Quality referencing is the first line of defence against letting your property to an unsuitable tenant. It is essential that Landlords are aware of the importance of carefully carrying out referencing.
To reap the rewards of being a successful Landlord you must realise the value of following quality tenant reference guidelines, a procedure which protects tenants but more importantly you as a Landlord.
Value of Referencing
Paying on Time
A basic requirement for any Landlord yet it is the most common complaint! You should not have to chase tenants each month for late or non-payments. It is essential that during the reference process you obtain the potential tenants previous Landlords contact details and correspond with them to ensure the potential tenant was prompt with payments. Any late or non-payments must be taken extremely seriously.
Another very common complaint among Landlords is behaviour of their tenants. This could be dependant on the property you have for let. In a house share for example, it is important that the potential tenant is a match for the property as they will be sharing with others. If problems occur and one tenant isn’t a match, you will need to resolve the situation which could become complex and time consuming.
Another point to consider are the neighbouring properties, noise, inconsiderate parking or an unkept garden for example, can all lead to complaints directly to the Landlord. Good quality referencing can eradicate situations like this from arsing.
Care of the Property
Accidents can occur; however, some tenants are more carful than others. Damage to the property or furnishings can not only be a nuisance to deal with but also can be very costly if it is a regular occurrence. It is important to ask the previous Landlord during the reference procedure if the potential tenant looked after the property and its contents during their occupancy.
If at any point you do not feel comfortable and are suspicious of a potential tenant, you should simply decline their request to occupy your property. It will save you time, stress and money while protecting your investment from a potentially bad tenant. Sometimes you just get that gut feel! However, the vast majority of tenants we reference pass. It’s important to look at the overall picture and take into consideration all documentation. Do you need help referencing? Talk to us today to see how we can help.
Thank you for reading and next week we’ll discuss another exciting topic! If you have any questions or need to chat to us, please feel free to contact us. In the meantime, why not visit our blog. Or sign up to our Mailing List to receive automatic updates of new blog posts and exciting competitions.