Should i use online estate agent to complete checks on tenants ....high prices i fee

thenap80

Hi
I have used an online agent called Housesimple to get a prospective tennant for my house. Now there is two adults who will need reference checks and for them to go through housesimple they will get stung 75 pounds each. Alot i say.

Are there any other alternatives to getting checks done and still getting rent guratantee insurance. Is there a competing company who are reasonable.

Also i need a tenancy agreement. I have been quoted once for 500 pounds for landlord insurance and same for RGI. Is this about the going rate for a two bed hoyse with a familly living?

Any advice for a soon to become landlord is warmly appreciated.

[Deleted User]

Perform your own checks and ask to see bank accounts to show they can manage money. All it will cost is a couple of phone calls. Go to see where they are living presently to see if they look after where they live rather than trash it.

Glad to see you are querying the £75 cost, it costs the EA much much less than that and all the checks will consist of is a quick credit check to see if any CCJs or bankruptcies, a LL reference which the LL could falsify if he wants to get rid of a bad tenant, and maybe an employer reference. You can obtain those with a quick phone call or letter. And ask more questions than they will.

Join a LL organisation, will provide tenancy agreement or there is a government created one online for free. https://www.gov.uk/government/publications/model-agreement-for-a-shorthold-assured-tenancy

You need to find out more information to save you making some mistakes which could cost you a lot of money. For a start read https://forums.moneysavingexpert.com/discussion/4930313

Particularly post 12.

Its right at the start of this board, headed, Important threads for Landlords.

Remember you are risking a big investment and take it seriously. Do your research.

G_M

Do it yourself:

* check employment
* ID
* salary
* previouslandlord ref
* other refs
* credit check eg via
ParagonAdvance (Tenant referencing provider – there are others. Use Google) Letsure

Yorr landlord Association will provide a tenancy agreement - so join one (link below)

See also:

* New landlords: advice, information & links

from


Tenancies in Eng/Wales: Guides for landlords and tenants

thenap80

Thanks. The tenant would pay for the referencing but i wouldnt want to see them get ripped off.

So.doing my own checks....would that be okay for taking out a rent guarantee insurance?

And this free tenancy agreement....is that widely used and possible to write according to my own desires.

Still not too clued up on how detailed a contract has to be. Like how pinickity? Does it say say for eg i am in charge of a kettle?

G_M

You need to read the conditions of the rent guarantee insurance you are using. No point paying for insurance unless you comply!

The law requires you to maintain certain things - if you don't understand what, then you need to do some fast reading/learning. (eg the kettle, if electric, must be safe to use, as must all electrical appliances).

Given your relative niavity, do not try to write your own contract - join a LL Association.

Personally I don't charge tenants for referencing. The referencing is for my )landlord's) benefit, to protect me, so I pay. However I take a deposit to cover the cost in case the tenant changes their mind, or fails refernceing, and then I refund it from the first months rent.

thenap80

Oh....i read the free tenancy agreement provided on .gov website.......one question.....who can act as witnessing signatures from tenant and landlord???

thenap80

What is a Landlord Association? Is that like a free club to join?

G_M

thenap80 wrote: »

What is a Landlord Association? Is that like a free club to join?

Read the lnk in post 3 above!

* New landlords: advice, information & links

Why do you think a tenancy agreement needs a witness?

thenap80

The tenancy agreement provided on .gov website has field for witness signatures

G_M

thenap80 wrote: »

The tenancy agreement provided on .gov website has field for witness signatures

Signed and executed as a deed by the following parties (delete this wording if the agreement is not being signed and executed as a deed – see guidance note above):

The contract only needs to be Executed as a Deed if for a period longer than 3 years. If less than 3 years, no witness is required.

The guidance notes do not appear to make this clear (unless I've missed it).

Personally I wouldn't touch this contract with a bargepole. I might refer to it for some source information, but no more than that.

thenap80

Why not touch it. It seems to cover everything