1. Conduct Adequate Background Checks.
It’s always ideal to let your property using a real estate agent because through a real estate agent, prospective tenants are always required to fill out an application form and a prospective tenant will need to inspect the property first with the real estate agent.
2. Always Get A Tenancy Deposit And Put It Into An Authorised Tenancy Deposit Scheme.
There are no “IFs,” “ANDs,” or “BUTs” on this one. You need to always collect a tenancy deposit no matter what the prospective tenant tells you.
3. Get a Well Written Tenancy Agreement.
Never accept any tenants that refuse to sign a tenancy agreement. A tenancy agreement contains the terms and conditions of living at your property.
4. Undertake Routine Inspections
You’re legally entitled to undertake routine inspections of your property.
5. Don’t Accept Just Anyone.
Avoid giving out your property to just anyone especially if there are other warning signs that a potential tenant could be a bad tenant.