I often discuss the four core fundamentals of property management.

Yes, they are all essential keys to running a successful rental property.  However, tenant selection is number one because everything else stems from this.

This short video discusses why tenant selection is the key to a successful rental.

TRANSCRIPT

In previous blogs, I’ve discussed four key fundamentals of property management.

And indeed, they’re all important, but tenant selection is a vital aspect of property management.

You absolutely need sound systems and processes to do your due diligence when selecting tenants for your property.

You get it wrong; it’s not good.

These days, ending a tenancy is not easy, so having great systems and processes in place is critical.

If your selection process is sound, you will eliminate ongoing tenant problems, i.e.  

🟢 Late rent payments or ongoing rent arrears.

🟢 Damage to your property.

 Untidy tenants who deteriorate your property over time.

🟢 Noisy tenants who disturb neighbours with loud music.

🟢Not to mention illicit drugs and all sorts of other issues.

Getting this right is like setting the foundations down properly when building a house. Everything else stems from this.

Mastering the craft of choosing ideal tenants and maintaining consistent accuracy is a skill honed only over time with training and experience.

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1 Comment

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