It’s within every landlord’s interest to find a dependable tenant that will look after a rented property in an honest, reliable and transparent manner. The landlord/tenant relationship is a two-way process and there are certain things a landlord should do to help secure and maintain a successful tenancy arrangement.
If you are a landlord seeking such a tenancy, take a look at the following points on how to find the perfect tenant.
Proof of identity
First and foremost, you should ask to see a potential tenant’s proof of identity to show they are who they say they are.
A Right to Rent
While landlords should not discriminate either directly or indirectly on religion, nationality, race, gender or disability, they should check that a tenant can legally rent in the UK.
Right to rent is essentially documentation that shows people are allowed to be in Britain and therefore have a right to rent. Anyone living in a property as a lodger or a sub-letter should also be checked for right to rent.
Employment status and salary checks
A key trait of a perfect tenant is their ability to pay the rent on time, without fail. Thorough employment status and salary checks should therefore always be made before agreeing to a tenancy.
A tenant should show proof of employment and income via payslips. If they are self-employed, they should provide bank statements or tax returns as proof of their work status and income.
Credit checks should also be carried out to evaluate whether a tenant has a reliable and unblemished credit history or has had issues paying bills.
Ask for a reference
Getting references from a tenant is another effective way to give you peace of mind that an individual is reliable and trustworthy. The referee might be an employer, former employer, tutor or anyone of a certain level of responsibility who has known the tenant for a significant period.
A good communicator
As mentioned above, a tenancy is a two-way contract and both you and the tenant should freely communicate with one another is help strike up a good professional relationship, in which you both feel comfortable talking to one another and raising any potential issues and might arise.
With this is mind, when looking for the perfect tenant, indirectly assess their communication skills to evaluate whether you think they are open, honest and easy to deal with.
If you are an existing landlord looking to expand your property portfolio or are thinking about investing to property to let out for the first time, property auctions can be a great way to find and purchase investment property.
Take a look at the property listed for our forthcoming property auction and see if anything grabs your attention.
12pm on the 12th February 2020
London Marriott Hotel Regents Park, 128 King Henry's Rd, London NW3 3ST