Problems Renting

socrates

No one gets their hands on the money in TDS - and if the guarantor is not on enough money you will not get through Homelet

luckylooloo

My guarantor does earn enough money,so i should have no probs.There is no way i would put my money in anything run by this government

orangeslimes

I agree about paying 6 months money up front- what if the house gets repossessed/there are serious problems with it. There was a company when I went Uni who rented out (luxury) student accomodation and when bust a little into the year and apparently some people had paid the years rent up front- and then had nowhere to live! I am not sure how the fiasco ended or if they got the money back- but not the sort of situation you want to end up in.

socrates

orangeslimes wrote: »

I agree about paying 6 months money up front- what if the house gets repossessed/there are serious problems with it. There was a company when I went Uni who rented out (luxury) student accomodation and when bust a little into the year and apparently some people had paid the years rent up front- and then had nowhere to live! I am not sure how the fiasco ended or if they got the money back- but not the sort of situation you want to end up in.

Thats why the TDS option has been put forward

silvercar

luckylooloo wrote: »

Land lords have been know to dissapear with money,not mine,if they cant trust me why should i trust them.

:rotfl: :rotfl:

Because they are trusting you with an asset worth £100k+. You could trash the place and do thousands of pounds worth of damage and yet you want them to trust you with a blotted credit record, no proof of address, no bank reference, no employer and you don't work.

luckylooloo

i maynot work but my OH works 12 hours a day 6 days a week are you telling me that as i have a bad credit rating that i am scum and would trash someones house.I have no proof of address in the UK because i lived in spain for seven years giving my kids a better standard of life away from small minded people like you.

pawpurrs

Good Luck with that then.......

Geenie

luckylooloo wrote: »

The annoying thing about all of this is that we have rented in the uk and spain for years and never been late with rent never been evicted,always been perfect tenants,my OH profession is one were you can always make a good living with no chance of losing his job.A guarantor seem like the way to go,funny thing is she earns less then us.There is no way i am handing over nearly 10k in rent to a total stranger in advanced rent,i may have bad credit but i am not an idiot.

Yet you expect a LL to hand over a house to you worth, £100,000 / £200,000, on the basis that you claim you have never not paid your rent?!!!!

I don't think you can complain about LL's being just as picky as you when it comes to releasing their assets to unknowns I'm afraid. As a private LL I always do credit checks and references now, and though a guarantor is very good, I would rather chose someone who had a record where it wasn't needed if given the option.

But I am sure if you keep looking something will come along eventually, especially if you have a friend willing to be a guarantor.

luckylooloo

How can you tell if someone will be a good tenant and pay on time from a credit check,what kind of ref do you require when checking a tenant.Would you except ref from another EU country.I am not complaining about LL i just wanted some practical answers to my problem.
My parents let out their flat had all the checks done through a local well thought of agent.When i went to check the flat after they had left it was wrecked.Credit checks and ref did them no good.

kunekune

What's the problem with paying rent in advance?

Well, basically, unless you have managed to set it up so that the money is held on trust and the LL doesn't get to 'own' it until the rent is due, once you have paid the money over, the LL owes the money to you. That's fine so long as you go on living there. Each month, they owe you a little less. But if it goes wrong, eg, you have to move because the house has fallen down or is unsafe or the LL is repossessed and turns out not to have had a BTL mortgage, you have a problem. In terms of contract law, you have a valid claim to your money back. But having a claim isn't the same thing as actually getting it paid back. You are 'just another creditor'. Let's imagine that the LL does not have enough money to pay all their debts - which in this scenario is quite likely - and they end up bankrupt. Anyone with a secured debt - sorry, not you - gets first dibs. What's left, is shared between the rest. You might get 50p of each pound you're owed. Or less. Possibly nothing. Unless it's a trust (so that it isn't part of the LL's own assets), no-one should pay 6 months rent in advance without having very good information about the financial and legal position of their LL.