The ratbag tenant problem

It’s not just residential. It’s not just P cooks. It’s a fact of life (unfortunately) that there are ratbag tenants. Not many – but there are some.

Ultimately it is landlords  who have to deal with tenants who mistreat premises, and are consistently late in paying. Agents may find the tenant, and sign them up.But landlords then have a long term relationship with the tenant.

But there are answers. Possibly not the answers we might like, of having tenants respect our property, and pay their rent and outgoings on time.

The answer comes much earlier in the process – at the tenant selection process. Generally undesirable tenants are just moving from one landlord to another. And  I have never yet seen a leopard change it’s spots. It’s not 100% foolproof – but putting effort into considering the tenant, their background and their history, can often avoid major trauma later in the relationship.

And agents have a major part to play in this process. I recognize that the agent’s major incentive is to do a deal. But in that eagerness to do a deal, agents can do themselves dis-service. Matching the wrong tenant with a landlord can result in an immediate pay-day – but also a client who won’t be back for more. Conversely, the agent who looks after the landlord’s interests is likely to earn loyalty lasting longer than average.

Investigation into the potential tenant’s current premises and reputation are relatively minor services that the agent can perform for the landlord, but can expose major potential problems, and therefore are of major benefit to the landlord.