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Choosing Tenants

2

Comments

  • antilles
    antilles Posts: 365 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Thanks for the further replies all, much appreciated.

    You are absolutely spot regarding the notice dates, I rented an apartment about 7 years ago and I thought I only needed to give a straight month's notice, but on rechecking emails I now remember that the landlord agreed for me to leave a bit earlier as they had a tenant waiting to move in. So you are correct and I've misunderstood. Apologies, I'm still getting to grips with everything LL wise but am reading up as much as I can.

    I did pop round to where they lived and house seems well looked after and story checks out re it being too small.

    So all looks good so far. I've started the credit checks on tenant 1 and fingers crossed there will be no issues. On the upside I now have a bit more time now to sort out LL obligations like gas safety etc.

    I did a bit more checking on tenant 2 and they are unable to provide bank statements proving their income so that's a definite no-no for me.

    Appreciate all the help and advice so far.
  • steampowered
    steampowered Posts: 6,176 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I would go for tenant No. 2.

    However, I would either want to do a few more checks to ensure that No. 2 is able to pay the rent, or I would ask for 3 months rent up front.

    It is a fools game trying to predict whether people would be good tenants based on such little information. For all we know No. 1 might stop paying the rent straight after they move in.
  • dancing_star
    dancing_star Posts: 314 Forumite
    Part of the Furniture 100 Posts Name Dropper
    Tenant 1 for me too. I made the mistake of accepting a self employed tenant, he paid 6 months upfront then got a job so went to rent monthly in advance, wasn't long before the arrears started.



    Also if tenant 1 have kids and they are happy in the local school they'll be a good longer term bet. Kids might damage stuff but then the single bloke I let my flat to wrecked stuff too.
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    ognum wrote: »
    ....

    The notice period is not a calendar month it is a month from the start of the Tenancy. So start Tenancy on 18th the notice period is a month from the 18th of any month after the fixed term.

    The tenant can give notice on the 23rd but there notice period will not start until the following 18th of the month.

    .
    Perhaps.Perhaps not. Which is why I said "but you/we'd have to read/understand their TA to know for sure."

    * the tenancy might be in a fixed term with a Break Clause - we'd need to read the terms of the Break Clause.
    * the tenancy migh be a Contractual Periodic AST - again, we'd need to read the terms of the contract
  • I hope they're checking you out as thoroughly as well :)
  • Slinky
    Slinky Posts: 11,211 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Tenant 2 sounds just like the one we had, self employed/company director. Had been renting from a friend so no worthwhile references. Passed a credit check. Was able to pay deposit and 1st month, 2nd month was late, had various late payment across his 15 months, he's gone now, we are getting lots of mail looking like it's from financial institutions, and a visit from the bailiffs. Unfortunately we didn't have a lot of choice of tenants at the time.
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  • Funny how a company owner can be rejected yet people employed by the company owner are perfectly acceptable
  • mustiuc
    mustiuc Posts: 99 Forumite
    Sixth Anniversary 10 Posts Name Dropper
    @lookstraightahead
    Very true !

    When I moved to Bristol with my wife, we shared a house for 3 mts and we chose at that time to work 0hrs contract but doing 60hrs a week(doing 2 jobs with 3 different employers). For 3 mts we were getting about 5k/mth. When we've been to apply for a flat we were told we cannot apply without full time contract. I told to that guy, if u lose your job tomorrow, you wont havr money anymore. Instead, i would have another 2 ways to make money. He woudnt care about.
    I asked a friend, to provide some references for me (he is a company director) saying i.m working for him and earning about the minimum required to get the flat. What happened? We got it !
    This system is awful and stupid.
    Two years after, we still live there, paying on time and never had a problem.
    Maybe because of my mentality of first pay the debt/rent/bills and after enjoy your life I consider myself one of tenants who many landlords don't deseve to have. They are only after money and "perfect" references/circumstances. But many of them changes one day after another.

    Ps. Yes, I lied on my references and emplyment. I am a bad person, I know. I bed my landlord would give S21 if he find out :)
  • I would go for tenant No. 2.
    antilles wrote: »
    I did a bit more checking on tenant 2 and they are unable to provide bank statements proving their income so that's a definite no-no for me.

    I guess you've changed your mind about opting for tenant #2, steampowered :D
  • I'm intrigued generally by all the checks endured by tenants, because it today's society people rarely tick all the 'usual' boxes. I'm more concerned that there are no landlord checks as this appears to be such a big problem.

    Op, I get why you're nervous. But people's circumstances change all the time. I rented for years due mainly to my husband setting up his own business and we have in the past had huge amounts of debt because of previous divorces etc. We always paid on time and left our last property spotless - much cleaner than when we arrived. I suppose you have to reduce your risk/meet certain criteria but it does sound like you're trying to choose a pudding from a menu. I'm sure there's stuff in your life that isn't perfect?

    Being a landlord is a risky business.
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