Finding it very difficult to let at the moment

ILW

i4U wrote: »

Hello All,

I have finally found a tenant, through Gumtree. As always there is a small issue, and it seems like he is being honest about it, at the same time it concerns me. My agreement with him is a months deposit and rent in advance (monthly). He says he can pay the deposit in 4 installments. To start with he has paid me one deposit so that I don't let it out to anyone else. He says that he would rather be honest about his finances than have issues with me later. I am not sure. But anyway, I would like to hear the thoughts of people on this forum.

Secondly, does anyone have good tenancy agreement I could use as a template. I could PM you my email.

Thank you.

I would be pretty worried. If he cannot come up with £500 for a deposit I think you may very well have problems in the future. The real hassle is when he pays you nothing and it then takes months to get him out while you are receiving no income. Can you afford that situation?

lostinrates

i4U wrote: »

Secondly, does anyone have good tenancy agreement I could use as a template. I could PM you my email.

Thank you.

why would you take a tenancy agreement from someone on a forum who you don't know?:eek:

Did you have a tenancy agreement for last tenants you can use?

Catblue

I'd be concerned about him being unable to pay the deposit. If he can't afford the deposit, then how can he afford to pay rent plus the remainder of the deposit for the first three months?

Bit worrying that he can't borrow from a friend or family or pay with a credit card. Even if he does eventually clear the deposit but then gets into difficulty with his rent later on, it seems evident that he can't get money from anywhere else to help him with the arrears.

Maybe the only reason he is being "honest" with you is that you would immediately notice when he presented you with only a quarter of the deposit. :rolleyes:

I always have alarm bells ringing when people say that they are being honest.

i4U

Your both right. After putting the post up. I had further conversations with him to find out more and have decided not go ahead with him. I will tell you more later. But, what I am realising as I am getting older is to go with my gut instinct.

socrates

i4U wrote: »

Your both right. After putting the post up. I had further conversations with him to find out more and have decided not go ahead with him. I will tell you more later. But, what I am realising as I am getting older is to go with my gut instinct.

Did you try Newham like I suggested?

GDB2222

My impression is that the London rental market is very patchy at the moment. I have a converted flat above my old office in north London, two bedrooms, that has just relet at £195 per week. A larger, purpose-built flat in Muswell hill was empty for two months earlier this year at the same rent. it just seems to be the luck of the draw.

i4U

Socrates, I did not. However, I will do it. I have just had a lot on. However, the council seems definitely worth investigating for me.

Now back to the situation about this guy. A lot did not add up. His income wasn't sufficient to cover my rent, bills plus support his wife and child. Secondly, things about his past did not add up. He was doing two jobs. Plus he was only 22, but he had an estate agent business in the past and gone to uni ete etc. Things he was saying was ringing alarm bells in my head. That's why I like posting things here, because it allows me to sanity check things and get second opinions. So thank you to all. I suppose, the fact that this property not letting quickly is holding me back from other areas of my life. I actually bought this 4 years ago to live, but never did.

socrates

i4U wrote: »

Socrates, I did not. However, I will do it. I have just had a lot on. However, the council seems definitely worth investigating for me.

Now back to the situation about this guy. A lot did not add up. His income wasn't sufficient to cover my rent, bills plus support his wife and child. Secondly, things about his past did not add up. He was doing two jobs. Plus he was only 22, but he had an estate agent business in the past and gone to uni ete etc. Things he was saying was ringing alarm bells in my head. That's why I like posting things here, because it allows me to sanity check things and get second opinions. So thank you to all. I suppose, the fact that this property not letting quickly is holding me back from other areas of my life. I actually bought this 4 years ago to live, but never did.

Yes - lets get back to the situation of the guy you are not choosing - and talk about that - AGAIN

i4U

:rolleyes: - do you seriously want to know more.

socrates

i4U wrote: »

:rolleyes: - do you seriously want to know more.

Desperately....