Income check on prospective tenants

PIppa

Hi

Yes I can afford a void period, that's fine. I am still insured if the property is empty, it just increases the excess and I would rather have that and get the right tenants.

It had also occurred to me about the LA meeting both prospective tenants and I don't actually know if that has happened. I also wondered if he existed! I will find out more next week when I show in person.

I rang the agents today and said I wanted an income check done on both and not just one of the prospective tenants and that I also wanted to see bank statements from both parties. I also stated that I hadn't accepted them as tenants.

I haven't prejudged or penalised anyone because they are female, I have merely stated facts.

As both parties currently live at home there is no mortgage or previous tenancy that I am able to check.

I wouldn't be prepared to share my bank statements but then tenants' exposure to risk is a lot less than mine.

Thrugelmir

Kynthia wrote: »

A lot of business felt like you which is why we have an Equalities Act to protect women from this discrimination.

My comment had no context in terms of employment law.

The relationship between a LL and tenant is a business relationship. So your comment has no bearing on a commercial decision.

Better_Days

PIppa wrote: »

I rang the agents today and said I wanted an income check done on both and not just one of the prospective tenants and that I also wanted to see bank statements from both parties. I also stated that I hadn't accepted them as tenants.
.

Probably best to confirm this in writing backed up by an email confirmation with a copy of your letter so there can be no doubt.

Six months bank statements will not tell you enough for someone who is self employed. You may only be shown the account into which business income is paid and some business expenses may be satisfied elsewhere. In addition some business expenses may only occur on an annual basis. On the other hand if the man does not have a dedicated business account then it will be difficult if not impossible to separate business and personal expenses. You really need to see 3 years business accounts to ascertain net profits (which will be before income tax and NI). At the very least you need a letter from his accountant confirming net profits for the past three years. Once you obtain this check out the 'accountant' too (he may actually be a book keeper).

This may be a young couple starting out on their own, (they currently live at home), and the man may not have 3 years accounts to show you. Hopefully the LA has had the sense to ask what the maternity leave package is when they wrote to the woman's employer. What has come out of all this is that you need much more information to make an informed decision, and you are completely justified in seeking this info before you make up your mind.

The underlying problem is that you cannot trust your LA, so I do hope that you will be able to find one that is much better. I don't know a great deal about LA's, but someone on a previous thread made what seemed to be a sensible suggestion. When you go round LA's, as well as speaking to the 'front of house' also ask to speak to the people who will be dealing with the day to day management of your property. In effect interview them with a list of questions on how they deal with certain problems that may arise. This will hopefully give you a feel for their level of professionalism.

Let us know how you get on

angrypirate

If a future landlord asked me for bank statements I'd tell them to go jump. You can run a credit check on me - fine. I'll let you approach my employer for a reference. But looking at my bank accounts? You have no right. How would you feel if the tenant asked to see your bank accounts to make sure you could pay the mortgage?

tbs624

Agree - see also post 18. For some LLs its a case of wanting every bit of info they think they can lay their hands on, whether or not it is of any use in reality. Perhaps a copy of Medical records uought to be demanded so that the LL can "assess" whether the T may become too ill to work/pay the rent or is likely to become depressive and may refuse the LL access to the property?

T's bank statements are none of a LL's business if a credit reference has been undertaken and T can already show (a) that he is employed and earning x£ or can provide accountant confirmation of self employment finances and (b) that rent/mortgage has previously been paid on time.

rentergirl

'Oh for God's sake. These things really annoy me.

A perfectly normal couple have viewed your house, one of them has already passed the income check for both of them, but has the temerity to be pregnant and dare to ask for a handrail. So you're going to refuse them altogether.

I think they've had a lucky escape from you and the "pretty dreadful" agents you have seen fit to appoint.'
Good words Rugged toast!
People often look bad on paper, but as an agent once said to me: 'If they don't pay, throw them out.' They need a home, they pay you let your home. And you have insurance, right?

Better_Days

tbs624 wrote: »

T's bank statements are none of a LL's business if a credit reference has been undertaken and T can already show (a) that he is employed and earning x£ or can provide accountant confirmation of self employment finances and (b) that rent/mortgage has previously been paid on time.

I agree that bank statements that are of limited use, proof of income via P60/employer and s/e accounts is much better. However one of the problems that OP has is that the T's are probably going to be unable to provide the point (b) that you have raised as T's are currently living at home.

OP's other problem is the LA, who appears to be untrustworthy, and she is coming back to this country to try and sort things out. I can understand her caution.

Kynthia

Thrugelmir wrote: »

My comment had no context in terms of employment law.

The relationship between a LL and tenant is a business relationship. So your comment has no bearing on a commercial decision.

Just so you know, the Equalities Act 2010 isn't limited to employment law. It prohibits unfair treatment in the workplace, when providing goods, facilities or services, in the disposal and management of premises, in education and by associations.

I think the OP has the right to questions his letting agents choices and should query why the partner hasn't been met yet. If he has a bad feeling he can let to someone else and doesn't have to make changes to the property if he doesn't want to.

adelight

Seems like there are a few LLs in this thread, can anyone give me some advice on my similar situation please?
Me and OH are trying to rent but are having issues with income/landlord on a house we really like. Originally we negotiated a reduction on the rent for a longer lease but once the landlords found out that I haven't started my graduate job(I start a few weeks after we move in) they wanted a six month break clause. The rent is only 50% of OH's take home pay each month and we have offered to pay 6+ months rent up front but they still want this break clause and now want a guarantor and keep putting off our move in date.
Is this the norm or should we give up and look for somewhere else?

FBaby

Why are some people assuming OP is going to turn them down because she is pregnant? He is currently raising concerns mainly because the LA is acting unprofessionally and there are potential risks with the circumstances. Am sure if the partner shows his face with a decent credit record and she shows a decent maternity package OP will be ok with them. It's about security the reason why he is paying a nice fee to thr LA for. Ironically this situation arose with me but after we'd signed the lease. The tenants are brilliant though and I have had no issues at all rent always paid on time. Saying that if she'd been pregnant at the time of looking to rent the property I would have had the same concerns than OP.