There’s nothing worse for landlords than nightmare tenants. From late rent payments, to damaged property, irresponsible tenants are not only infuriating and stressful but they can leave you seriously out of pocket.
It’s not always easy to spot a bad tenant when you’re going through the letting process, regardless of how good their references are or how nice they seem when you’re vetting them.
So what are the tell-tale signs of a not-so ‘model’ tenant? And if you do end up with a problem tenant then what can you do to protect yourself from loss of income and your property from damage?
As students start heading back to Uni after the summer holidays, thousands of landlords around the nation will be getting set to welcome these youngsters into their properties and for those less experienced at renting out their property to students – there will no doubt be a few nerves amongst them.
The perception of students as tenants is not always positive with many landlords worried that this will leave their property in ruins, with messy students running amok and partying every night with little regard for their property. Student renters do pose other issues for landlords too, such as the fact that their leases are often shorter term and their properties tend to remain empty over holiday periods.
So how can you find the best student tenants? What ground rules need to be put in place from the start? How can you make sure your property is in good shape when they leave? And how do you make sure you have the right insurance in place?
For the answers to these questions and any more, Paul Shamplina from Landlord Action, Simon Thompson from Accommodation for Students and Eddie Hooker from Total Landlord Insurance joined us to provide advice on these issues and answer questions from the live online audience. The show also features James Davis, CEO of Upad offering advice on how to choose the right tenant. Watch the on demand version of the show now to find out more.
For more information: www.totallandlordinsurance.co.uk