Picking a tenant

Getting the right tenants and establishing a professional relationship with them is a fundamental part of building a successful buy to let business. So let Rocket Lawyer help you minimise your risks by taking the right steps in preparing your letting.

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Checking your tenant

Whether you are using a letting agent to advertise the property or whether you are marketing the property yourself, when a prospective tenant is interested in the property, you will need to check whether they will be a ‘good’ tenant who will respect the property and pay the rent.

Remember that even good tenants can turn bad due to their personal circumstances - they may lose their job, be involved in a matrimonial split or even become ill.

Initial practical steps you should take when considering a potential tenant include the following.

Obtain a credit report, this will give an indication of whether the applicant is a responsible person financially.

Obtain references, these can be supplied by the applicant’s bank, a former landlord and their employer. You need to know if the applicant is good at paying the bills on time and whether they have ever been evicted from a property.

Discrimination

When you are considering potential tenants, remember that it is illegal for landlords to discriminate against tenants on the basis of: gender, sexuality, race, disability, religion.

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Create your Tenancy agreement

Answer a few questions. We'll take care of the rest