Assessing Tenants

Depending on the type of investment property you have purchased, different types of tenant will be appropriate to rent to. In order to ensure that you get the most suitable tenant possible, careful screening and selection is always essential. Your agent should be able to advise you, but this simple ibuytolet guide runs through the basics of the tenant screening process for the buy to let landlord.

Obviously a certain amount of common sense and discretion is necessary depending on the property type and location. Many landlords let their agents handle the vast majority of this process, but some will prefer a more hands-on approach where they get to have a personal decision on who rents their house. Usually, the following stages are involved in the tenant screening process: 

• Deciding on a target market
• Advertising your property in an appropriate location
• Initial contact with tenant (usually by telephone)
• Personal contact and viewing (Initial subjective assessment)
• Tenancy Application Form – tenant identification and information
• Identity Document checks (keep record in order to trace tenant if he/she leaves with no forwarding address)
• Verification process:
  • Credit Checks
  • References
  • Previous Landlords
  • Bank
  • Employer
  • Character
  • Guarantor

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