My Potential Tenant's Profile Is Not So Ideal...

"But they can start their lease soon after the current tenant leaves. Should I accept their offer?"

From a property investor's point of view, yes, as landlords should aim to reduce the vacant period of their investment homes as much as possible. A vacant rental property will mean no rental income for the landlord, which can be a significant financial burden, especially if you have a mortgage loan to repay.

There are several things landlords can do to reduce the vacant period of their investment homes. One of the most effective is to ensure that the property is in good condition and is marketed effectively to potential tenants. This includes ensuring that the property is clean, well-maintained, and has attractive features that will appeal to potential tenants.

Back to the point on why you should consider taking in a profile which you may consider as "not so ideal"- we can't always judge a book by its cover. We have came across typical "good profile" tenants who are bad with home maintenance and vice versa. It's hard to determine if a tenant will take care of your investment property at first impression. However, there are a 3 things you can do to protect your interest as a landlord:

1) Check your bank accounts to ensure timely payment of rental.

2) Be detailed in the tenancy agreement on how the property should be returned (i.e. include clauses for cleaning, curtain laundry and air-con servicing) and what are the penalties if it is not done accordingly.

3) Prepare your property such that it is in a well-maintained condition prior to handover to new tenant. Take photos around the property to create a condition report so that you have a record of the property's state before the start of lease. This will allow you to do comparisons when you take back the property a few years later and claim for repair/damage (that are not due to wear and tear).

Regardless of tenant profile, an investor's goal is to maximise returns of investment while minimising its cost. Since we can't control the actions of our tenants, we can do our part to reduce potential expenditure!