Landlords are increasingly using a variety of tools at their disposal to check up on potential tenants before they offer them a tenancy agreement. A study by a leading home loans company has found that 11% of landlords use Facebook to screen would-be tenants before they let them move in.
“Buy-to-Let is a business, so it’s only natural that landlords would want to vet their potential tenants, just as an employer would a potential employee,” says Jeff Knight from Foundation Home Loans.
Many employers use social media to vet a prospective employee before offering them a job. Some also monitor their employees’ social media presence to ensure they are not bringing the brand into disrepute.
Red Flags
Since a lot of people post huge amounts of information online, it makes sense that social media is a prime source of information about a person’s spending habits and lifestyle choices. It stands to reason that a landlord might spot a few red flags if a person on a modest income frequently posts photos of expensive holidays and big-ticket purchases. It might also be cause for alarm if that person claims not to have pets, yet regularly posts photos of their dogs and cats.
The Landlord Vetting Process
Of course, social media is only one part of a tenant vetting process. 29% of landlords interview prospective tenants in person to help them decide whether the individual is a good choice. Credit checks, employer references, and previous landlord references are also invaluable tools.
Should I vet Tenants Using Social Media?
If you aren’t connected with someone on social media, then what you’ll see on their profiles is public information. This means you can access it freely and not be breaking any privacy laws. However, what you do with that information counts. Landlordtalking.com warns about the downsides of using social media to screen tenants. While you can find out more about your prospective tenants lifestyle, you could also learn more than you need to know for a tenant application. If anything you learn about your tenant influences the decision you make in offering them a tenancy then you could be getting into dangerous territory.
Would you, or have you used social media to screen your tenants? Share your stories in the comments.
Comments