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Saturday, March 02, 2013

Landlords Trust Gut Instincts

Being a landlord is a people business.  You need to be able to work with tenants, letting agents, contractors to get the job done.  So many of us make important decisions based on our gut feelings about them.

It comes as no surprise that a recent survey by BDRC reveals that almost three quarters of landlords still choose a tenant based on gut instinct.  Is this good practice?  With any decision involving people you will often need to make snap decisions based on initial impressions.  However, you should always back up initial impressions with referencing your tenant and possibly their guarantor fully.  Initial impressions can say a lot about a tenant but they can also be misleading.  Not all squeaky clean looking professionals will make the perfect tenant.  Some are very plausible looking scammers, so make sure that you reference them fully!

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