How to avoid bad tenants?
One of the biggest headaches for Landlords is having a bad tenant. This is not only about tenants behaving badly, but it can also be tenants with difficult financial circumstances falling into arrears. In any case, eviction of tenants is never a nice process.
It is vital to remember all tenants have statutory rights
A tenant’s statutory rights don’t magically disappear even if they have breached the terms of the tenancy. If you’re not careful how you proceed then your tenant may have grounds to counterclaim, which could result in your tenant gaining the rights to remain in your property and being entitled to financial compensation.
It can take up to several months to evict a bad tenant
The proper eviction procedure is a costly and lengthy process. This can take anywhere from 14 days to several months but can take even longer if the proper processes aren’t followed.
Professional referencing can help avoid the perils of bad tenants
In our 25 years of experience we’ve learnt to spot the signs of unsuitable tenants, but we also go much further than that. Here at Parks Lettings, we have our own in-house professional referencing department, where we thoroughly screen all prospective applicants.
Our referencing process
- Pre-qualification prior to viewing – ensuring the applicants qualify before showing them your property
- Identity checks – carrying out the required Right to Rent checks in line with the Home Office regulations
- Financial check – performing credit checks to highlight any bad credit history such as CCJ’s
- Checking employment status – verifying the tenant’s income by contacting their employer
- Contacting previous Landlords – finding out previous rental history and if they’ve had rent arrears
- Obtaining character references – ensuring they are who they say they are
- Checking tenant Guarantors – performing credit checks, land registry checks and financial referencing
With careful screening we can radically reduce the chances of having disruptive tenants that might damage the property or fail to pay rent. We believe the more thorough the referencing, the better.
Parks offer a comprehensive referencing service
Whilst moving a tenant in quickly to avoid costly void periods may be an attractive option – in the long run this may not be a good idea. In our experience high quality tenants will provide you with a much higher yield long term and considerably less stress.
If you would like advice on renting out a property then please contact Parks on 01273 202089.
