Tenant background checks 'essential'
Property professionals
13th April 2010
Owners of private residential property in the UK are advised to always carry out background checks on prospective tenants.
This is according to the National Landlords Association (NLA), which insists that such safeguards are not an optional extra and many renters are failing to carry them out before letting homes.
If a landlord knows nothing about the financial background of tenants, such as bankruptcy, unemployment or insolvency, they are placing themselves at risk and could suffer if they are unable to meet payments.
Commenting, NLA chairman David Salusbury explained: "No landlord can afford to make the costly mistake of not checking on a tenant's ability to pay the rent."
The organisation offers its own Tenant Check service to residential property owners.
Landlords seeking insurance for buildings are also advised of comments made recently by LettingZone managing director Mark Garner that the situation "has never been better" for professional landlords, with low interest rates and good cash flow for those homes purchased some time ago.
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