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Mortgages Direct uk is a licensed Mortgage Broker We have access to the whole of the buy to let mortgage market and will identify the most suitable mortgage product for you. More >>>

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Buy to let tenancies

One of the principal concerns for the new landlord is what will happen if there are problems with the tenant.

Try to avoid problems by carefully vetting the prospective tenants.

If your current tenant is moving out, ask if they can recommend anyone. 

You could employ a letting agent either as a tenant finder or on the basis that they will find tenants and manage the property. The letting agent should have experience of the selection and vetting of tenants. 

Before you appoint a particular letting agent, check that they are a member of a professional body that requires certain standards of  their members (for example Association of Residential Letting Agents)

If you opt for the full property management option, ask the Letting Agent what will be their procedure in the event of non payment of rent. You may wish to be informed of any problems at an early stage.

If you choose to manage the property yourself then it is important to take up references. These could be:

  1. Previous address references
  2. Bank references
  3. Credit references
  4. Employers references

A useful aid is Tenant Verifier offered by Experian. Experian are one of the main credit reference agencies in the UK.

'Tenant Verifier' speeds up the pre-screening process by conducting address verification, credit checks and obtaining relevant references automatically.

'Tenant Verifier' allows you to tailor your pre-screening requirements, depending on the degree of detail you require.

Financial reports and full reports with employer and previous landlord references are available using 'Tenant Verifier'.

Do not release the keys until the first months rent has been paid together with the deposit and direct debit agreement

An assured shorthold tenancy agreement should be carefully drawn up to include clauses to protect you against problem areas. The advice of an experienced letting agent would be useful in this respect. The agreement should be signed by both parties. Remember, this document will need to be produced if you have to take legal proceedings against the tenant.

If you experience problems with your tenant, and you wish them to leave, then you should issue them with written notice to vacate (Keep a copy of this notice). You will need to have a valid reason for evicting the tenant such as non payment of rent. 

If the tenants do not leave, then you have several legal options, one of these is 'accelerated possession procedure'. This is judged on paperwork submitted by both sides. If you are successful, the court will give the tenant a date by which they should leave. If the tenant does not leave then an eviction warrant is issued and the bailiffs instructed.

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