How to avoid bad tenants

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    How to avoid bad tenants

    10 Golden Rules

    1. Before you let a tenant into your property ask to see their last 6 months bank statements.This will give you a very clear picture on their finances.If they dont agree to let you have this information..dont take them on as tenants.(this one is a must)

    2.Speak to the tenants employers.Dont just rely on the paperwork.

    3.Speak to the current landlords as to how they have been during their stay.

    4.Only give a six months agreement to start with.

    5. Try and get a guarantor.

    6.If you want DSS tenants get a BIG deposit.

    7.Take out a credit reference.

    8.Arrange at first to go and collect the rent personally for the first few months,this will let you view the state of your property.

    9. If you are using a letting agent ask them to provide you with other landlords who are currently using their services.to make sure all is above board.

    10. Serve a section 21 notice at the start of the tenancy.Make sure you register the deposit

    Good Luck

    Johnathan www.landlordaction.co.uk

    #2
    Originally posted by Johnathan View Post

    10. Serve a section 21 notice at the start of the tenancy.
    Very bad move, (for both T & LL) as discussed here recently.
    Now signature free.

    Comment


      #3
      Originally posted by Johnathan View Post
      10 Golden Rules

      1. Before you let a tenant into your property ask to see their last 6 months bank statements.This will give you a very clear picture on their finances.If they dont agree to let you have this information..dont take them on as tenants.(this one is a must)

      2.Speak to the tenants employers.Dont just rely on the paperwork.

      3.Speak to the current landlords as to how they have been during their stay.

      4.Only give a six months agreement to start with.

      5. Try and get a guarantor.

      6.If you want DSS tenants get a BIG deposit.

      7.Take out a credit reference.

      8.Arrange at first to go and collect the rent personally for the first few months,this will let you view the state of your property.

      9. If you are using a letting agent ask them to provide you with other landlords who are currently using their services.to make sure all is above board.

      10. Serve a section 21 notice at the start of the tenancy.Make sure you register the deposit

      Good Luck

      Johnathan www.landlordaction.co.uk

      10 Golden Rules for a tennant

      1. Before considering renting a property off a landlord ask to see 6 months of their bank statements to ensure that they are financially stable. Ask to see the mortgage agreement to ensure they are entitled to rent the property to you. If they dont agree to let you have this information..dont take them on as Landlords.(this one is a must)

      2.Speak to the landlords mortgage lender.Dont just rely on the paperwork.

      3.Speak to the current tenants as to how the landlords have been during their stay.

      4.Only agree to a six months agreement to start with.

      5. Try and ensure that the are letting through a professionally recognised agent.

      6.Ensure that they are going to comply with TDS.

      7.Take out a credit reference of the landlord.

      8.Arrange to go to the Landlords house the first couple of months to pay the rent so that you can ensure that the address you have been given for service is actually their residential address.

      9. If they are using a letting agents, ask them to provide details of tenants satisfied with their service.

      10. Move out on the last day of the fixed term without giving any notice. Make sure you take them to the cleaners if they havent registered your deposit.

      Good Luck

      Comment


        #4
        Originally posted by Planner View Post
        Ensure that they are going to comply with TDS.
        Personally I think most T's would rather that LL didn't comply; then they get 3x deposit back (if they know how, which nobody seems to at the moment).

        The best and only sure way to avoid getting bad tenants is perfectly simple. And, it's infallible --- take this advice and you will never, ever have a bad tenant. The advice is this --- don't be a landlord.

        Peter

        Comment


          #5
          How to plug your website on a forum

          1) Learn how to use punctuation.

          That's it!

          Peter

          Comment


            #6
            1.Great idea .....Most people will object very strongly to this and does NOT give clear overview..just pic of that acc ...what about cc loans etc (Most Lenders dont even ask for this !!!)

            2.Easy for "mates" no to be given.

            3.Yes good idea but see above

            4."usually" a good idea...

            5.If A1 referenced , can cause serious offence to prospective T ..

            6.These guys generally have very little cash ....Guarantor far more important..

            7.Most come up as moderate or high risk ...far better to get a professional reference agency to credit score and give a suggested credit limit based on overall financial position...

            8.Yep good idea ....but sets precedent for "forgetting" to set up SO and being expected to do this every month ...also no good if prop any distance or like me you have in excess of 100 tenants then few =3 is 300 visits so visit nearly every day ...I dont think so !!!!

            9.They will only give you "happy" ones to phone !!!!

            10.There are an awful lot of LL LA and legal bods that would disagree in a big way !! ( and tenants ...what if T is looking for a long term home and you are serving notice to quit after 6months ?..you are going to loose all of your potential long term Tenants by doing this !???



            As requested elsewhere:

            Jonathon .....
            Not impressed with your 10 Golden Rules at all ............

            Have you got an accurate 10 point plan for recovering o/s rent ?
            and another for explaining how to regain possession ?
            as rumour has it that people can pay third parties, upto and over £1000 for filling in half a dozen forms ???? (as advertised)

            Simon
            A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty.
            W.Churchill

            Comment


              #7
              Originally posted by pcwilkins View Post
              1) Learn how to use punctuation.

              That's it!

              Peter
              Blimey I would be no good then i cant spell or use punctuation for toffey. (Went to crap school)

              Comment


                #8
                I'm a good tenant - have always left the place in a better state than when I moved in - always wanted long-term, paid rent in advance each month of due date, etc, etc.

                If I met a landlord who asked for 6 months of my bank statements, I'd not go there - the risk of fraud and identity theft would be my main concern. That they then further said they were doing credit references in addition to the 6 months of statements - that would seal it.

                Well done planner - sums it up nicely.

                I would of course view this landlord as being someone who'd had a bad experience - however, that's what meeting prospective tenants is about.

                I have submitted six months of bank statements to the letting agents I'm currently with - because the landlord - didn't reply to the request for a reference - no reason why they shouldn't have supplied as I'd done all the above and been there over 18 months plus redecorated in a neutral decor because it was so scruffy when I moved in.

                Cuts both ways these days - and I won't rent from someone who can't give me at least a year - I'm sick of the expense of LL selling with me in it paying their mortgage and costing me so much to move after only a six months let.

                Plus for me, the upheaval and the time spent trying to find new places after six months - days spent viewing and packing - would put me off ever renting for six months.

                I've now lost count of the number of times the property I've been in has either been sold with me in or remortgaged at the last moment - 9 counting this one over 6 years!!!

                If LLs are letting I wish there was something that we could do to check their references that they are in the market to do a long let otherwise declare it's a short let (6 months in my book is short let).

                I do now check their mortgage - from the Land Registry before taking up an offer - gives me details about how long they've had the property and remotgaging as well as the company they have the mortgage with.
                In the past have a property I was keen on Land Registry reverale changes of mortgage companies and discovered property has been remortgaged 3 times within 4 years - left that one!

                Cuts both ways.

                Comment


                  #9
                  Originally posted by heather5 View Post
                  In the past have a property I was keen on Land Registry reverale changes of mortgage companies and discovered property has been remortgaged 3 times within 4 years - left that one!
                  Why?




                  (and why can't I reply with a 4-character response without being told my message is too short?)

                  Comment

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