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Landlords run risk of tenants defaulting on rent
22/07/2008 17:35:00
Landlords who do not run a thorough check on their tenants run the risk of them going into arrears on rent at some point, a report has suggested.
According to the National Landlords Association (NLA), if a renter neglects to pay, a six-month period of arrears would cost the average landlord nearly £6,000.
Hence the NLA has established a new tool for people who lease property out called the NLA Tenant Check, which permits a landlord to verify the true details of who their prospective tenants are, including employment and financial status.
David Salusbury, chairman of the NLA, said: "The landlord will be given a profile of that person's credit history which will allow them to make an informed decision about their ability to keep up with rental payments."
In other tenancy news, the NLA said poor energy-efficient housing will lead to tenants moving on quicker than expected, increasing tenant turnover for landlords.
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