Discover the most common lies on a tenancy application
Are you currently marketing a property for rent, trying to find a suitable tenant? Read this article to discover the most common lies a tenant tells on a referencing application.
When you have a vacant property, it is a cost to you, not an asset. You are not earning any rental income from that property, so many landlords can feel frustrated and push for a new tenant as quickly as possible.
In the current rental market, there is a considerable imbalance between the supply and the demand - there are many more tenants than properties. This intense competition can have a negative impact on tenants that are literally fighting for a property. Many are being forced into moving against their will because, quite frankly, why would you enter this fractious process when there are not enough properties to go around unless you really had to?
As a result, it's possible that the truth may be bent a little here and there on an application to try to secure the tenancy. A recent study by Comparethemarket showed that some tenants are more likely to lie on their applications than others. Younger tenants were more likely to be dishonest in their applications than older tenants, and these are the areas that they are likely to lie about:
- The most common was smoking status.
- Next up was mistruths about employment status.
- Finally, hidden pets were another significant finding.
But what does this mean? Is it important? Should you be worried? Ask for evidence of whether your prospective tenant smokes occasionally or not.
The answer is no, not really.
Suppose you have an application from a tenant, and they have said they are non-smokers when they do partake in the odd cigarette. In that case, you can simply ensure that your tenancy agreement prohibits smoking inside the property.
If you have an application from a tenant that has massaged their employment status to make themselves seem like a better prospect, the evidence that will be supplied by their employer will soon show the truth.
If your prospective tenant has a hidden pet, the tenancy agreement will protect you as the landlord and, ultimately, the property. But ask yourself, would you be upset if the tenant had a pet? What if they lived in the property for a few years and got a pet? The landlord regulations say you can not unreasonably refuse a tenant to have a pet. If this application was otherwise perfect for you and your property, would it be such a bad thing?
My guess is no. If the tenant is right for you and your property, they will likely be responsible pet owners too. Perhaps you could be a little more open with prospective or current tenants so that you are not gatekeeping your property, and they will be more inclined to be truthful and honest with you.
After all, it is improbable that all young tenants intentionally lie on their application forms. It's more likely that finding a home has become necessary in the face of such intense competition.
If you intend to rent a property out soon or are struggling to rent your property out on your own, get in touch with our highly experienced letting professionals to manage your tenant-finding process. They will help you select the best prospect for you and handle the referencing process so that you get a clear view of exactly who your potential tenants are and how they will live in your property.