On the first ever
Letting Essentials Course we learnt from Simon Bennett of
Springfield Associates what the 10 essential pieces of information that a landlord needs are if a tracing agent is going to be able to find a tenant who has disappeared. They are surprisingly straightforward, but having these bits at information at the start of the tenancy could give you up to a 75% of your tenant being traced if they abandon your property compared to the figure of only 9% success rate for debt recovery in the courts.
The information he suggest that are needed are:
- FULL name including all middle names
- Correct date of birth
- Last known address
- Last permanent address
- Family address
- Partners FULL name
- Partners last known address and permanent address
- Family address
- Phtographic ID - driving licence, Home Office ID card, Passport
- National Insurance number
How many of these do you obtain from your tenants before handing them the keys? Tracing costs start from £75 but be warned finding a penniless tenant can be less than useless if you want your money back...unless you have a solvent
tenant guarantor in place.
Worth thinking about.....
Landlord insurance - expert brokers - professional rates
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