When you've found your tenant . . .

Tenant Checks

Choosing A Tenant: Top Tips -

• Don't rely on a bank reference. Banks can be reluctant to give negative information about their customers.
• Make sure the previous landlords are genuine. Ask to see a utility bill for the address with your prospect's name on.
• You may get a glowing reference from a current landlord who can't wait to get rid of the tenant, so think about contacting the landlord before last.
• No history? For students, those in their first job or migrant workers always ask for a guarantor, but make sure you submit the guarantor to the same stringent verification and referencing process.
• If your tenant is self-employed, ask for references from his/her customers.

Tenancy Deposits

As part of the Housing Act 2004, the Government is introducing tenancy deposit protection for all assured shorthold tenancies (ASTs) in England and Wales where a deposit is taken. All deposits paid under an AST have had to be protected within 14 calendar days of receipt by the landlord.

The legislation aims to ensure that tenants who have paid a deposit to a landlord or letting agent and are entitled to receive all or part of it back at the end of that tenancy, actually get it.

The legislation covers virtually all new AST contracts through which private landlords let property in England and Wales. However, the following will not need to be registered with a tenancy deposit protection scheme:

• resident landlords (those living in the property)
• landlords of properties with rent of over £25,000 a year
• company lets
• student accommodation let directly by universities or colleges.

The return of a deposit at the end of a tenancy is by no means guaranteed. The new tenancy deposit protection schemes are working to ensure that deposits are returned on a fair basis to tenants, which is in every landlord and tenant's interests.

Tenancy Agreements