Pre-tenancy screening 'a wise option' for landlords
14th May 2012
It is a wise decision for landlords to screen potential tenants before they allow them to occupy their property, it has been advised.
Tom Entwistle, from the advice organisation Landlord Zone, said that buy to let property owners need to do all they can to protect themselves against non-payment, late or partial payment of rent.
He said that the most important aspect of renting out a property to tenants is doing pre-tenancy screening, which includes credit checks and referencing.
"Even then you can still have problems, so where landlords rely on the rental income to pay a mortgage they should consider rent guarantee and legal protection cover," the expert explained.
"Not all landlords do these things, but it is becoming much more of a common practice with experienced landlords," Mr Entwistle stated.
Since the inception of the assured short-hold tenancy, the laws are "pretty well evenly balanced" between landlord and tenant, he added, which helps to protect both parties.
The expert also pointed to recent research indicating that the residential buy to let market will continue to grow, with an estimated £200 billion of investment in the private rental sector required to meet the demand from renters over the next four years.
Posted by Staff Writer: Frances McDonald
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