It’s a simple truth but to be an effective landlord and successfully let your properties, you need to be a stickler for detail and committed to clarifying every piece of information submitted. Otherwise you could end up in a vicious circle of unreliable tenants occupying your premises which brings its own set of complications.
One rule – all information and data submitted must be verifiable. This means checking pervious landlords, addresses, employment, career history, criminal declarations, in fact, any statement made and signed on the application to rent your property. Make it clear that as a responsible landlord, applications will be immediately discounted if any false information has been knowingly submitted or misrepresented.
People can be fickle – applications may be modified, enhanced or vital details omitted in order to facilitate a rental application and end up with a roof over their head. Watch out especially for prospective tenants lying about where they live or have lived, their job or previous career, how much their salary is or has been and whether they have bona fide qualifications. They may even lie about family and friends. Once they have secured a property, they will be unreliable payers, unscrupulous about guests, regulations, activities and the landlord will ultimately pay a hefty price for his lack of investigation and fact-checking.
It’s a common problem - every landlord knows that bad tenants lie, which makes it a mystery why so little verification goes on at the stage of a rental application. It could be a combination of not having time, energy, resources or even the inclination if a hard to shift property is about to be signed off and the mortgage payment is looming.
