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

Staycations in Scotland

In this three-minute read, we share top tips for successful camping trips in Scotland or closer to home in Ayrshire.

Friday 2 July sees the start of the UK’s National BBQ Week – one of the Great British public’s favourite pastimes as well and checking out properties on Rightmove!   Whether it’s bangers, halloumi burgers or spicy cauliflower steaks on the menu, BBQs are the number one meal option when it comes to camping trips.

We’ve put together a list of essential items for a successful camping trip.

Prepare for all kinds of weather

We all are very well aware or how unpredictable our Scottish weather can be. However, there’s no such thing as bad weather if you’re appropriately dressed. But a lightweight rain coat and an extra sweatshirt are a good idea if the weather is unkind.

A travel-size games compendium might come in handy if rain forces you to retreat inside your tent.

Portable power bank

In an ideal world, camping trips should be full of wholesome fun; muddy knees, swinging on tree ropes and marshmallows by the campfire.

In reality, the kids still need their Peppa Pig fix or Instagram updates and you might need to keep an eye on work too.

So, to keep you connected, a portable charger is an absolute must-have   

First-aid kit

Be prepared for all manner of first-aid needs – nettles, insect bites, BBQ or sun-related burns, and don’t forget about the famous Scottish midges.

Kit yourself out with plasters, antibacterial cleansing wipes, healing cream, and maybe some paracetamol for the morning after. Better to be safe than sorry.

An extra loo roll (or two)

Not that we’re endorsing buying more than you need (we still remember the Covid-19 loo roll fiasco), but a couple in reserve is always sensible.

A gadget for everything

Don’t forget the corkscrew, imagine a camping trip with no wine!!  Or better still, invest in a Swiss army knife – opening tins is near on impossible without a can opener. And you never know when you might need that emergency nail file.

If you’ve got any camping tips to share, or even better, recommend your favourite campsite in Ayrshire or Scotland in general, get in touch with us here at Parkview Property Ltd.

Have a great weekend and Happy Fathers Day

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

Top Tips for Landlords

Top Tips for Landlords to Stay Calm and in Control of their Properties.

In this two-minute read, we show you how to keep calm and in control when letting your Ayrshire property.

The idea that investing in rental property is easy passive income is a myth. Letting and managing rental property can be stressful, especially for inexperienced or accidental landlords.

This month sees the championing of Stress Awareness Month; an annual event which recognises the dangers of modern-day stress and provides valuable coping strategies. If you are wading through tenancy treacle, read our top tips to temper your tension.

Do your homework

Whether it’s a simple credit check or a comprehensive background check, referencing your tenant is ESSENTIAL. If you have concerns, you could arrange to meet your prospective tenant in their current property to see how it’s been looked after or even go a step further and ask for a rental guarantor. If you have rental income insurance, check whether the terms of your policy stipulate the level of referencing required.

Build a circle of trust

People buy people. And much like you want the right tenant in your property, you want the right tradespeople working in it. We guarantee that you will, at some point, have some repairs that need attention – whether from an accident or general wear and tear. Building a trusted network of tradespeople that provide value for money will stand you in good stead.

Don’t leave yourself short

Now, more than ever, we understand the importance of an emergency fund. In tough financial climates, rent arrears can be more of a reality than a risk. In situations like this, contact your tenant – there may be a simple explanation which is easily remedied. If not, don’t delay in taking advice. If you rely on your rental investment for income, consider whether rental insurance is a sensible option.

Know when you need help

If it all gets too much, ask for help. A good letting agent can manage the entire tenant journey for you: from tenant sourcing right through to the end of tenancy clean. Inventories, referencing, deposits, rent collection, repairs, and legal and regulatory compliance; you name it, it’s covered.

We understand the pressures involved in letting your property and are here to alleviate your anxieties. If you’d like to hear how we can make your property let a stress-free experience, give us a call on 01292 442888.

Copyright Parkview Property Ltd 2021

by Andy