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Landlord Advice

26 January 2016

While the majority of Britain’s estimated 8.3 million tenants are responsible renters, this isn’t true for all tenants. Almost 60% of tenants we asked* admitted to breaking the terms of their rental agreement, yet only 38% of landlords carry out basic checks on their tenants. With more and more people increasingly choosing to rent, it’s important you take the right steps to protect your investment.

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A quarter of tenants admit to paying their rent late and 10% admit to having damaged or stained something and tried to hide it? While these tenants remain in the minority, there’s only one sure-fire way to protect your buy-to-let investment: tenant screening.

Screening potential tenants helps to protect your property and reduces rental income losses. Despite this, our research* suggests that only one third of landlords check new tenants’ bank statements or credit histories, and only 5% carry out criminal record checks. Landlord insurance can help cover accidental damage to your property or loss of rental income, but prevention is the best approach.

*Research was carried out online in June 2014. The sample was 2,000 people who are currently renting property in the UK. All regions of the UK were represented in the sample.