Dealing With Bad Tenants Options

[GAD01]

Hi All

It has become apparant to me that one of the main things that we landlords are not in control of is receiving our payments from tenants. This can obviously depending on individual circumstances have a detremental effect on the future of our investments.

It has also suddenly come home to me that the laws in this country do not protect us, they are heavily weighted in favour of the Tenant, especially in terms of the time consuming and expensive steps that we are legally obliged to take to recover our money, or remove a tenant from our property. It seems crazy that a Tenant can leave one property owing money and easily go and rent somewhere else, and do the same thing all over again.

What I propose is that we start up some kind of shared list. If a landlord ends up with a tenant that is a bad payer, or leaves still owing money we add his/her name to the list. Is this something that you all feel is possible?