Landlords risk losing valuable income by not checking out tenants

The National Landlords Association NLA, the UK's leading trade association for landlords, is warning landlords of the real risk of rental arrears if they fail to carry out appropriate checks on prospective tenants.

A situation where a tenant fails to pay rent could take up to six months to resolve, leaving landlords out of pocket to the tune of £6,000. With increases in demand for decent and affordable rental accommodation, landlords should seek to minimise this risk by carrying out tenant reference checks

NLA Tenant Check offers landlords peace of mind at a time when more and more people are choosing to live in rented accommodation rather than purchase a property. It allows landlords to check that a prospective tenant is who they say they are, confirms whether or not they are in employment and serves as a guide as to whether they can afford to pay the rent.

The basic package includes bankruptcy and County Court Judgement searches. A more detailed profile of a prospective tenant is also available in only three days and offers more comprehensive information, including ID verification checks and written confirmation of employment and income

NLA members can access NLA Tenant Check for as little as £6. Other landlords have to pay as much as £28.

Commenting on the launch of NLA Tenant Check, David Salusbury, Chairman, NLA, said: ''NLA Tenant Check is a simple and affordable tool which allows landlords to reduce the risk of possible future problems with rent arrears and gives them the opportunity to paint a clearer picture of their prospective tenants. "By simply entering a few details about a new tenant into the system, the landlord will be given a profile of that person's credit history which will them to make an informed decision about their ability to keep up with rental payments.''

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2008-07-23 10:53:49 © Moneyextra.com

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