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Tenant failed referencing & credit check - What to do!
Comments
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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...
I'd have liked to ask for 3 months, but that would make it a "premium tenancy", which are to be avoided at all costs...
See: http://www.landlordlawblog.co.uk/2012/02/09/five-premium-tenancy-questions-answered/0 -
Get him to pay six months up front or get someone else.0
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