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Landlords 'should ensure they conduct tenant checks'
Posted by Mark Cunningham
Conducting background checks on tenants should not be seen as an "optional extra" by landlords, it has been claimed.
According to the National Landlords Association (NLA), too many buy-to-let property owners are failing to take such precautions.
The organisation - which claims to represent over 19,000 members and is a representative body for private-residential landlords in the UK - warned that by not making checks on potential renters, investors risk losing money.
Such assessments involve things like employment references, County Court judgments and bankruptcy and insolvency searches.
Chairman of the NLA David Salusbury said: "If a potential tenant has a track record of not paying their rent or states they are employed when in fact they got sacked, the landlord should know."
He went on to describe failures to make checks on tenants as a "costly mistake", noting that this could see landlords lose out on rental income due to non-payment.
13/04/2010 15:57
News category: Property