RSS Feed

Ask An Expert: Find The Best Tenant

Friday, March 30, 2012

Shirley asks the APIA Expert Panel

How do I find the best tenant for my property?

The APIA Elves Answer

Fret not Shirley, you are not alone.  In fact, many of our members are just like you, they are full time professional people who happen to invest in properties on the side.  Self management is a big decision and can potentially eat into a lot of your free time. That is why some people choose to employ property managers.  This is not meant to sound defeatist, it is something you have to be prepared for before you get into it. 
I will say this, self management is possible and can save you a lot of money in property management fees.  The vital first step, and I can't stress this enough, is to make sure you have a good and manageable tenant.  Tenant selection is a big determinant is how easy your life is going to be as a self managing landlord.  Sloppy selection will cost you big time down the track. 
Don't get me wrong, being a landlord is not about us versus them.  Tenants are not bad.  Unfortunately there are some tenants who will value other expenses over payment rent on time and who probably do not have the same standard of house keeping as you would have liked.  You want to rent your property out to someone you can trust and work with.
You know the game Where's Wally?  Tenant selection is a bit like that.  From afar, practically all applicants look the same (on paper that is).  You really have to get into the nitty-gritties and dig deep in order to find your ideal tenant.  Credit and background checks go without saying.  Here is a more in-depth step by step guide of good tenant selection process.  
Good luck!

The APIA Property Expert Panel is ready to answer your property questions.  Write us an email to [email protected] and we will get you an answer pronto!

Recent Posts


asbestos banking Must know fixed-term tenancy income sale and purchase anz tax rent arrears skill shortage holiday house market Standards New Zealand Kris Pedersen Mortgages and Insurance debt enforcement ird ring-fencing retaliatory notice parry v inglis buying insurance buyer's agent finance ventilation renovation RTAA 2019 Market report tenant tenancy tribunal beginner investor initio travel bubble wins shortland chartered accountants trademe building warm up new zealand interest limitation privacy rental wof winz negotiation bond daikin housing affordability re agent heater interest rates meth contamination reserve bank clnz Keith Hay Homes return damage cgt DTI property short-term rental interest only Tribunal case study extractor fan auckland HHGA wealth creation property value HHS Investor story commerce commission watercare LIM relationship property cycle anti-social behaviour tenancy issues inflation election2020 TCIT house prices election 2017 investor capital gain covid-19 auckland council tenancy services education bond form meth rtaa2020 rta legal television Property (Relationships) Act cat Question and answer Zodiak Management will rent increase Gluckman CoreLogic p lab landlord sublease first home buying shower dome legal cost Level 4 investment strategy equity Jeff Bezos Guest blog recycling equity minor dwelling boarding house partners interest deductibility mindset letting fee brightline buying rules data security twg report off the plan nzpif mortgage Sponsored post apia unitary plan CCC principal and interest structure trust Holler debt to income property maintenance management positive cash flow smoke alarm Editor's Choice termination lvr quiet enjoyment gluckman report development property management financial advisers act khh letting housing package insulation kiwibuild Must knows rent opes partners heating inspection Q&A early termination personal growth rental market RBNZ speculator Case study barfoot and thompson lockdown airbnb short term rental subdivision bad tenant robert kiyosaki heat pump rent control water bill housing bubble warren buffett ocr yield scotney williams worksafe market rent maintenance sale and purchas productivity How to cash-flow Investment tip advice bankruptcy rta reform property apprentice government trespass Landlording ask an expert HSWA business


Introducing Our Partners
Principal Sponsor - Kris Pedersen Mortgages & Insurance logo Gold Sponsor - Barfoot & Thompson logo Gold Sponsor - CoreLogic logo Property Apprentice logo The Insulation Warehouse logo The Renovation Team logo The New Zealand Property Investors' Federation logo