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Bad tenants are on the increase!

Bad tenants are on the increase!

Do you manage your own property? If yes, then when was the last time you visited it. Are you sure your tenant is taking care of your property?

 It would seem regular visits are now more important than ever as the Chairman of the AIIC (Association of  Independent Inventory Clerks), Pat Barber, says: ‘We are seeing a rise in the number of bad tenants and have been shocked by the damage and neglect we have found in properties and their grounds.”

 It is vital that landlords carry out regular checks. Properties managed by Martin  & Co Oxford are visited 3 times during a tenancy. The first visit takes place about a month after the tenant moves in. If we do find a problem, we ask the tenant to address it and we then revisit the property to make sure the issue has been rectified.

 The warning is out there for all landlords who think that as long as the rent is paid on time, and they don't hear from the tenant, then all is fine. Well, you could be in for a shock.

 Whether you think you have good tenants or not, whether they pay rent on time or not, and whether your tenant leaves you in peace, do not put off regular inspections of your rented property. And under no circumstances allow the tenant to carry out any repairs. Most people know nothing, or very little, about maintenance and the outcome of their DIY "skills"could prove very costly to put right.

 It is also worth noting that even if everything is perfect right now it may change. Martin & Co Oxford had a recent situation we would like to share with you. One of our landlords told us we had found him "perfect tenants".  However, towards the end of the tenancy their financial situation changed for the worse.  This was picked up by our Tenant Monitoring Service - free to all our landlords and unique in the lettings industry. We were able to alert the landlord and step in. We came up with a solution whereby the tenants were able to pay their last 2 months rent in full, saving the landlord, what could have been, a substantial loss.

 If you want to know more about how Martin & Co Oxford find good tenants, reference them, and then monitor them while they are living in your property, then give us a call on 01865812110