From listings to leases: finding tenants who add real value

You've purchased a buy-to-let investment property, and now it's time to make your investment work for you! The most important step in renting out your property is finding a tenant who will reliably pay you on time and look after your property as if it were their own. But how do you go about finding such a tenant? Jawitz Properties has put together this step-by-step guide to help you.

Step 1: List your property on well-respected portals and real estate websites

While Facebook Marketplace and other social networks can provide inexpensive (or even free) ways to promote your property to potential tenants, there are numerous advantages to using professional portals. For starters, professional portals allow tenants to search by location, budget, property type and features, which means you're more likely to find people who are serious about renting your property.

In addition, a real estate brand's website, such as jawitz.co.za, attract high-intent renters who trust the brand's credibility and often return regularly to browse listings. Your property also benefits from professional presentation, enhanced listing tools, and the backing of an experienced team. Ultimately, listing on these channels increases your chances of securing a reliable, long-term tenant.

It is all about making your rental property listing more visible to the right audience online.

Step 2: Chat to prospective tenants and get a feel of what kind of person they are

Don't underestimate the power of a simple conversation. Speaking directly with a prospective tenant, whether in person or via video call, can reveal valuable insights that no document can.

Listen carefully to how they communicate: Are they respectful, clear, and responsive? Ask why they're moving, what they're looking for in a rental, and how long they plan to stay. These answers can help you gauge whether they're likely to treat your property with care and follow the rules of your lease agreement. Pay attention to red flags, like vague answers or unrealistic expectations.

Step 3: Request documentation

Any prospective tenant should provide you with proof of their last three months' salary as well as bank statements from the last three months. Having both sets of documents gives you two strategic advantages. Firstly, you can check whether the salary figure on their payslip matches the amount that lands in their bank account. If not, be aware that your prospective tenant is likely being dishonest with you.

Secondly, by viewing their bank statements, you'll get an immediate sense of how indebted they are and whether they will be able to afford rent over and above their other expenses. The rule of thumb is that the rental amount that a person is required to pay should never be more than a third of their salary. As part of the document-checking phase, you should also run a credit check on your prospective client, and you'll need their written consent to do this.                                  

Step 4: Contact previous landlords and ask questions

Details of past landlords are also important to get from your prospective tenant. A simple reference letter isn't enough, because this would be easy enough to forge. Take the time to phone the referees and use your discretion to ascertain whether you're actually talking to a former landlord or just to a friend. Ask whether or not they regularly paid their rent on time and how they took care of the property. A great way to gauge your potential tenant's character is to ask their former landlord whether or not they would rent a property to that individual again.

Be aware of potential rental scams

While most tenant interactions are genuine, it's still important to stay alert for signs of rental fraud. In some cases, individuals may pose as trustworthy tenants but fail to meet their payment obligations or attempt to sublet the property without permission. These situations can lead to legal complications and financial loss if not identified early.

Protect yourself by following the recommended screening steps: request proper documentation, verify references, and conduct thorough credit and background checks. When in doubt, partnering with a reputable rental agency like Jawitz Properties can give you added peace of mind and ensure your investment is protected.

Why working with a property professional just makes sense

Many landlords quickly discover that partnering with a professional property practitioner isn't just convenient - it's a smart investment decision. From securing reliable tenants to managing the day-to-day engagements, a trusted real estate partner can help by minimising your stress whilst ensuring a good return on investment. There's a lot of administration involved in being a hands-on landlord, from marketing the property and finding a tenant to making sure that rent is paid every month and that any repairs required are taken care of timeously. There are also entry and exit inspections to prioritise, as well as ensuring that you're following the minutiae of the Rental Housing Act and other related legislation.

The Jawitz Properties rental services team is on hand to help, whether you'd like help simply with finding a tenant or with managing the entire property rental process. Get in touch for more information about how we can help you maximise the return on your investment property.