Landlords can limit their risk of damage to their properties by carrying out full references as well as taking out landlords insurance.
Carrying out a thorough reference needn’t take a long time. The vast majority (90 per cent) of tenant references carried out by Legal 4 Landlords are completed within 48 hours. We even have a service that carries them out in four hours if you need to really move quickly.
The growth in demand for rental properties – over 19,700 new tenants registered for rental properties in August, means landlords are looking at ways to cover themselves should their tenants experience financial issues and fail to pay the rent.
With a record number of people renting it’s inevitable that there are more incidences of tenants being unable to pay their rent, more with credit issues. Added to this, unemployment is on the rise. Landlords need to make sure they have all the facts before deciding whether a tenant is suitable to live in their property.
At Legal 4 Landlords we’ve seen a huge rise in the number of tenant checks we’re carrying out on behalf of landlords – the message is clear – don’t take chances on potentially unsuitable tenants. Don’t cut corners and get a full reference on every potential tenant.