Once you have found a tenant, to make it trouble free you can do the following tasks.
- Retrieve references from previous landlords and from their employers.
- Have the tenant agree to a credit check. You can also do a rent guarantee with some credit check companies.
- Go round the property with the tenant to check the inventory and for both of you to sign and date it. If more then one person is renting the property make sure that all sign and date it. This should be done on the day of tenants moving in.
- Make sure ALL tenants sign and date the assured short hold tenancy agreement. So that if one defaults on payment for the rent the remaining tenants is responsible to make up the difference so that you are paid in full.
- Landlord Inventory Checklist
- A poorly prepared inventory checklist can prove to be costly for the landlord and make it impossible to determine any loss or damage to the property or its contents. Landlords should ensure a correctly prepared inventory checklist is drawn up. This protects both parties - saving time, hassle and money. You can print off our inventory list form this link (to be added)
- Rent Guarantee
- Rent guarantee insurance, for a relatively small annual fee, can protect landlords against loss of rent. Landlord rent protection insurance can be combined with Legal Assistance Insurance wherein the landlord's legal costs of recovering rent and/or evicting a non-paying tenant.
- Landlord Insurance - Landlords will require contents and buildings insurance for their buy to let property. Various Insurance companies specialise in Landlords Insurance