Reducing The Risk Of Letting To Problem Tenants

Tuesday, May 12, 2015

Reduce The Risk Of Letting To Problem Tenants

Reduce The Risk Of Letting To Problem Tenants

Tenant Referencing Helps Landlords Avoid Problem Tenants

All landlords want the best possible tenants in their rental properties, but how do landlords and letting agents make sure that they are not allowing problem tenant’s into rental properties?

All tenant applicants should be comprehensively tenant referenced as soon as they apply for a tenancy in private rental sector (PRS) properties.

Tenant referencing conducted by Legal 4 Landlords pioneering tenant referencing system, checks the credit, employment and rental history of all tenant applicants as well as conducting other detailed background checks and can provide landlords and letting agents with an instant permanent decision as to the suitability of their tenant applicants.

Legal 4 Landlords advanced tenant referencing system is unrivalled in the efficiency, accuracy and reliability of tenant data, allowing letting agents and landlords to track and manage all their tenant reference reports online with just a few clicks.

  • Most advanced tenant referencing system available to landlords and letting agents in the UK
  • Fast and easy to use
  • 6 different levels of tenant referencing checks available
  • Ability to upgrade instant references to full tenant references without additional credit searches
  • Letting agents can send and manage their own tenant reference links

Tenant referencing will help to verify the tenant applicant’s ID, analyse their financial situation and affordability, verify their bank account, and provide landlords and letting agents with an insight in to the tenant applicant’s lifestyle.

When combined, such detailed background checks can help landlords and letting agents avoid letting properties to problem tenants and 90% of Legal 4 Landlords full tenant references are completed with 48 hours.

However, tenant referencing is just the start of the process. Landlords and letting agents should provide tenants with a written tenancy agreement detailing what is expected and required of the tenant, landlord and their managing agents during the rental period of a property and this should be signed as agreed by both tenant and landlord on the start date of the tenancy.

Landlords should keep detailed records of all actions to do with the tenant and the rental property during the period of the rental and should arrange to inspect the rental property on a periodic basis. It is often a good idea for the landlord to speak with the tenant’s neighbours too, ensuring that their tenant isn’t causing a nuisance or behaving anti socially.

Most good letting agents should visit the tenant in their rented properties periodically, usually every 3 – 6 months, in order to assess the tenant’s lifestyle, condition of the rental property and deal with any repair and maintenance issues before they become serious problems.

Building a good working relationship with tenants is one of the key factors to the success and longevity of a tenancy in the UK’s private rental sector, as the tenant will be more likely to contact their landlord immediately about necessary repairs if they feel that they can approach them without fear of being moaned at, and it’s important for landlords to react quickly to any issue raised by their tenants.

Rachel Clarke of Geo Property Lettings, based in Manchester said: We use the tenant referencing system provided by Legal 4 Landlords to background check applicants as the reports generated are detailed, accurate and concise, allowing us to avoid letting properties to problem tenants, thus ensuring that we are providing our landlord clients with the best and most suitable applicants for their rental properties, it’s a vital service that we cannot do without.”

In fact, a recent survey conducted by the UK’s leading suppliers of specialist products and services to the lettings industry found that 97% of landlords, letting agents and property managers who use Legal 4 Landlords for tenant referencing would recommend the service to others.

Find out more about Legal 4 Landlords market leading tenant referencing system by clicking here!

This was written by Mike Clarke. Posted on at 11:30 am. Filed under Referencing. Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink. Follow comments here with the RSS feed. Both comments and trackbacks are currently closed.