Being a landlord or letting agent in charge of a range of properties can be a challenge at times. While there is a lot of money to be made from being a property investor who rents out homes, there are also many issues that can arise. One of the key ones for many landlords is problem tenants, and this can be a particular issue if the tenants skip town after causing issues.
Many landlords find that some of their problem tenants do a disappearing act without giving any notice on the property and without providing any contact or forwarding details. This then leaves landlords in the lurch if the tenant still owes them rental money or has caused extensive damage to the property. It also means that the landlord is then left trying to find a new tenant at the last minute because no notice to vacate was given. Well, one thing that many landlords can benefit from in these cases is to use skip tracing solutions.
More About Skip Tracing
So, what is skip tracing and how can it benefit landlords and letting agents? Well, this is a service that enables landlords to access a range of information that can make it far easier to trace and contact the tenant that has disappeared and skipped town. Skip tracing, as the name suggests, is a tool that enables users to trace people who have skipped town. This can make a big difference to the chances of success when it comes to resolving issues by contacting the tenant. Some of the reasons it is useful for landlords are:
Recouping Rental Debit
If a tenant skips town while owing substantial rental debt, it can leave landlords in a very difficult financial situation. In addition to the rent owed, the landlord is also left to deal with a vacant property for which no new tenant has been found because no notice was given on the tenancy. All of this can have a huge negative impact on finances. With skip tracing, landlords can get the current contact details and address of the tenant who has skipped town to recover the rental debt and the amount owed for the notice period.
Resolving Issues Relating to Damage
Another of the issues that landlords face is if the tenant skips town after causing a lot of costly damage to the property. The landlord is left to deal with the financial side of this, often paying huge amounts to have the repairs carried out. This can exceed any deposit that the landlord had from the tenant by a considerable sum. With skip tracing, landlords can contact the tenants to bill them for the cost of the repairs carried out.
Making Tracing Easier and Faster
One additional benefit for landlords is that this solution provides a fast and efficient means of getting the current contact details for tenants who have skipped town. This saves users a huge amount of time, stress, and hassle.
These are some of the reasons why skip tracing is a great solution for landlords.