References for landlords

One of the most critical tasks you will need to do when considering to let to a new tenant is to perform reference checks. Most tenants pay on time, look after your property and pay attention to the rules stipulated in your short term tenancy agreement. However getting one bad tenant could be worst than not having one at all. The financial pressures that motivate you to fill a vacant tenancy will be insignificant compared to a bad tenant

The screening process should be put in place to remove any potential tenants that could cause a future headache. Credit and reference checks should be carried out with no finalising of any contracts until you are satisfied with your checks.

Credit checks

There are many credit check companies available for landlords to use, the price of the checks and the level of the assessment vary between companies. It is worth always paying for a full credit check which can save you a lot in the future.

The speed at which these checks can be carried out has improved vastly now that the internet can be utilised. Some will provide you with instant results whilst others will post the results within 48 hours. Whatever method you chose bear in mind its the quality of the tenant checks that is important.

References

There are many references you can ask for when renting out your property. The key is to ask for references that will be written either by an impartial party or someone in a position of responsibility. Accepting references from family or friends should not form any part of a well thought out reference check. You should also consider obtaining references that span at least five years to get a thorough picture of your tenant