The ideal tenant – how do you find one?

Published 18/10/23, 8:36 am

You need to filter ideal tenants from the outset

During your initial communication with prospective tenants, go through the basic details of the flat or house being offered. Find out whether it meets their requirements regarding the amount of rent and fees, as well as their intended move-in date. Pay attention to your first impression and note down all relevant information. This will allow you to efficiently filter out serious applicants to invite for an in-person viewing.

Do not underestimate your personal impression

At in-person flat viewings, pay attention to how the prospective tenant comes across to you. Before you even ask a future tenant anything, they will already have made a first impression. Did they arrive for the viewing on time, were they well presented, and did they greet you politely? Or did something about them not feel right? You may not even know exactly why, but you have a bad feeling about that person. It is often worth listening to your intuition. On the other hand, bear in mind that fraudsters can often make a very pleasant first impression. You should also remember that even decent people may have trouble paying rent.

What questions can help you find your ideal tenant

Do not be afraid to ask a tenant personal questions – after all, you are entrusting them with your valuable property. If they do not want to answer, take it as a warning sign. Naturally, it always depends on the people involved; everyone has a different story and their own reasons, but at least the questions will help you form a clearer picture of the tenant and find out.

The tenant’s household status

This will give you an indication of who will be living in your flat and how they are likely to look after it. For example, you may prefer a couple to a single person, as two incomes make it more likely that the rent will always be paid, and there is also a greater chance that at least one of them will take care of regular cleaning.

Where they currently live and why they are moving

This can help you find out whether there were any issues with their previous tenancy.

Where they work and the type of contract they have

This will give you an idea of how stable their employment is and how regular their income may be. You can ask the applicant to show you their employment contract or a bank statement confirming regular income.

Financial commitments

Whether they have any debts, enforcement proceedings, child maintenance payments, etc.

Plans for the future

How long do they plan to live in the flat?

Tip: If the idea of such an interrogation makes you uncomfortable, you can ask the tenant to complete a questionnaire.

Trust your ideal tenant, but verify them

Also ask the tenant for references from their previous landlord or employer, as well as confirmation of no outstanding debts. These measures will help you gain a better understanding of prospective tenants’ reliability and financial stability. You can also check a prospective tenant yourself using public debtor registers:

1. Enforcement Register.

2. Insolvency Register.

3. Debtor Register.

4. Czech Police database – missing persons search.

Do not cut corners on a quality agreement

Another important preventative measure is a well-written lease agreement. When you clearly define the rights and obligations of both parties, you can prevent many misunderstandings and disputes. The agreement serves as a legal safeguard for both parties, giving both the tenant and landlord confidence that they can enforce their rights. The agreement should specify all terms in detail, including the amount of rent, payment dates, conditions for ending the tenancy, routine maintenance arrangements, etc.

Clear rules from the outset

Clarify with your future tenant what you each expect from one another. For example, the tenant is legally responsible for routine maintenance, but not everyone knows this. Larger alterations, on the other hand, may only be made with the owner’s consent. These matters should also form part of the agreement, but it is certainly advisable to draw the tenant’s attention to them explicitly. You should also arrange the option of regular flat inspections so that you can identify issues in time before they lead to more substantial damage. In return, you should be available to the tenant when needed and not unnecessarily delay resolving matters. Clarifying mutual expectations will provide a good foundation for your future relationship with the tenant.

Professional tenant care

For a hassle-free rental and fewer worries, you can use professional property management services. Our experts at Bohemian Estates have in-depth market knowledge and experience in selecting reliable tenants. They will also handle all administrative and technical matters connected with letting your property, including tenant selection, preparing lease agreements and regular property maintenance. Professional property management also provides legal protection and helps resolve any disputes with tenants.

Rent optimisation

Professional property management can also help optimise rent in line with the current market. Experts monitor price competition and help set a fair, competitive rent, increasing the chances of finding a reliable tenant. Excessively high rent may deter many applicants; moreover, your flat may remain vacant for a long time and you will lose rental income in the meantime. There is also a risk that, even if you find tenants, they will not be able to afford such rent in the long term, will move out, and you will have to spend more time and effort finding new tenants. If the rent is too low, on the other hand, you risk unnecessarily losing income and may attract tenants with lower financial means.

By using these tips and professional property management services, you can more easily find the ideal tenant and minimise the risks associated with letting your property.