New landlord question, need help re tenants?

Sandie11

Hi

I am a first time landlord and have a 2 double bedroom terraced house to rent, an agent came around last night and this afternoon had 4 viewings in which 2 wanted it. The agent has recommended one of the families as she said they had less demands, would pay more and didnt seem as picky as she said the others seemed the sort to want other things.

This has happned so quickly that I am a little shell shocked (seems stupid I know as this is purpose of agent)

Anyway, my concern is that it is a family with 2 children ( 7 & 13), I read not to rent out to families with children, but I have to say this seems a little harsh.

The agent wanted me to say yes now as they were willing to put £1200 deposit down right away but I just felt rushed, I suggested that I meet them on Monday, the agent would get them to have a second viewing and I would just be there.

Can anyone offer any advice, ie am I being over cautious and stupid.

Please help

Thank you

BitterAndTwisted

Has your agent carried out credit-checks and taken out references on this couple yet? Ask to see them before you make any decisions.

poppysarah

Are the children the same sex? If not they'll surely need more bedrooms?

Not renting out to families is a bit harsh ... Meet them and then judge. Meet the kids too. If they are climbing and jumping about like they are on tartrazine then they will do that to your house.

Sandie11

Agent said I need to give the go ahead and then they do all the checks which makes sense.

I think children are both girls, and must admit it will be a little of a squeeze for them.

steveE2

Definitely overcautious,your agent is being paid by you to sort any problems that may arise.
You have the chance now of a certain rental, deposit being paid immediately,what is there to worry about?

As for not renting to families with children,it's a 2 bed house,who else would you have? 2-4 students,just a couple? Take the offer when you see them on Monday provided they've not decide on another property

BitterAndTwisted

Once you've seen the references from both their current and previous landlords, you could suggest meeting this family in their current home. This will probably tell you whether they can be relied on to respect your property or not.

I see no particular reason why a family with children should be less desirable. Families will generally want a long-term rental for the sake of their kids' educations. It just depends on what kind of family this is.

jamie11

Sandie11 wrote: »

Hi
am I being over cautious and stupid.

No you are not. You can agree in principle if you wish, but do not rush the reference and checking procedures. You need to approve them yourself and not rely on the agents word. If they have already been renting you will want a reference from their current landlord if possible, but the telling one will be a reference from their landlord before that.

Also run a proper credit check on both of them, any ccj's should ring alarm bells in your head.

Do not rush into letting these applicants into your investment because it could cost you dearly if they are bad'uns.

BitterAndTwisted

What the agents will do is take a "holding deposit" from this family while they do the credit-checks and take out references. Once all of that is done you get to decide whether to offer a tenancy or not. If you don't the holding-deposit less the referencing fess will be returned to them. Do not let the agents lead this or rush you into anything. They want their tenant-finding fee asap but you need to ensure that you take on reliable tenants.

G_M

The agent wants a quick decision cos then they get their fee. YOU are in charge. Take your time.

How did you select the agent? As you are a new LL you will be relying on them heavily so you need to be confident in THEM. Selecting the right letting agent is as important as selecting the right tenant!

Have you read this post? (updated today).

Ste.._2

BitterAndTwisted wrote: »

you could suggest meeting this family in their current home

And hopefully they'll tell you to get lost.

tbs624

G_M wrote: »

Have you read this post? (updated today).

Link broken G_M