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Prospective tenant without credit histroy in the UK

happypuppy
happypuppy Posts: 158 Forumite
in House buying, renting & selling
Hi All :), I am a new LL :( in a tricky situation.
The prospective tenant has just returned to the UK after living in Hong Kong for 30 years so we wouldn't be able to obtain a credit reference report or rent protection insurance as he wont have a UK credit history.

He is in a position to pay 6 months rent up front plus his damage deposit.

I would be most grateful for your advice :)
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Comments

  • anselld
    anselld Posts: 8,649 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    From a credit point of view it would seem fine.

    However make sure you do thorough ID checks since paying significant rent up front rent is also the MO of canabis farmers.
  • kirkbyinfurnesslad_2
    kirkbyinfurnesslad_2 Posts: 2,340 Forumite
    anselld wrote: »
    From a credit point of view it would seem fine.

    However make sure you do thorough ID checks since paying significant rent up front rent is also the MO of canabis farmers.

    Yes good point
    Proud to be a member of the Anti Enforcement Hobbyist Gang.:D:T
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    happypuppy wrote: »
    He is in a position to pay 6 months rent up front plus his damage deposit.

    I would be most grateful for your advice :)

    Does the tenant have a permanent job lined up?
  • jimbog
    jimbog Posts: 2,265 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    It's also a MO for rent-to-renters:
    http://www.guardian.co.uk/money/2013/jun/29/rent-to-rent-property
    Gather ye rosebuds while ye may
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    anselld wrote: »
    From a credit point of view it would seem fine.
    How so? He may have a terrible credit record in Hong kong. Assuming his storyof being there for 30 years is true.

    Sorry to be cynical, but things aren't always as they seem.

    On t'other hand, he may be a totally honest, well-to-do & reliable individual.

    6 months rent up front is a good start(cannabis farmer/pimp aside), but what after that? A SPT arises and no rent comes in because....

    And then he vanishes back to HK 4 months after that, leaving a trail of destruction...

    Personally I'd rather have a UK-based, property-owning guarantor than 6 months rent up front.
  • happypuppy
    happypuppy Posts: 158 Forumite
    anselld wrote: »
    From a credit point of view it would seem fine.

    However make sure you do thorough ID checks since paying significant rent up front rent is also the MO of canabis farmers.

    This is the first thing that came to my mind when I heard upfront and single male ! :)
  • happypuppy
    happypuppy Posts: 158 Forumite
    Thrugelmir wrote: »
    Does the tenant have a permanent job lined up?

    Thanks :) I will ask the estate agent :), I guess I am entitled to know :)
  • happypuppy
    happypuppy Posts: 158 Forumite
    jimbog wrote: »
    It's also a MO for rent-to-renters:
    http://www.guardian.co.uk/money/2013/jun/29/rent-to-rent-property

    Cheers :), this is just a 1 bed flat with a open plan kitchen , is there any likely hood of this happening ?
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    happypuppy wrote: »
    Thanks :) I will ask the estate agent :), I guess I am entitled to know :)
    This rings alarm bells about your agent.

    Checking the applicant's employment status, and informing the landlord along with all the credit checks, up-front payment arrangements,proposed guarantor etc, is just so fundamental you should not need to ask.....
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    happypuppy wrote: »
    Cheers :), this is just a 1 bed flat with a open plan kitchen , is there any likely hood of this happening ?

    Makes no odds. These people will rip out the fitted kitchen to increase space.

    You can fit 1000s of plants into the space you describe.

    On the plus side, it is probobly on the small side for use asa brothel.
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