First step on the ladder
Recently announced research by property consultant Garrington has indicated that the number of enquiries looking to rent a room in a house has doubled over the past year.
This is quite a staggering figure and highlights developing trends in the housing market. It obviously points to the fact that more and more people are struggling to actually get on the first step of the housing ladder. This in turn could also point to the fact that people are struggling financially to be able to afford rent repayments or a mortgage and have had to downsize to somewhere they can afford.
These facts should raise alarm bells for estate agents. The last thing any successful letting agent should do is to rent a room or property to someone who can’t afford to make the monthly payments. Any property that is being rented out by a letting agent but which they receive no payment for is a wasted resource. They would obviously be better off renting the property to someone with a good steady income and with no track record of financial difficulty.
The best way to confirm whether a potential tenant is likely to meet monthly repayments is to carry out a range of background checks such as those available from People Checking. Our range of credit checks and employment checks will quickly verify whether someone has any record of financial difficulty and whether they are in stable, long-term employment. This small initial outlay is more than worth it if you can virtually guarantee receiving rent payments for the duration that they remain a tenant.
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