If you are a private landlord dealing direct with your tenants you need to establish good ones from bad, the ones that will look after your property and pay the rent on time from those who will cause you stress and leave you with unpaid rent or other debts.
That’s easy to say, of course, but how do you actually go about sorting the good from the bad.
You need to remember that you are entering into a business relationship and put any personal feelings to one side. It is easy to fall for a sob story but you must keep a cool head and be rational about things.
At the outset the power is all with you, the landlord. Make sure you are vigilant and carry out credit checks and obtain references. You might also want to consider asking for a guarantor to cover the rent, someone in full employment and who is also a homeowner.
After a tenancy had been granted, the power shifts to the tenant. If they prove to be unreliable you could be in for a hard time, not to mention an expensive one!
One other thing to remember is not to let preconceptions or stereotyping colour your judgement. There are plenty of trustworthy tenants claiming benefits whilst a doctor or teacher is not guaranteed to be 100% reliable.
Finally make sure you use an Assured Shorthold Tenancy Agreement from a solicitor or recognised landlord group such as the National Landlord’s Association.
Of course, the simplest and most reliable way of getting and keeping good tenants is to use an established Letting Agent. If you are looking to rent out property in Gloucestershire, Herefordshire or Worcestershire, why not give me a call on 01684 292154 to discuss how I can help.