Tenants often your best recruiters

I've arrived back from my little Asia trip to be greeted with an email from one of my tenants telling me that they want to move out. Damm!!! I was fully let and was hoping to keep it this way.

However, all is not lost. In the email the tenant mentions that they have a friend that is interested in renting my flat.

This would not be the first time I've been able to relet a property by renting it out to a friend of the original tenant. I've spoken to the guy and he seems on the face of it a reasonable prospect.

He's working and been employed for a couple of years along with being renting from the same landlord for 4 years. He's looking for a long-term let which is perfect for me. I mentioned straight away that I will need to credit check him and also see copies of his last 6 month bank statements. He seems perfectly fine with this so this is a good sign.

The great thing from my part is that by letting through an introduction in this way I'm avoiding having to spend out on employing a letting agent saving myself a couple of hundred quid, together with the time and inconvenience of marketing the rental property. Even better the new tenant want's to move straight in after my existing tenant moves out. Sounds too good to be true?

I hope not.....

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