When you become a property investor, there are a lot of different things to consider in order to make your portfolio as profitable as possible. But one of the most important things to ensure you have locked down is the right tenants.
After all, ensuring you have trustworthy, reliable people living in your property in Carlton will help make your time as a landlord much easier and less stressful in the long run.
The first thing to take care of is ensuring you have a thorough interview process. Asking the right questions and following through on reference checking is your first line of defence when it comes to weeding out inappropriate tenants.
Ask them about their last living situation and why they're leaving. This gives you a chance to verify this with their current landlord, giving you some insight as to whether they were forthcoming with the truth.
Furthermore, ensuring your tenants are in steady employment is another crucial factor. If their economic situation fluctuates, you could find yourself out of pocket if they're unable to make their regular rent payments.
These are just some of the things to keep in mind when it comes to finding the most suitable tenants for your property portfolio.