Vetting Tenants & Risk

The most dishonest tenants are often the most plausible so it becomes very hard to take things at face value. A few phone calls, a couple of stamps and a small investment of £10 on a credit check could save you thousands of pounds in loss of rent and damage to your property.  If renting to DSS see Vetting DSS
 
There are in excess of 150,000 possession requests every year.  So at any given time  there is a constant stream of bad tenants looking for new Landlords. Simply asking the tenants to complete a Tenancy application form and informing them you will be doing a credit check is often enough encourage people with something to hide to move on to the next Landlord.
 
If you are already familiar with process, length and complexities of reclaiming possession of a tenanted property then you will appreciate the need for diligence in the vetting process.
 
 The following 15 tips will help you.
  1. If renting to DSS see Vetting DSS
  2. Always  be cautious of tenants who want to move in a hurry.
  3. Never allow the tenant keys until the tenancy agreement is signed and funds cleared. see No signed tenancy agreement
  4. Initial rental agreement should be 6 months or only 12 months where there is a valid 6 month break clause.
  5. Where possible always ask for a Guarantor.
  6. Always have the tenant complete a Tenant application form.
  8. Credit check for County Court Judgements and credit risk score.

Mr W was in a hurry to move in. We were hungry for rent, and he seemed ideal, although in his case, a few extra checks by me would almost certainly have flashed out a few warning signals.

I could not have survived it as economically and sanely as I did without the advice of RIKY’s website and helpline, you can draw your own conclusions – and call me biased if you wish.

 
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