If you are the landlord of a buy-to-let property, the success of your business will depend upon you finding tenants who you can trust, and who pay their rent as and when it is due.
Our experienced team is familiar with the challenges faced by landlords with tenants who are more than just tardy in paying their rent. Our Rent Guarantee Insurance safeguards you against any loss of rental income when that rent remains unpaid – for up to 24 months.
The cover is also designed to compensate you for the costs involved in any legal proceedings against such tenants and offers free access to a 24/7 Landlord Legal Helpline.
Some activities might fall just short of being illegal but are nevertheless judged to be anti-social – rowdy or excessive noise, for example, threatening behaviour, or acts of vandalism and graffiti.
Not only may these activities create a headache for you as the landlord, but they may also sour relationships with your neighbours and attract the attention of local authorities and the police.
Unscrupulous tenants may have scant regard for a property that they are renting. Thefts, or attempted thefts, from your property – by your tenants or their visitors – may result in costing you dearly. Great care needs to be taken in selecting and taking up valid references from prospective tenants to whom you plan to let to.
Draw up an inventory so you can keep track of any items that may go missing.
(It is important to note that our rent guarantee policy can only be taken out if the tenant has passed the Tenancy checks, including previous references and Credit Reference checks etc.)
Knowing just who is going to be occupying your property is important not just from day one of any tenancy, but throughout its term. There may be some tenants who sub-let the accommodation without your permission or authority – either to share the rent with others, or to cash in on the opportunity to exploit the tenancy by sub-letting at an inflated rental.
Your tenant may not even be aware that they are not allowed to sub-let, so make sure you reinforce the message when taking them on as a tenant
If you get the feeling that something isn’t quite ‘right’ with your let property, it is important that you act on your gut instincts. Get in contact with the relevant authority and follow their guidance on the next steps.
Failing to alert the authorities when you suspect or are aware of illegal activity taking place at your property could result in severe repercussions.
We have covered off some of the main illegal activities that may happen in a rented property.
Don’t overlook activities in which unscrupulous tenants might engage. From the outset, do everything by the book – criminal tenants will be looking for a landlord who is ‘lax’.
Ensure you always have a rigorous tenant screening process and avoid tenants offering to pay several months’ rent upfront in cash.
Build good relations with the neighbours and ask them to alert you if they have any concerns with something unusual going on at your let property
Following the steps mentioned above as well as making regular, planned inspections may help keep your property safe.