Selecting the right tenant can save a long, costly eviction process further down the line, and that is why it is so important that buy-to-let landlords do their homework, seek expert advice and ultimately reference their tenants properly.
Historically, landlords have relied on employer references, the electoral roll and credit checks to verify prospective tenants interested in their properties. But now landlords can further reduce the risk of rent arrears and other problems by carrying out a check on their prospective tenants by using new social profiling technology, enabling a landlord to ‘get to know’ a tenant before making a decision to rent their properties to them.
The tool enables landlords to learn more about their potential tenants by analysing the data from their social media profiles, with their consent. This in theory should help landlords avoid costly wrong decisions resulting in missed rent or damage to their property.
The innovative technology, provided by Tenant Assured, will offer landlords with invaluable detailed insights into their tenant’s personalities and behaviours.
Ben Stubbs, managing director of Score Assured, the creator of the Tenant Assured solution, said: “We can help landlords determine the potential problem tenants and help the good ones secure the property they really want.
“The insights we are able to collect with the consent of the tenant will protect landlords from costs involved in collecting rent arrears, evictions or repairing damage to their property. And with a soaring rental market, it means good tenants, who give their consent to our social profile, have a better chance of getting past the front door of desirable properties, as opposed to relying on first impressions.
“Currently landlords rely on third parties to pull together traditional checks such as electoral roll, credit history and driving licence databases. Our product can add another layer of security to this by helping landlords get to know their prospective tenants so much better.”
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