There are many aspects to successful property letting and selecting the right tenant is one of the most important. Although It has always been good practice to reference check prospective tenants, in the current climate of increased job uncertainly, it is now more important than ever for landlords to avoid choosing poor quality tenants.
The most basic type of report covers simply an ID and credit check to screen for previous bankruptcies, Individual Voluntary Arrangements (IVAs) or County Court Judgements (CCJs). A more comprehensive tenant reference report goes much further. References are obtained from a current landlord to check for rent arrears or damage to the property and employers are contacted to enquire about future job security and salary. This more detailed information will help a landlord achieve a much more informed opinion about the suitability of a prospective tenant. The more a landlord knows about a tenant, the greater their peace of mind.
Reputable letting agents, such as the five-star rated Sophic Property in Reading (www.sophicproperty.co.uk) can be of enormous value in guiding you through the whole process of tenant referencing and selection. Not only can they obtain all the necessary checks, their experience of dealing with tenants makes them good judges of character so they might pick up on things a report won’t reveal.
The latest extension of the government’s ban on evictions of those in rental property who have been affected by coronavirus means the consequences of choosing the wrong tenant are potentially more serious than ever. The current ban on evictions expires on September 20 but the statutory six-month notice period means that no evictions can take place before the end of March. Even after that date, the backlog of court cases means that it will take longer than ever for landlords to regain possession of their property.
Choosing your tenant carefully by obtaining a full tenant referencing report should ensure you have a harmonious and stress-free relationship with your tenant who will pay their rent and care for your property. Failing to take this simple precaution could be a very costly mistake.