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26/02/2009
Landlords taking 'unnecessary risks' |
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By not properly vetting their tenants, it has been claimed that almost one in three landlords is taking a needless risk.
New statistics have revealed that 32 per cent of property owners have not bothered to carry out a background check on their tenants.
Furthermore, 22 per cent said that they only do so occasionally, which suggests that more than half of all tenants could be renting a property without being checked by their landlord.
Paragon Mortgages' managing director John Heron says that detailed tenant assessments should be part of a landlord's "everyday business plan".
He added: "Landlords would not buy a property without making the necessary checks, so why would they let somebody rent a property without carrying out a comprehensive assessment first?"
Meanwhile, insurer Norwich Union recently revealed that it had to settle around 60 residential claims totalling over £1 million in 2007 for claims related to properties being used for cannabis farming.
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