Landlords have been reminded of the importance of vetting prospective tenants.
It has been suggested that carrying out thorough background checks and verifying bank details and references are the best ways to help secure someone who will stick to their tenancy agreement.
Mike Colmans, underwriting manager at Norwich Union's property owners division, says that: "Vetting the tenant is essential."
He urges landlords not to accept payment for rent in cash but to insist that it is paid by tenants electronically through a bank.
"Landlords should be wary if a short-term let is requested and sub-letting should be discouraged," the expert advises, adding that once the tenant is in the property regular inspections should be undertaken.
Tom Entwistle, editor of LandlordZONE, suggests that selecting the right tenant and undertaking all the necessary checks and vetting procedures is the key to being "successful" in the buy-to-let sector.
Written by Christopher Evans
Published on: February 17, 2009