So you bought a property and now you want to rent it out. Naturally you are hoping to find good tenants that will treat the property like their own. But what makes a good tenant?

· Good tenants pay on time.

· Good tenants keep to the conditions in the contract.

· Good tenants cause no damage.

· Good tenants are not noisy.

· Good tenants notify the landlord of necessary repairs.

· Good tenant gives plenty of notice.

How Can You Attract Good Tenants?

1. Under Promise – Over Deliver

Be prepared to totally overcome a potential tenant’s wildest expectation of a property. Be sure that the fences have a new lick of paint and that the landscaping in the garden looks neat and tidy. Good tenants take pride in the place where they live and require the property to look good.

2. Find Creative Ways to Market

Advertise where you think good tenants will see it, whether that is the Internet of the local newspaper. Be sure to have plenty of information and images. If you are using the Internet, you can even use material like virtual tours or videos.

3. Show the Property in Good Condition

This means that all ladders, tools boxes, plastic etc. should be put away even if you are still busy renovating. Good tenants want to view a property as they would get it. It would be ideal if potential tenants can view the property after the previous tenants moved out.

4. Price the Rent Slightly Under Market Rate

Good tenants are willing to pay for the ideal property, but you can make their decision easier by offering rent just below market rate. This way you will also attract more potential tenants to choose from.

5. Run Credit Report

This might seem obvious but some owners still think that they can get away without running a credit report just to find out that they are stuck with a bad tenant.

6. Verify Information

Call the employer of the applicant and verify all information given. Also ask for a previous landlord’s contact details to find out what kind of a tenant you are allowing to rent your property.

7. Give Discount to Your Long Term Tenants

If you think about it, it does make a lot of sense to reward a good tenant by offering a discount in rent in order for them to extend their lease. If you sit down and do the math you will find that you might be saving yourself a lot of money by hanging on to your good tenants.

8. Ask Previous Tenants for Leads

If good tenants are moving out, be sure to ask if they know friends of family that might want to rent the property. Good tenants know other good tenants and this reference can prove to be very valuable.

9. Be Professional

Be sure that all your paperwork look professional and that you have a check list in place when your tenants move in. If tenants see that you are professional, they will know what to expect from you as their landlord.

10. Be Friendly

Always treat your tenants with the respect they deserve. Remember they are the people responsible for possibly one of your biggest investments.