How To Avoid Bad Tenants

https://youtu.be/f8_B6D6DxWE

New landlords often flirt with the idea of ditching traditional tenant selection processes and taking a DIY approach instead.

After all, there are so many ways to source tenants these days – like Gumtree or social media – why bother with anything else?

Trust us, side-stepping a formal selection process may seem like it might save you time, but it can be so much costlier in the long run.

Wind up with a bad tenant and you can expect:

  • Sleepless nights.
  • Sky-high legal bills.
  • Lost income.
  • Property damage.

Let me explain more about the risks of skipping proper reference and credit checks.

If you use an online platform like Gumtree

The internet has made it easier for landlords to find tenants, but not easier to find good tenants. Post an ad online, and you’ll get lots of responses – but many of them will be from time-wasters and con artists, not genuine candidates. Professionals are more likely to use a traditional bricks and mortar letting agent because they’re wary of getting ripped off in an online scam.

Tenants aren’t the only ones to fall prey to online scammers; landlords can be targets, too. Online crooks often use ‘to let’ adverts as ‘phishing’ opportunities. They pose as tenants to get as much information as they can about you and your vacant property, before they get to work fleecing you.

If you let to a mate or relative after asking around on social media

You may be tempted to ask your contacts on WhatsApp or Facebook if they’re looking for a place to rent. But be warned: things can get very messy when you blur the lines between personal and professional. If things don’t work out, it could cause a major family fall-out or friendship rift.

Sometimes, when a landlord knows the tenant, they don’t bother with a contract. Please, never, ever do this. If you do get into a dispute later, your legal options will be limited.

Some buy-to-let mortgages prevent landlords from renting to a family member or friend. Always check the fine print before making a decision.

Insurance companies often get twitchy if the tenant is a relative. In some cases, your cover is invalidated if the tenant is a family member. In other circumstances, you won’t be covered if you haven’t conducted reference checks.

What’s the alternative?

Here at Parkview Property, we have a 5 star tenant selection process that offers you peace of mind and legal protection. It involves screening candidates by phone, in-person interviews, and rigorous reference, credit, and employment checks.

Remember, it’s never too late to screen your tenants – even if they’ve already moved in.

If you want to know more about our referencing procedures, please feel free to contact us here at Parkview Property Ltd  Tel; 01292 442888

Copyright 2021

by Andy

6 Reasons Why Property Inspections Are a Must for Landlords

In this three-minute read, we look at why regular inspections should be central to your property management strategy.

When you’re a busy landlord juggling a multitude of responsibilities, it’s easy to let a crucial part of managing a property – regular inspections – slide.

Landlords usually carry out inspections with clockwork regularity at the start of a tenancy, but things can get a little lax over time.

Perhaps the tenant presents as a model citizen, and the landlord develops a false sense of security. (To which we say, remember Walter White, the unassuming science teacher turned crystal meth baron in the TV series Breaking Bad.)

Or maybe, the tenant pays their rent on time and never says a peep, so the landlord assumes that everything is ticking along nicely (silence is golden, right?).

No matter how much you like your tenant or how busy you are with other commitments, never skip or delay a property inspection. They are one of the best ways to protect your investment – and head off disaster.

Here are six reasons why Ayrshirelandlords should carry out regular inspections.

  1. Maintenance

It’s easier (and cheaper) to rectify a minor maintenance issue than a major one. A tenant may not mention a leaky tap or a little bit of damp, but these problems can morph into expensive repair jobs if left unresolved. It’s also essential that you check that carbon monoxide monitors and smoke alarms are working.

  • Paper trail

The photographs and notes you take during each inspection (yes, you should be doing this) create a valuable paper trail. If there is a dispute at a later date, you’ll have evidence to support your side of the story.

  • Build rapport

If your tenants find you approachable, they’ll be more likely to let you know when there is an issue and treat your property respectfully.

  • Contractual obligations

It’s important to know that your tenants are complying with their contract and haven’t sublet the property or sneakily adopted a pack of Great Danes.

  • Spot illegal activities

With regular inspections, you can ensure your property isn’t being misused by a criminal gang. We know this sounds far-fetched, but gangs – particularly those involved in cannabis production – are becoming increasingly brazen. Trust us, the last thing you want is a police cordon and Sky News reporter outside your property.

  • Insurance disputes

Many insurers won’t pay out on a major claim if the landlord hasn’t conducted regular inspections. They argue that by neglecting to visit the property, the landlord has not been vigilant and has therefore invalidated the policy. Whatever you make of this justification, cover yourself, so you don’t wind up out of pocket.

For advice about our property management services, please contact us here at Parkview Property 01292 442888.

by Andy

Seven Ways Ayrshire Landlords Can Make a Tenant Feel at Home

In this three-minute read, we look at a new report that outlines how Ayrshire landlords can build a long and prosperous partnership with their tenant.

What’s the secret to a successful tenant/landlord relationship? It’s a question that has vexed property gurus through the ages, but now the University of Stirling thinks it has the answer.

A new report from the university, Making a Home in the Private Rented Sector, says the key to a long and happy property partnership is to make a tenant feel at home.

After all, if a tenant feels safe and settled, they’ll be happier and healthier, and more likely to take good care of the property and stay put long term.

And isn’t that the Holy Grail for any landlord? Who doesn’t want a reliable tenant who keeps the place tidy, pays their rent on time, and remains in situ for years?

The report identifies seven things landlords can do to make a tenant feel at home.

  1. Keep your property in good condition 

If you don’t take care of your property, why should anybody else? Set the tone at the start of a tenancy by ensuring that the property is in good nick. Invest in energy efficient measures such as draught-proofing and insulation – your tenants will appreciate it during winter.

  • Fix repairs promptly and to a high standard

Respond quickly when a tenant reports an issue. Dithering will only make your tenant less likely to raise issues in the future (which means a minor problem could snowball into a major repair job).

  • Don’t jump to conclusions about prospective tenants

You may have a fixed idea in your head of what makes the “perfect tenant”, but avoid making assumptions based on age, income, or other characteristics.

  • Avoid blanket bans on children and pets

Landlords who veto children, cats, dogs, ferrets, or hamsters could be missing a trick. When a family or pet owner settles in a property, they tend to stay longer because they don’t want the hassle of relocating – meaning a flexible landlord can enjoy a stable long-term income.

  • Negotiate about home decorating

We’re not suggesting that you give a tenant free rein to do a full Laurence Llewelyn-Bowen makeover, but think through any redecoration request carefully before responding. If a tenant can make your property feel like their home, they’ll stay in it for a longer period. And they may do a great job and add value to your property. 

  • Be respectful and supportive

Keep the lines of communication open by being respectful and helpful. You don’t have to become BFFs (in fact, we’d rather you keep it strictly professional), but be sensitive to your tenant’s feelings, especially when it comes to things like inspections. 

  • Offer longer tenancies with stable rents where possible

If things are going well, consider offering a longer tenancy. That way, you’ll both know where you stand in the long run.

If you have any questions about building a good tenant/landlord relationship, get in touch with us here at Parkview Property Ltd 01292 442888 or email us at info@parkview-property.co.uk 

COPYRIGHT Parkview Property 2021

LARN 2010001

by Andy