What is Insurance?

Our insurance scheme means you paid to join mydeposits
and also pay a protection fee that lets you hold the deposit
in your bank account.

If this is how you protect deposits login here

Member LOGIN

What is Custodial?

Our custodial scheme means that you joined mydeposits
for free and transfer the deposit money to us to hold.

If this is how you protect your deposits, then use:

Landlord login or Business login

Landlord LOGIN Business LOGIN

Get all the latest news to your inbox

Get all the latest news to your inbox

August 31

by mydeposits
Importance of reference checks – check, check and check again

As a landlord, your property is a major asset and so it is important to take as many precautions as possible to ensure that renting it out is problem free.

One of the best ways to protect your property is by referencing and background checking your tenants. This can help to avoid any surprises down the line such as non-payment of rent and helps you to build up an understanding of what your potential tenant is like.

Adequately referencing your tenants helps you to confirm that the tenant is who they say they are, can afford to pay the rent and has the right to rent in the first place.

For many landlords avoiding a void period in their property is important and can, therefore, lead to renting to the wrong tenant for a quick fix. Taking your time to assess a tenant’s suitability could help to save you time and money in the long term.

Even if referencing potential tenants there is no way to be sure that the tenancy will not encounter any issues. However, by taking the step to reference and background check your tenants you are undoubtedly minimising that risk.

Paul Shamplina, brand ambassador for Hamilton Fraser and founder of Landlord Action, tenant eviction specialist, offers some expert advice on conducting thorough checks with tenants and discusses two recent examples where landlords were forced to evict their tenants due to fake referencing.  One case involved a tenant advising they were working as an accountant only for it to be discovered that they were actually on work experience!

To avoid finding yourself in a similar situation, read the 10 key checks that Paul recommends to landlords in his full blog here.

This website uses cookies to ensure you get the best experience More info