In order to be a successful landlord, you need to perform a number of jobs. Interestingly, you may also have to play the role of a private investigator, as that's the only way to determine which individual out of your pool of applicants is going to be a successful applicant.
You need to be good at picking responsible applicants to keep your rental business afloat, but it's also a fact that you cannot do the hard work required to track down tenant references. This is exactly when it makes a lot of sense to get in touch with a letting agent or a tenant screening company.
What is Tenant screening?
Tenant screening is a process of getting relevant information that helps you make a sound decision on a prospective applicant's suitability. With an increase in the number of people who are looking to rent, people are now applying for properties that are usually at the top of their budget; therefore, referencing applicants is the only way to have the peace of mind that those people can afford your property.
The Cost of Getting Rid of a Problem applicant
What is tenant screening?
Considering the current buy-to-let boom, many landlords are now interested in taking advantage of this investment opportunity. However, it's found in a research study that thousands of landlords are facing a loss of at least £1,500 as unexpected costs.