the right choice for your property. If you are local to the property and undecided based on the information an agent is giving you, you could ask to meet the prospective tenants to help you choose.

During the selection process, it is important to communicate clearly with all applicants about your expectations, requirements, and any potential issues that may arise. This includes being clear about the rental agreement, the terms and conditions of the tenancy, deposit amount, and any policies you have in place. Clear communication can help avoid misunderstandings and ensure that you choose the most suitable tenant for your property. Appointing an agent can make this process much easier.

In conclusion, choosing the most suitable tenant for your property from multiple applicants requires careful consideration and thorough background checks. Look for tenants with a good track record of paying rent on time, taking care of their rental properties, and who meet your income requirements. Consider their lifestyle and trust your instincts when making a decision. By following these tips, we hope you can find a responsible tenant who will take care of your property and ensure a positive renting experience for both of you.