Relay Tester

Sounds like you are doing fine.
If they are plug in realys, build yourself a test box with a socket on it, a suitable load, LED indicator and push to test switch. Powered from mains or batteries.

Del

The general concept of such a tester depends on some questions which determ the requirements:
1. Is it a go/nogo test for incoming goods ?

2. Is it a fails per cycles test ?

3. Single pieces or higher volume?

4. Do you need protocoling ?

Even at higher volumes it is possible to build a simple tester with automatic measurement and protocol function as there are many cheap hardware solutions talking with EXCEL, par example, via RS232 or HPIB.

Your both methods are ok as they concider the two main failure conditions of relais:
(nearly) no load, which means very low voltage or current switched, and
(nearly) full load with maximum voltage/current switched.

For both measurements you should define a go/nogo border with some tolerance, the first one is the resistance, the second one the voltage drop under load conditions.

Hope that helps,
Regards Uwe

Any pocket continuity tester can do the job. These days, a basic multimeter can be had off-the-shelf from major home improvement outlet for less than £10GBP, including local taxes. It might prove a worthwhile investment?