Is renting the new buying?

This is a guest blog from Ryan J Shaw of the tracing service Finder Monkey.

More and more people seem to be deciding that the property ladder is not the high and mighty place it once was and are climbing down to make the move across to renting a property.

The lack of mortgages has pushed people into rented but it must be said that people seem to enjoy the freedom that renting a property can give a renter. Maybe you get a promotion? You can finish the term at one property and move to a bigger one in a relatively short space of time.

This of course is great news for property landlords as they are seeing demand for their properties increase. Initially people seemed to be disappointed that the mortgage companies were not prepared to lend the money for them to buy their own property, something which is highly regarded in this country more than the rest of Europe where renting is much more “the norm”.

The downside is that some renters do not view a contact with a landlord in the same regard as a contract with a mortgage company, this make landlords prone to errant tenants moving to pastures new whilst still owing rent at a previous property sometimes even damaging the property.

So what can be done to catch back up with these errant tenants?

Initially, a landlord should carry out a tenant verification check with a potential tenant and question them on the points that the check raises so that they feel comfortable handing over the keys.

Secondly, it is imperative to gather the relevant intelligence on the potential renter whilst the land lord still has the power; this is before the keys have been handed over. A landlord may be pretty desperate to get a tenant in and they may ignore the alarm bells that are going off because of the pressure of mortgage payments on an empty property but in the long run an absconded tenant will cost much more than the down time when a property is empty whilst looking for the right tenants.

From the point of view of a modern trace company who trace ethically and legally it is important for a landlord to supply the following information so they can find the absconded tenants new address quickly and discreetly.

• Full name
• Date of birth
• Last known address
• Partners name
• Any phone numbers
• Relatives addresses (parents for example)
• Middle name

This information will assist the trace company enormously. Remember that modern trace companies are moving away from the stereotype of the old trace company whose methods left a lot to be desired and gave the industry a bad reputation. The modern trace company works ethically and with integrity so it’s imperative that landlords have this information available to them.

Ryan Shaw of Finder Monkey

Finder Monkey is a new web-site which will  find ex tenants if they have left without paying their rent or have damaged your property. They also work on a no-find-no-fee basis, £35 only for a successful result. Supply them with all the information you have, such as the tenants full name, date of birth, tenants partners name(if known) and the last known address and an experienced tracer will then trace your absconded tenant to their current address. Findermonkey.co.uk is proud to say that they do all traces legally, ethically and with integrity.

No find no fee means you can order in confidence and find errant tenants with FinderMonkey