Before you allow a prospective tenant to sign your tenancy agreement, it is important to make sure that you vet them. Doing a background check and asking for references will allow you to get a better idea of their character and ability to meet their monthly rent payments. Here are three ways to vet a prospective tenant.
- Get an employer reference
Landlords should ask prospective tenants to obtain an employer reference as proof of their status of employment. An employment reference will prove that the tenant works where they say they do. Finding out how many hours they work will also give you an idea of whether they can actually afford to pay the rent. Make sure that they are on a permanent contract as a temporary contract may suggest that they will be out of work in the near future.
- Carry out a credit check
All landlords should carry out credit checks on prospective tenants. A credit check will not only authenticate their identify, but provide evidence of their credit worthiness. Any evidence of CCJs, bankruptcy or poor credit history may suggest that the tenant is financially unreliable and could be a risk.
- Get a reference from a previous landlord
Ask prospective tenants for their previous landlord’s contact information so you can obtain an honest reference. Be sure to ask their previous landlord how long they were in the property, whether they paid their rent each month and what condition they left the property in. This will give you a good idea of whether an individual will make a good tenant or not.
Rather leave the vetting process to the experts? Get in touch with Altwood Properties today!