When choosing the right tenant for your property there is nothing more valuable than a reference. Not only do landlords like them, landlord insurance providers like them too. This is because they have proof of a good history as a tenant. This means the chances of them carrying on being a good tenant is very likely.
Once you have found a potential tenant, one of the quickest and easiest ways to get a reference is to phone their ex-landlord. Make sure you ask all the right questions. You want to know if there were any problems and if so what they were and why they left their previous home. Don’t assume though if there was a disagreement between landlord and tenant then than means they are a bad tenants. There are always two sides, all you need to worry about is if the tenant was in the wrong or not.
There is a slight difficulty though when it comes to tenants who are first time renters. This doesn’t mean though you can’t look for a reference elsewhere e.g. employers. However, many will be reluctant to give out too much information but if your potential tenant went to university you might be able to ask their Uni for a reference.
Do remember as a landlord yourself you may be asked to give references. It does take up a lot of time and rarely adds any value in monetary terms to you property. The more references there are ait means the chances of other landlords getting bad tenants and this will hopefully make the letting sector less risky and therefore more profitable.
You should always let your potential tenants know you will be asking for a reference and just double check they are happy for you to ask. If they aren’t this should sound alarm bells in itself so be careful and sensible when choosing your next tenants