Best Practice for Landlords If The Price is Right?

Best Practice for Landlords If The Price is Right?

As George Osborne warns that the buy to let market faces a fresh crackdown in the coming months, as more thoughtless legislation is heaped onto the private rented sector at Tenant Referencing UK we’d like to ask:

Whereabouts is the best buy-to-let advice in the industry?

We ask this because in the PRS there are many experienced sources who have a wealth of knowledge, but it is a saddening and worrying fact that the majority of those people will only help on the basis of what is advantageous to their business model.  So now that thousands have poured their life savings into buy-to-let properties and already face a punitive stamp duty hike from next month, further measures planned for our industry should now be the ultimate call to action for landlords to redress where exactly they source help and advice from in order to remain solvent in today’s market.

Tenant Referencing Industry Expert Paul Routledge said: ‘At Tenant Referencing UK I have been supporting landlords in the industry for 7 years, unpaid, to promote best referencing practice.

The problem with the PRS is that industry leaders do not tell their peers what is necesserily best for them, they tell them what is best for them. Quite simply, one of the biggest flaws in the industry is that our industry specialists are joined at the hip to companies that promote out of date products or services as best advice. They will happily promote these as best practice if the price is right.

It is a real shame as it leaves new landlords coming into the industry totally reliant on hoping they get the best products; rather than knowing they are getting the best.’

So what do we do, now that we’ve reached this anxious impasse where both government and many landlord services see everything as ‘up for sale’ and just want to milk us for all we’re worth?

Seek out the best

As advocates of proactive tenant referencing protocol, our methods are supported as best referencing practice by the likes of The Property Redress Scheme, MyDeposits and The National Landlord Association, but at the same time ironically seen as a conflict of interest because it is less money in their pocket to promote us as ‘the best.’

Therefore with the latest Right to Rent legislation going live recently, it’s even more important to find the best way to validate the credentials of your potential tenant before they move in to your property. So ask yourself:

Does your landlord association, estate agent or letting agent provide you with a tenant history report provided by their past landlord(s) and/or agent(s)?

Tenant Histories (exclusively available from LandlordReferencing.co.uk) are extremely advantageous to all UK landlords because:

  1. It is the only system that can tell you whether your applicant tenant has had previous rent arrears, property damages, anti-social behaviour, etc throughout their current and previous tenancies.
  2. Exceptional tenants who may not have a great credit rating can build their personal tenant history at LRS with the help of their landlord or letting agent.
    Don’t forget: a person with a good credit score doesn’t automatically make them a good tenant. And more importantly, a person with a bad credit score doesn’t automatically make them a bad tenant either.
  3. As a fully signed up LRS member, the system acts as a firm deterrent; whereby, once tenants have been told that the Tenant Referencing UK system is already in place more often than not they have reconsidered their actions and decided against leaving on bad terms.

As they say: the proof of the pudding is in the eating. And if you’re not accessing these type of tenant histories then you need to ask your provider WHY?

Mary Latham, NLA Representative and true ‘freedom-fighter for landlords’ previously said:

‘Read here why I will never take another tenant without using this service in future.’

So as the government acknowledge the private rented sector simply by piling on extra legislation and milking it for all its worth, instead of educating landlords on their duties, and buy-to-let industry ‘gurus’ tout what is advantageous to them, rather than what is best protocol for landlords; we urge you to join our community today.

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What makes Tenant Referencing UK different?

It is not about big databases being used for financial gain by huge financial conglomerates, but about communities of landlords and tenants using databases for the specific purpose of giving tenants better homes and protecting landlords from losing their investments. At LandlordReferencing.co.uk we have created a community of pro-active landlords and letting agents to simply protect one another from rent arrears, property damages, anti-social behaviour, illegal subletting, criminal activity, and so on. Furthermore, our live discussion forums encourage better understanding, communication and relationships between all parties involved in the renting process too – making us the fastest growing tenant referencing community right across the UK.

Related news topics:

BEWARE: Lettings Industry Tenant History Misrepresentation

Agents frustrated with ‘old hat’ tenant referencing protocol

Rise of Online Lettings – What Are You Actually Paying For?

Author: News Feed