When you have a potential tenant interested in renting your property, conducting thorough checks and collecting references are possibly the most important steps you will take.
In 2013, a third of UK landlords faced problems with rent arrears, putting problems with bad tenants at the highest rate since 2009.
If you want to minimise your chance of having a bad letting experience, we suggest you follow a set checking procedure for each and every new tenant, which you don’t deviate from.
It should include:
A detailed application form
You should always ask for basic details such as the tenant’s name, address, contact number and National Insurance Number. In addition to this, there are other relevant details you should consider collecting.
You can find out more about the suitability of a potential tenant by asking for their current landlords name, address & contact number, employment details, and bank statements from the last few months. Personal questions such as whether they smoke, have pets and why they are looking for another property can also help you build a better idea of whether someone is a suitable tenant or not.
Referencing is an essential and necessary part of letting a property. References from another landlord and a tenant’s employer should be taken and followed up. Ask the tenants previous landlord whether they would be happy to let another property to them and if not, why.
Things to look out for
Pay particular attention to the tenant’s income and their employer reference as their salary will essentially be paying the rent!
It’s not unusual for rental properties to be used for illegal activity so spend a good amount of time with potential tenants during the application process. By striking up a good relationship with them you can build a picture of what kind of person they are.
While there’s no guarantee that a tenant will be perfect, conducting these thorough checks will ensure that you protect yourself as much as possible.
If a tenant does turn bad, Peter Robinson & Co. are here to advise you. We can resolve landlord-tenant disputes quickly and efficiently, whilst offering advice regarding the recovery of overdue rental payments, day-to-day management issues and disputes with your tenant.
With over 30 years dealing with professional landlords, you can trust the friendly, qualified staff at Peter Robinson & Co. to provide a professional conveyancing service tailored to your needs.