If you’re a new landlord who has just taken control of their first buy to let property, then it’s highly likely that you have a number of questions swirling around in your head.
Even if you’re confident about marketing your property and attracting tenants, it’s likely that you still have questions about how you can ensure that your tenants are the right ones for your property.
Here, we look at how tenant referencing can put your mind at ease, including what it is and how it provides peace of mind.
Tenant referencing explained
If you’re letting out an investment property, then tenant referencing is a vital process as it can help keep your property safe. Tenant referencing can help you learn more about the people who are moving into your property and what their history is like; helping you make an informed decision in the process.
By taking a look at their bank details and ascertaining their authenticity, as well as finding out whether a tenant has paid their rent in the past, or whether they’re on any of the government’s asset freezing lists – which would impact upon their ability to pay rent in the future – you’ll get to know more about your prospective tenants and whether they can afford to live in your property.
How does this give you peace of mind?
As a landlord, you’re entrusting your property in the hands of someone else (often someone you barely know), which is a scary thought. Tenant referencing ensures that private landlords get the tenants they want, helping you do the best possible job of locating the best possible tenants for your property.
By giving you peace of mind about your tenants and their ability to pay the rent, tenant referencing becomes an essential part of the lettings process, and it also gives you the confidence that they are who they say they are, they work where they say they work and they have a history of paying the rent on time. With tenant referencing, your property will be in safe hands. So use it today to put your mind at ease.