When you have recently purchased a property using an Estate Agents Gloucester way such as http://www.tgres.co.uk you may consider using this property for a rental income. There are always risks associated with renting your property and one of the biggest ones is problem tenants. Most tenants are respectful, but there are always a few you should avoid at all costs.
Back in 2015, tenant evictions were at their highest ever. While some issues are inevitable, there are steps you can take to avoid problem tenants.
Potential tenants should fill out an application form with details of their current landlord or agent. You should also get employment information from each tenant and phone the employers to make sure they’re genuine. Some potential tenants use the phone number of a friend or family member as their employer. Bank statements are also a good way to ensure tenants are truthful about their income.
If tenants cannot prove their identity, then steer clear of them at all costs. They should show you their driving license or passport. National insurance numbers are also important, as they can help you trace the tenant if they disappear.
Run credit checks
You should get permission from potential tenants to run credit checks and use a reputable company. Credit checks give you an insight into the tenant’s history, as well as highlighting any CCJs recorded against them.
Do a property inventory
If you let the property, then it’s important to keep track of all the household items before they move in. If anything is missing when they move out, you can ask for the item to be replaced or charge the tenant.
Have a tenancy agreement
Start with a short-term tenancy of six months to avoid long-term problems with new tenants. They should sign the lease before moving in, because if you need to remove them from the property, a tenancy agreement is essential. Without an agreement, the law is on your tenant’s side.
Do property inspections
You don’t know what’s happening in your property unless you carry out regular inspections. Checking the property will allow you to see how the tenants are treating the house and if there are any damages.
Build a relationship
By getting to know your tenant and building a good relationship, they’ll be more cooperative and will treat the property with respect.