1. Design a data capture form so you don’t forget to ask a new tenant all of the information that you need.
2. Affordability- we ask for 35X the rent for professionals and guarantors or a minimum of £15,000 per annum.
3. Local Housing Allowance (LHA) tenants- make sure the tenant qualifies for the right bedroom rate.
4. LHA tenants- make sure you are clear on how much a tenant can top up their rent if they are on benefits.
5. Credit check your tenant or guarantor.
6. Landlord references- must be written not verbal.
Home visits- see your tenants in their current property.
8. LHA tenants- all benefit forms must be filled in before they get the keys for the property. Ask for a receipt from the council.
9. LHA tenants- secure direct payment and get the tenant to sign a client authority form so you have permission to find out about the claim.
10. Find your tenant on Facebook- you can find out a lot about your tenant by doing this.
11. Google- search your tenants name on Google and see what pops up.
12. Always get the previous 3 addresses not just the last one. Make sure you do the research.
13. Massive warning flag- at my last property I was living with parents. This is a good way of hiding a previous bad tenancy.
14. If it sniffs of bull it normally is.
15. Good properties attract good tenants. Make sure your property is up to scratch because bad properties attract bad tenants.
Schedule a call with our senior property sourcer Mike Bell:
or email: firstname.lastname@example.org
or call: 0191 491 0344
Make 2015 the best year you have ever had in property