protection against non-payment by tenants?
Discussion
Hi there,
I have a second property that I rent out to tenants. The current tenant is moving out in the next two months and I will be advertising the flat again. I only let the property to ‘professional’ tenants i.e. no students or DSS as I want to minimise the risk of disturbing the neighbouring residents and also the risk of non-payment and/or damage to the property. Whilst I can check references and always use a solicitor to check everything and draw up the tenancy agreement is there anything I can do to protect myself against non-payment by a tenant? I don’t have a massive mortgage on the property but if the tenant didn’t pay for 6 months then my savings would take a hit.
All the best.
I have a second property that I rent out to tenants. The current tenant is moving out in the next two months and I will be advertising the flat again. I only let the property to ‘professional’ tenants i.e. no students or DSS as I want to minimise the risk of disturbing the neighbouring residents and also the risk of non-payment and/or damage to the property. Whilst I can check references and always use a solicitor to check everything and draw up the tenancy agreement is there anything I can do to protect myself against non-payment by a tenant? I don’t have a massive mortgage on the property but if the tenant didn’t pay for 6 months then my savings would take a hit.
All the best.
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