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Tenant failed referencing & credit check - What to do!
Comments
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I'm pretty sure he earns more than his bank statements show - and does some of his jobs for cash. Most tradesmen probably do. I don't agree with that of course, but all I care about is getting my rent so I can pay the mortgage.
Are you happy to pop round to the flat every month and collect your rent in cash?.................
....I'm smiling because I have no idea what's going on ...:)0 -
If he's SO unsubtle with his cash trading that he doesn't even put a half-sensible "real" income through the books, how long do you think it'll be before the taxman catches up with him...?0
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Why would the rent need to be paid in cash?
The tenant can use the cash to pay petrol, groceries, etc. and use his bank account to pay the rent.
This is not the problem.
The main problem is to prove to the prospective landlord that this extra income exists and comes in every month.0 -
If the rent on his previous place was comparable to yours, and he paid it for two years without a problem, I'd take the chance.
Maybe ask for a bigger deposit to cover yourself ?
If the worst comes to the worst, get him to decorate the place for free if he can't pay the rent one month.0 -
Why are you waiting on his wifes credit check to decide your course of action ? , If she doesnt work , what does it matter?Never, under any circumstances, take a sleeping pill and a laxative on the same night.0
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Why are you waiting on his wifes credit check to decide your course of action ? , If she doesnt work , what does it matter?
Sorry I meant her referencing check, not the credit check. Even though she doesn't work they are going to be jointly liable for rent, so if she has CCJs or other credit problems then it would be a red flag.0 -
I'd be concerned that somebody who's willing to evade tax may also be willing to evade rent.0
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Get a reference from the landlord before his present one. The current landlord might just want to get rid and be giving you a false reference to get him out.
PPI Reclaimed £15,500 - between 2008 & 2014
Mortgage Free - 15th July 2009
Debt Free - 14th Jan 2011
It's possible.0 -
Assuming the rent will be paid monthly, if the worse was to happen and he stopped paying rent you would not be able to start S8 proceedings to apply to court for posession of the property until he is at least 2 months in arrears.
With that in mind, I would be inclined to ask for at least 3 calendar months as a deposit. 2 months to cover the period before S8 and another month at least to cover the court proceedings etc...0 -
I'm pretty sure he earns more than his bank statements show - and does some of his jobs for cash. Most tradesmen probably do. I don't agree with that of course, but all I care about is getting my rent so I can pay the mortgage.
Do you think that tax evasion is a good reference then? Lots of tradesmen do cash jobs, that doesn't stop them declaring them.No free lunch, and no free laptop
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