Successful Tenant Referencing Tips
Tips for successful Tenant Referencing
Should you be an accidental landlord or consider yourself a seasoned property professional. The tenant referencing team at LetHQ believe that by following a few simple steps when referencing and credit checking tenants will help benefit you not only at the referencing stage but also during the tenancy.
A more accurately vetted tenant will lead to a smoother and less problematic tenancy for both you the landlord and your tenants.
Get the Information
It is surprising how many landlords grant a tenancy to individuals they have only just met not only without carrying out tenant background checks with little more than a few basic details and a mobile phone number. Make sure they are who they say they are.
Ask open questions. Everyone is entitled to privacy however do not be afraid to ask about why they are looking to rent and who will be living in the property, are they smokers and do they have any pets etc. You need to ensure that all tenants living in the property have not only been successfully background checked but have all signed the tenancy agreement.
Communication is King
The relationship between you are your tenants is paramount and a good and clear communication channel between both is essential. Ensure that when a prospective tenant provides their details upon their reference application that they provide you with multiple contact numbers and email addresses not just for themselves butfor any referees they provide.
Likewise, your tenants will need to be able to easily contact you or your managing agent should they wish with any questions or issues.
Next of Kin
Requesting details of a next of kin may not be mandatory and in some situations tenants may not wish to provide such information.However,additional tenant data such as this can be very useful especially if the tenant becomes hard to get in contact with or in an emergency situation.
It is very tempting to agree to let your property and credit check the first tenants to come along. You are keen to get the property occupied and may have a buy to let mortgage or even service charge fees and are counting on rental payments to keep things covered.
You won’t want to lose a potentially great tenant but in some situations, there may be other interested parties. It may be worth taking a little extra time to allow all to view your property before deciding who you agree to rent to before you commence carrying out any tenant background checks.