11:48 AM, 8th March 2023, About 9 months ago
A bad tenant could cost you thousands but how do you spot the bad ones?
There are so many stories I read every day of a tenant who trashed a landlord’s property, leaving the landlord to pick up the tab.
Perhaps you’ve even had a tenant who appeared polite and passed all the credit checks, only to turn into the tenant from hell. They’ve stopped paying their rent, become rude and even abusive and yet still demand everything to be fixed and maintained while refusing to leave the property!
Or maybe the tenant paid their rent on time and has always been responsive to emails and phone calls, but when you get your property back 2 years later, you realise your tenant was a hoarder and you can hardly get through the door for all the rubbish and discarded clutter that you now need to clear up.
It’s now more important than ever to pick the right tenant. They can make or break your property business.
With the proposed Renters Reform bill, things could get even harder for landlords.
Even if you use a letting agent there are plenty of things you can do to ensure your tenants are good ones.
But there is a bright side! Rents are rising, tenant demand is at an all-time high and for those landlords that get it right, it’s still an incredible business to be in!
As the founder of Alphaletz, I’ve also been a portfolio landlord for over 30 years and it’s probably fair to say that I’ve got my fair share of war stories too!
I wrote this blog to help other landlords spot the red flags early and I’m even hosting a free webinar on the 21st March to talk about the Renters Reform Bill.
In this blog I’m giving away loads of free resources to help other landlords too, like a Tenant Application Form to pre-screen prospective tenants, a Tenant Welcome Pack to set expectations upfront, a Property Inspection Checklist and even free access to the Alphaletz Property Management software system to help other landlords stay organised and track everything!