As a buy-to-let landlord, you will understand how difficult it can be to find suitable tenants to let your property.
After going through the necessary referencing, Right to Rent and other checks, you have done all you can to try and find the right people to reside in your investment home.
However, private rental accommodation remains a common target for illegal activity and you must be vigilant.
There are common crimes that you could well experience in your property. Follow these tips to both prevent and deal with these issues!
Subletting-This is a growing problem, but may not necessarily be illegal, unless it occurs without your knowledge or consent. Problems occur when increasing rental costs for unwitting sub-tenants. In addition, this could breach your buy-to-let mortgage terms and could well render a home insurance policy invalid. As such, taking out landlord home insurance.
Fraud-It is imperative for landlords to be vigilant when assessing would-be tenants. Make thorough background checks and take references. If you do not have time to do this yourself, get the help of a reputable letting agent. It can be very stressful should you fall victim of identity theft or fraud and previous tenants who are still having mail sent to your property are at risk. As such, remind your outgoing tenants to get their mail sent to their new address.
Anti-Social Behaviour-There are fine margins as to what is classed as anti-social behaviour, but commonly, this includes things such as violence, threats, harassment, verbal abuse, dumping rubbish and vandalism. Sadly, due to not all landlords being bound to mandatory licensing schemes, there is little in the way of resolving this issue, apart from eviction. To avoid this unsavoury process, thoroughly brief your tenants when they move in, so they have a sound knowledge of what is expected of them.
Drugs-Privately rented properties are often targeted by drug dealers or cultivators. Alongside its criminal connotations, there can be considerable costs in order to repair damage, which could lower your property’s value. Some tell-tale signs include blacked-out windows, drawn-curtains, heating constantly being left on and suspicious smells. The threat of drugs is one of many reasons why conducting regular inspections of your rental property is vitally important.