Landlords Are Encouraged to Check Tenant’s Legal Status

UK’s major estate agency, Young’s, has published a list of 10 tips for landlords who are new to the buy to let sector and for experienced landlords who fear that the level of rental arrears might increase. Young’s suggests that landlords check the financial status and legal status in the United Kingdom of their prospective tenants before renting out a house or a flat. Young’s says that the best way to ensure that a tenant can afford renting a particular house or flat is to ask for a confirmation of his/her financial status by providing a at least one bank statement (last three is preferable). This is supposed to give landlord a guarantee of tenant’s employment and his ability to pay all rent fees. Given that over the years Great Britain has become a place for migrants from other European Countries and immigrants from all over the world, landlords are strongly encouraged to check the legal status of prospective tenants. Landlord should ask for a photocopy of the tenant’s passport or visa, when it is applicable, to make sure that the tenant will have a legal right to reside in the rented property for the whole duration of lease. Experts say that suddenly breaking the contract with a tenant who no longer has right to legally stay in the country is very cumbersome. Also, Young’s suggests that landlords check the electoral roll in order to confirm all the addresses where the tenant is said to reside over the past years.