Renting to DSS

socrates

clutton wrote: »

""I contemplated this but I was told the by Benefits Officer and her (stroppy cow) Manager - that this was "not allowed".

Anyone can open a bank account jointly with someone else.


When tenants complete their HB/LHA application forms and fill in the bank account details where the benefit goes to - it does not ask for a name of the account, just the account number and sort code.

I know anyone can open an account jointly with someone else - I would be interested if you mentioned it to the benefits officer if they would accept tit.

The concern from silvercar - if its a no overdraft account with no cheque book - its ok - but some tenants are clever and will apply for credit cards and loans at a later date especially as the account will run very smoothly - overall no a very good idea and not yet sure if its officially acceptable

clutton_2

""if its a no overdraft account with no cheque book - its ok""

exactly so - and i hold the pass-book

silver car ""I wouldn't want the risk of the credit reference agencies seeing it as a financial link and saddling me with the tenants credit history.

can you say a bit more about this please ?

silvercar

Read some of the posts on the bankruptcy forum. There partners are particularly careful not to establish a financial link between each other (when one is contemplating bankruptcy). Once financially linked (and a joint bank account would be a link), the credit record of the untarnished partner can be linked by credit referencing groups to the tarnished partner. So your financial record could say that you have a financial link with someone who has 2 CCJs or whatever.

Also, you innocently open a barclays bank account with a tenant. Unknown to you the tenant then takes out a barclays loan in their own name, gets into a mess with it and Barclays have the right ('cos it was signed in the loan conditions) to take money from your joint account to satisfy the loan.

A dangerous path IMHO.