A Guide for Tenants Looking for Homes to Rent in the Private Rented Sector from Landlords and Letting Agents
Synopsis: David Lawrenson, owner of private rented sector consultancy www.LettingFocus.com explains how tenants can jump the queue and get the best rental properties simply by getting organised. He also highlights how they can avoid becoming victims of “fictitious lettings frauds.”
This week, I thought I would give something back to the “community of tenants” by writing a short piece on how tenants could really help themselves secure a nice home in the private rented sector.
You see us old time landords and letting agents can spot a perfect tenant a mile off.
They are the ones who turn up for their viewings on time (or, if they are late they call to let you know if they have been let down by traffic jams or public transport delays.)
They will still make the appointment even if the weather is awful because they know that lots of other applicants won’t bother if it’s wet, snowing or freezing. They know that just by showing up, they will get a head start over other applicants.
If they don’t speak English very well they bring a good translator with them.
They don’t need to ring to ask for directions as they have already downloaded a map before they set out. (I always reject anyone who rings more than once for directions because if they can’t be bothered to have a map with them, they probably won’t be able to change a light bulb, let alone manage a tenancy.)
Finding Property in the PRS
But when they really like the place, that’s when these tenant applicants come into their own because the really smart ones know what landlords and letting agents want to see.
So they always bring with them, their passport or driving license (proof of ID.) They can also show you recent bank statements to show you that they are solvent and that money is coming in from a job or jobs. If their address is not shown on the bank statement, they will bring a recent utility bill which shows their address instead.
They will bring a reference from a current and / or previous landlord.
If they are about to start work they bring their contract of employment with them, or if in work already, they will bring a statement from an employer stating their salary.
Really smart ones will have already downloaded a credit report check (which is free from lots of service providers) and will show that to a landlord or letting agent too. And if their credit report is not perfect they will be happy to explain why.
If they need a guarantor (common in the student and Housing Benefit LHA markets), they bring the guarantor details along.
So why is this so smart of these applicants?
Well, for letting agents and landlords, time is money. Tenants have to understand that we hate spending time doing viewings (which is often at unsocial times in the evenings or weekends) when we’d rather be at home or out having a few drinks.
We want to be doing something else!
So if a prospective tenant can show me a load of documents and references that looks good, I know I have a tenant standing in front of me who can probably pay the rent and who is solvent.
I can then stop doing viewings and get back to doing things I like.
Checking References
OK, I still need to check and validate the references and do other background checks before I can let, but this kind of information, means I am halfway there already.
Unfortunately, the proportion of tenants who bother to bring this information is less than 1 in 20, in my experience.
It’s such a waste because getting a property in the private rented sector should be simple, especially if you have a good track record, an income and can prove you are who you say you are.
A Warning About Fraud
A final tip and warning for tenants and landlords.
Unfortunately, with rising rents in the private rented sector, fraud is growing.
A typical and widespread fraud is where someone other than the landlord somehow gets hold of keys and conducts viewings, taking rent and deposits from would-be tenants before disappearing with the money.
So, check out the letting agent or landlord on line. Does the agent really exist? Do they have an office or, for online agents, are they listed at Companies House?
If they are a private landlord, unless the property was recently purchased they should be listed on the Land Registry as owner of the property (it costs just £4 to check this.) Also, tenants should ask for evidence that they are who they say they are – a driving license and / or a utility bill proving ownership, perhaps?
If the property looks too good to be true, and if the “landlord” or “agent” is only interested in taking cash and has no interest in the applicant or in checking them out, alarm bells should be ringing.
Some private landlords may be surprised by requests to prove their ID, but any decent landlord will be more than happy to prove his identity if an applicant explains that they have been a victim of a “fictitious letting fraud” in the past.
MORE ABOUT LETTINGFOCUS AND WHAT WE DO
LettingFocus.com is the home of Private Rented Sector Advice and consultancy.
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We also help landlords and property investors by showing how to make money in the private rented sector using ways which are fair to tenants and which involve minimal risk to the investor.
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