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The Pitfalls Of Not Tenant Referencing


Thursday, January 23, 2014

 

Fast, Accurate And Efficient Tenant Referencing by Legal 4 Landlords

Fast, Accurate And Efficient Tenant Referencing by Legal 4 Landlords

Landlords Could Get More Than They Bargained For
If They Don’t Conduct Proper Tenant Referencing

A landlord from Wales has discovered, to her cost, that tenant referencing and background checks are vital for all prospective tenant applicants.

The predicted healthy outlook for the UK’s private rented sector (PRS), does not mean all landlords can make money. Tax treatment of Britain’s 1.2million landlords is also expected to tighten. Capital gains tax reliefs were trimmed in the Chancellor’s Autumn Statement, and some expect further, similar measures to be introduced in 2014

Problem tenants can often cause difficulties for landlords, such as those highlighted by the Telegraph, who reported on the plight of one unlucky UK landlord.

Vicky Moller Discovered The Pitfalls Of Not Tenant Referencing The Hard Way

Vicky Moller Discovered The Pitfalls Of Not Tenant Referencing The Hard Way

When Vicky Moller agreed to become the landlord of a property purchased with other family members, she hoped it would be smooth sailing.

The property was let out fairly quickly but no tenant referencing or background checks were done before accepting the tenancy and when the tenant said he was a builder, Ms Moller took him at his word.

In the end, the tenant only paid one month’s rent and caused a great deal of damage to the six-bedroom rental property, including removing doors and shelves, and even pretended to own the land, offering to sell part of the garden to a neighbouring property owner, before Ms Moller served an eviction notice on him.Ms Moller would class herself as an entrepreneur rather than an experienced landlord as she runs a number of businesses and sustainability-related projects in Carmarthen, Wales. Following the eviction, Ms Moller said: “It was a mess. The tenant said he was a builder and I took him on trust. I was delighted when he left.”

The insurance company covered some of the damage done to the rental property but Ms Moller and her family lost several months’ rent.

Tenant referencing and comprehensive background checks are essential for all UK PRS landlords who want to avoid similar nightmares, even if landlords appoint a letting agent to act on their behalf.

Legal 4 Landlords are the UK market leaders when it comes to comprehensive tenant referencing as their pioneering tenant referencing system is unrivalled in efficiency, accuracy and reliability.

Legal 4 Landlords advanced tenant referencing system is more efficient and more reliable than any other on the market. Letting agents and landlords can track and manage all their tenant reference reports online within a few clicks.

  • The most advanced tenant referencing system on the market
  • Faster and easier to use than ever before
  • Choose from 6 different tenant reference checks available
  • Upgrade instant references to full tenant references without additional credit searches
  • Letting agents can send and manage their own tenant reference links
  • Choose the right tenants to protect the landlords income!

Don’t become the victim of a bad tenant, make sure all tenant applicants are thoroughly checked before handing over the keys to rental property. There may be an initial cost for the referencing service, but selecting the right tenant in the first place is much cheaper than having to evict a bad tenant.


This was written by Mike Clarke. Posted on at 11:45 am. Filed under Referencing. Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink. Follow comments here with the RSS feed. Both comments and trackbacks are currently closed.