Dangers of not doing an 'affordability test' on potential customers?
A pedantic customer of mine [ a friend of a smashing customer] has recently sacked his Letting Agent & is going it alone. He consulted me for the usual marketing-work/advice/guidance in readiness for letting. He's astounded me by refusing my 'outdated' advice to test solvency/affordability...because everything's on line nowadays...out in the open, etc.
I've tried explaining this perfectly valid exercise [ 6 months current account, NI number,Landlord refs, employer confirmation, credit- checking, etc is at the heart of potential tnt vetting...& got nowhere fast. He's been 'out' with the potentials & think gone 'native' & lost his sense of proportion. This type of LL deffo needs an Agent!
Or a dose of common- sense.
I'm ansty that if the wheel comes off the trolley, my excellent client will ask me to step in to help solve the situation when the tnts renege on their rent because they can, or because they've sussed out this guys inability to act in a professional capacity.
Anyone got compelling reasons[beyond the obvious]why these systems of validation are so vital. The 3 potentials are endearing, attractive & alluring.... say ne morrrre; did someone just say?