How Tenant referencing can give you a good return on your investment
How Tenant referencing can give you a good return on your investment
If you're going to pay for something you want to know what you get out of it, it's an age old feeling of value for money.
Many landlords and letting agents invest in tenant referencing and spend money on making sure there tenants are good for their cash and will look after the property rented to them. Maybe you're thinking about spending some money of tenant referencing in the future. Well no need to fear its not very expensive, but can save you a lot of money in the long run.
The average cost of an online tenant credit check is just 10 with free tenant referencing. This 10 will give you the best insight into your tenant's likely behavior without interrogating them personally yourself. This 10 will show you if they have debt, have undisclosed address and if they are recommended by their previous landlord. Not a bad deal really, 10 well spent to get all that information and the knowledge to choose a responsible and lovely tenant for your precious and equally lovely property.
But what if you don't spend 10 on tenant credit checks and referencing? What if you decided that you want to risk it, live on the edge and not check your tenant and just see what happens? Well, if this tenant has a history of bad debt and doesn't pay then a situation is arising. What if the previous landlord would have been happy to warn you of their very own trails with this tenant had only you asked, but you didn't. Well if this is the unfortunate situation you find yourself in you'll be paying well over 10 to recover lost rent and hire lawyers to evict the tenant, and much more than 10 to fix the damages the tenant made to the property.
So 10 vs a lot lot more is quite easy to decide which route is best.