Errant Tenant Issues?
It’s surprising that in today’s economic climate, landlords are still agreeing tenancies without the necessary and proper tenant referencing checks.
Landlords keen to let a property, especially one that has been vacant for some time forget and forego the preventative measures in eagerness to install a tenant to find that somewhere down the line, costs for damage and loss of rent have been somewhat of a false economy.
Last month a Merseyside landlord was left with £1,200 rent arrears and bills for council tax, water rates, electricity and gas. It was later discovered that the tenant had doctored his tenancy agreement, stating that all charges and utilities were inclusive of the rent and the tenant even had the cheek to forge the landlord’s signature. Obviously the landlord is appealing against the debt, but that is little consolation. Did he carry out tenant reference checks against the tenant? No. Did he ask for a deposit? No. In a bid to let a less than desirable property, he now faces considerable cost.
Legal 4 Landlords cannot stress enough the need to apply preventative measures when letting property. It would be understandable for any reader to consider anything written here as a plug for services being offered, but for the bigger picture the company was formed 2 years ago by landlords who understood the pitfalls of the private rented sector and who have since implemented schemes and systems for landlords, continuously seeking improvement for landlords. A company run by landlords for landlords.
Even the most experienced landlord can be fooled by appearances and there are many instances similar to the one mentioned above. So what can a landlord do to protect against rent arrears and damage?
- Thorough Tenant Referencing.
- Insurance To Ensure Payment of Rent.
- Locked in Standing Order by Tenant.
- Damage Insurance
- No Deposit Guarantee Scheme.
With the economic barriers landlords are facing in the current financial climate, can you afford not to?
By
Madalena Penny
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