Question on renting...

taraminchin

Hiya,
I've been trying to rent a flat and have some questions as i'm new to this. We have found a flat to rent and have paid the £100 each for reference checks and admin fee's. But im worried we'll be rejected as im a student and my partner has just started a new job. If we had parents as guarantors do you's think there would be much chance of getting rejected?
Thanks
Tara x

clutton_2

i would certainly not reject a prospective tenant who had parents as guarantors, but, i would need to credit check the parents as well.

btw - £100 EACH - thats a blinking cheek is that !

noyk

Depends where you are, i got ripped of for £250 for this in Berks. I think the agencies will soon be regulated or surpassed (by internet services and the like), whichever comes first i will be happy.

lmac22

My partner and I have been renting for a year now.

Last September when we began, I was a nursing student and he had started a new job just 2 months previously.

We had no trouble renting from the agency we are with. Obviously we had credit checks/references done on us but as these came back fine we had no problems so I wouldn't worry too much.

Good luck

Mrs_pbradley936

I was the guarantor when my son wanted to rent a flat because he has student debts and an overdraft . I knew they would refuse him so I told them to just credit check me and only paid the one fee.

taraminchin

pbradley936 wrote:

I was the guarantor when my son wanted to rent a flat because he has student debts and an overdraft . I knew they would refuse him so I told them to just credit check me and only paid the one fee.

Are they likely to charge an extra fee for checking guarantors credit? I thought the £100 each we just paid would cover both...

clutton_2

each credit check you do costs money. but, some of the fees you guys are being charged are outrageous ! Clearly, a guarantor needs to be checked, as anyone can just say " i can pay all the rent for 6 months", even if they cannot.

Tassotti

Fees sound about right for letting agents. LAs round here charge about £100 for checks (license to print money)

With Letsure, if the tenant fails and needs a guarantor, then the first guarantor check is free. If the guarantor fails the checks, then a charge is made for the next guarantor (By this stage, I am sure most LLs will be running for the hills)

Not sure about other tenant referncing companies.

taraminchin

Tassotti wrote:

Fees sound about right for letting agents. LAs round here charge about £100 for checks (license to print money)

With Letsure, if the tenant fails and needs a guarantor, then the first guarantor check is free. If the guarantor fails the checks, then a charge is made for the next guarantor (By this stage, I am sure most LLs will be running for the hills)

Not sure about other tenant referncing companies.

If you put your guarantor down before they fail your credit check would they just check the guarantor?

lynzpower

I wonder if these £100 fees are an enforceable charge as per the Consumer Action Group? Just a thought. Im sure it doesnt legitimately cost 250 to see my credit record, I know I can do it for a fiver

In any case OP, I wouldnt worry. my credit reports been shot to bits over the last few years, and I still managed to pass all these, and get a mortgage. :rolleyes:

clutton_2

lynz - it is true that you can check your own credit rating for a very small amount of money. But, verifying all the information on a tenant application form in addition to credit rating info such as address, electoral roll, employer, latest landlord/mortgage payments, plus all the guarantors details etc is a good deal more complex and does cost a lot more. my research has revealed that various firms offer various options which range from approximately £15-£75 depending on how much detail you want. Then there is a legitimate amount to be added on for the time all this takes. But, £250 is still taking the mick as far as i am concerned.