Spoilt for choice with good tenants – which should I choose?

by Mark Alexander

19:15 PM, 30th November 2012
About 8 years ago

Spoilt for choice with good tenants – which should I choose?

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Spoilt for choice with good tenants – which should I choose?

I find myself spoilt for choice with good tenants today 🙂

My brother has been over to Wolverhampton to sort out a quick refurb on a property which we need to turn around quickly between tenancies.  Four of my family managed to redecorate the whole house and fix a few things within a day. Good job lads if you’re reading this!

It’s been a while since I did any block viewings on a property myself but as Adam (my brother) was in the Midlands I chose to do the viewings on another property we’ve got coming up in Norwich. The vacating tenants are as good as gold and gave me permission to do the viewings even though they will not be moved out for another week.

The first guy would have made an excellent tenant, my typical “grey market” tenant of choice who turned up in a nice new Range Rover. I think he wanted something a bit more rural though so I doubt I’ll hear back from him.

The second tenants were a really nice family, early 30’s I’m guessing. He’s a doctor at the hospital which is about a mile away, they’ve got two lovely little girls, one of school age, the other a toddler and his wife is pregnant with number three. They loved the property and want to take it.

The third was a couple, no children, again in their 30’s. He works as a researcher at the University (also a mile away) and she works in IT for a big four international accountancy firm. They also loved the place and want to take it.

The dilemma – subject to full referencing of course

Do I go for the family? They are far more likely to stay there for a long time. I heard her say to hubbie “we will never need to move again”. Once the girls are settled in school I think this could well be the case. However, the property will get more wear and care with children.

The second couple earn a lot more and have no children. However, how long will they stay?

I wish I had two identical houses as I would like to take them both – whichever choice I make I’m sure they will be good tenants. I have a good gut instinct about that now. Both couples asked all the questions I like to hear. I also told them both about the Good Landlords Campaign and the Deed of Assurance. They were very impressed with that.

The existing tenant vacates next weekend and both of my “good tenant prospects” want to move in after Xmas. That means I’ may have to suffer a one month void – YUK!

I think what I’m going to do is offer it to whichever agrees to take it first. My hope is that they love the property so much that one of them will pay the extra months rent to get it.

What would you do?

The best bit about this story is that if neither takes it a month early I have others who want to see the property and it did not cost me a penny to find these tenants. If you would like to know how I managed to achieve that just complete the form below. I will put you in touch with the Online Letting Agent who found these tenants for me by advertising on all the major property portals and will not be charging me for the tenant find (or you if you use the service). Additionally I don’t pay for referencing and I’m not tied into long term management either. If this sounds too good to be true I can assure you it isn’t. I wrote this blog recently which explains more.

Online Letting Agents Enquiry



Comments

Richard Greenland Richard

17:26 PM, 1st December 2012
About 8 years ago

I'd take the family as they are most likely to stay the longest. Additional superficial damage is no issue if they are staying long-term. Perhaps the void is an opportunity to do a bit of preventive maintenance?

Jerry Jones

19:28 PM, 1st December 2012
About 8 years ago

I'd second that, Rich.

Heather Moriarty-Phillips

17:40 PM, 3rd December 2012
About 8 years ago

I would make a few more enquiries about their jobs first. The doctor may not be on the permanent staff or junior doctor who might move on soon or with an expanding family may wish to purchase their own property if finances allow.The childless couple may start a family rather than purchase just yet so might prove to be the better bet. I know you cannot pin people down on their future plans but I would be just a bit more nosey on this occasion!

Recardo Knights

14:09 PM, 4th December 2012
About 8 years ago

I would also go with the family as they are less likley to move on in a hurry.
You also say your existing tenant gave permission to do viewings befor they moved. Isn't it writen in the tenancy agreement tenants have to allow viewings befor they move, as this helps avoid voids?

Mark Alexander

17:12 PM, 4th December 2012
About 8 years ago

Hi Recardo, many landlords, including myself, do use that condition is their tenancy agreements. However, it is unenforceable in law.

Puzzler

13:09 PM, 6th December 2012
About 8 years ago

Seen your update: like the teenager who cannot decide between two dates, you ended up with neither:)

Mark Alexander

16:21 PM, 6th December 2012
About 8 years ago

HAHAHA - as you will have gathered from the update it wasn't really like that. More a case of me counting my chickens before they hatched as opposed to prevaricating and losing two deals.


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