Landlords should undertake a pre-tenancy screening
Landlords should ensure that they carry out pre-tenancy checks on anyone that is moving into their property, according to an expert.
Tom Entwistle, editor of Landlordzone.co.uk, said that credit checks and referencing can help to protect landlords against late, partial or non-payment of rent.
Before agreeing landlord home insurance, proprietors should also look at rent guarantees or legal protection cover which offers extra peace of mind if fees are not paid on time.
“Not all landlords do these things, but it is becoming much more of a common practice with experienced landlords,” he noted.
Currently, landlords can take on tenants under the government’s Rent a Room scheme, where they can receive up to £4,250 a year tax-free.
This optional initiative is based on gross income, before taking away any expenses.
The scheme is also open to those who share a home and both choose to let a room out, with the tax-free amount being cut to £2,125 each.
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