How to Get Good Tenants - Tips for Landlords

You may have seen the attached photos circulating on various news sites. They're from www.buymydump.com, an American website set up by a Houston bloke who's apparently decided to simply sell his apartment well below market price, rather than clean the over-whelming mess left by a runaway tenant.

Stories like this (which admittedly are the extreme) can make renting out a property a daunting prospect for some. But there are a few tips you can follow to minimise the chance of your house/flat turning up on "A Current Affair" or "Today Tonight" under a "Worst Tenant Ever?" story.

*Insurance! Insurance, insurance, insurance. Why? Why NOT is the real question. The right landlord insurance plan can cover you for any injuries to renters and/or guests, damage to the property for everything from burglary, vandalism, fire, extreme weather, and even cover rent payments in the event of a disappearing tenant. Ask your mortgage lender if they have landlord policies - you may be able to negotiate a discount.

*Choose a good property management/rental agency. Ask friends or colleagues who own rental properties about their experiences; but also ask friends who rent about their experiences. You want someone who'll do the best by both parties. Check their rates; if you don't end up getting the service you require, change.

*Screen your tenants. A good property manager is worth their weight in gold here, but you should double-check rental histories, payment records, and references. Make sure your leases are all legal and above board, so you'll be in the right if a tenant violates the terms.

*Do your bit. You don't have to supply flat-screen TVs and a buff Swedish masseuse, but make sure the place is well-maintained. If you have pride in your place, chances are your tenants will too. Carry out repair work promptly. Provide a list of preferred traders (cleaners, plumbers, electricians etc) you're happy for tenants to contact in an emergency. Set aside a portion of your rental income for an "In Case Of Emergency Break Glass" fund to cover unexpected problems.

*Respect and privacy. Give plenty of notice before you conduct inspections; understand not all tenants may have the same exacting standards of cleanliness you do. Demand the place is tidy and hygenic, but don't punish a stack of books on the floor instead of the shelf. If you have disputes, try to resolve them calmly through your property manager, or an independent mediator. The small claims court is always an option for reclaiming unpaid rent or other costs, but exhaust your other options first.

*Make a clear rule about pets. The RSPCA has expressed concerns about declining pet ownership - much of which can be credited to more high density living. Many apartment buildings have a blanket ban on pets, and it's fine to implement a strict policy. However, if your property has some land attached, give a second thought to allowing pets. Most pet owners are responsible people, who'll be grateful to secure a property where they can let Rex or Muggles run about. Of course, decide what types and breeds of animals are appropriate for your particular place, and advertise as such.

*Did I mention insurance?

Calling landlords and tenants! What else can both parties do to ensure smooth relations?