Signing tenancy agreement before guarantor in place

MumOfTwoStudents

dimbo61 said:

If anybody wants to become a HMO landlord then go for it.
Lenders are more than happy to lend thousands of pounds to hmo landlords said  (No One) 
Room sizes, fire safety, security, dealing with students and worried parents.
Very few mortgage lenders involved in HMO lending, rates much higher than high street lenders.
Getting a HMO licence is expensive costing over £1,000 and involving an inspection from the HMO team at the local council.
Criminal checks ? 
Video inventory, gas Safe checks, EICR and even bin collections.
Supporting the local community and even Landlord training on Prevent,  Mental health, Fire safety with Fire officers, Visiting recycling centres, following local rules and Landlord Renting legislation.
Being on call 24/7 because a student has locked himself out or had a break in.
We have CCTV cameras and alarm system.
Students are fantastic tenants but Wear and Tear is often high.

My beef isn’t with the landlord. It’s with the agent whom I don't believe has even done a good job even to protect their landlord. 

anselld

MumOfTwoStudents said:

dimbo61 said:

If anybody wants to become a HMO landlord then go for it.
Lenders are more than happy to lend thousands of pounds to hmo landlords said  (No One) 
Room sizes, fire safety, security, dealing with students and worried parents.
Very few mortgage lenders involved in HMO lending, rates much higher than high street lenders.
Getting a HMO licence is expensive costing over £1,000 and involving an inspection from the HMO team at the local council.
Criminal checks ? 
Video inventory, gas Safe checks, EICR and even bin collections.
Supporting the local community and even Landlord training on Prevent,  Mental health, Fire safety with Fire officers, Visiting recycling centres, following local rules and Landlord Renting legislation.
Being on call 24/7 because a student has locked himself out or had a break in.
We have CCTV cameras and alarm system.
Students are fantastic tenants but Wear and Tear is often high.

My beef isn’t with the landlord. It’s with the agent whom I don't believe has even done a good job even to protect their landlord. 

A beef with the agent is the same as a beef with the landlord.  That is the nature of agency.  The agent acts on the landlords behalf but the landlord retains responsibility for all matters.

In practice the Landlord is well enough protected in this situation.  It is the tenants who must take responsibility for holding the group together and making sure everyone takes their share of responsibility.

MumOfTwoStudents

anselld said:

MumOfTwoStudents said:

dimbo61 said:

If anybody wants to become a HMO landlord then go for it.
Lenders are more than happy to lend thousands of pounds to hmo landlords said  (No One) 
Room sizes, fire safety, security, dealing with students and worried parents.
Very few mortgage lenders involved in HMO lending, rates much higher than high street lenders.
Getting a HMO licence is expensive costing over £1,000 and involving an inspection from the HMO team at the local council.
Criminal checks ? 
Video inventory, gas Safe checks, EICR and even bin collections.
Supporting the local community and even Landlord training on Prevent,  Mental health, Fire safety with Fire officers, Visiting recycling centres, following local rules and Landlord Renting legislation.
Being on call 24/7 because a student has locked himself out or had a break in.
We have CCTV cameras and alarm system.
Students are fantastic tenants but Wear and Tear is often high.

My beef isn’t with the landlord. It’s with the agent whom I don't believe has even done a good job even to protect their landlord. 

A beef with the agent is the same as a beef with the landlord.  That is the nature of agency.  The agent acts on the landlords behalf but the landlord retains responsibility for all matters.

In practice the Landlord is well enough protected in this situation.  It is the tenants who must take responsibility for holding the group together and making sure everyone takes their share of responsibility.

I see. However if the agents are handling the payer work surely they should let the group/landlord know if they’ve been fruitlessly chasing an applicant and his guarantor daily for 3 months (well before it got to 3 months). How was anyone supposed to know this was going on? The only communication we got from them two weeks ago was that everything was in place. 

We, including the landlord, were only made aware of this one week before moving in forcing the landlord to accept this applicant without a guarantor. Hardly protecting the landlord. 

If this ok then something is seriously wrong with the system. 

anselld

MumOfTwoStudents said:

anselld said:

MumOfTwoStudents said:

dimbo61 said:

If anybody wants to become a HMO landlord then go for it.
Lenders are more than happy to lend thousands of pounds to hmo landlords said  (No One) 
Room sizes, fire safety, security, dealing with students and worried parents.
Very few mortgage lenders involved in HMO lending, rates much higher than high street lenders.
Getting a HMO licence is expensive costing over £1,000 and involving an inspection from the HMO team at the local council.
Criminal checks ? 
Video inventory, gas Safe checks, EICR and even bin collections.
Supporting the local community and even Landlord training on Prevent,  Mental health, Fire safety with Fire officers, Visiting recycling centres, following local rules and Landlord Renting legislation.
Being on call 24/7 because a student has locked himself out or had a break in.
We have CCTV cameras and alarm system.
Students are fantastic tenants but Wear and Tear is often high.

My beef isn’t with the landlord. It’s with the agent whom I don't believe has even done a good job even to protect their landlord. 

A beef with the agent is the same as a beef with the landlord.  That is the nature of agency.  The agent acts on the landlords behalf but the landlord retains responsibility for all matters.

In practice the Landlord is well enough protected in this situation.  It is the tenants who must take responsibility for holding the group together and making sure everyone takes their share of responsibility.

I see. However if the agents are handling the payer work surely they should let the group/landlord know if they’ve been fruitlessly chasing an applicant and his guarantor daily for 3 months (well before it got to 3 months). How was anyone supposed to know this was going on? The only communication we got from them two weeks ago was that everything was in place. 

We, including the landlord, were only made aware of this one week before moving in forcing the landlord to accept this applicant without a guarantor. Hardly protecting the landlord. 

If this ok then something is seriously wrong with the system. 

I didn't say it is OK; it is very poor communication by an unprofessional agent.   That doesnt mean the whole system is broken.

I said it is the Landlord's responsibility (since they employ that agent to act on thier behalf) and that never-the-less the Landlord is adequately protected since they can pursue any of the tenants and any of the six guarantors for any missing rent or for damage.

MumOfTwoStudents

anselld said:

MumOfTwoStudents said:

anselld said:

MumOfTwoStudents said:

dimbo61 said:

If anybody wants to become a HMO landlord then go for it.
Lenders are more than happy to lend thousands of pounds to hmo landlords said  (No One) 
Room sizes, fire safety, security, dealing with students and worried parents.
Very few mortgage lenders involved in HMO lending, rates much higher than high street lenders.
Getting a HMO licence is expensive costing over £1,000 and involving an inspection from the HMO team at the local council.
Criminal checks ? 
Video inventory, gas Safe checks, EICR and even bin collections.
Supporting the local community and even Landlord training on Prevent,  Mental health, Fire safety with Fire officers, Visiting recycling centres, following local rules and Landlord Renting legislation.
Being on call 24/7 because a student has locked himself out or had a break in.
We have CCTV cameras and alarm system.
Students are fantastic tenants but Wear and Tear is often high.

My beef isn’t with the landlord. It’s with the agent whom I don't believe has even done a good job even to protect their landlord. 

A beef with the agent is the same as a beef with the landlord.  That is the nature of agency.  The agent acts on the landlords behalf but the landlord retains responsibility for all matters.

In practice the Landlord is well enough protected in this situation.  It is the tenants who must take responsibility for holding the group together and making sure everyone takes their share of responsibility.

I see. However if the agents are handling the payer work surely they should let the group/landlord know if they’ve been fruitlessly chasing an applicant and his guarantor daily for 3 months (well before it got to 3 months). How was anyone supposed to know this was going on? The only communication we got from them two weeks ago was that everything was in place. 

We, including the landlord, were only made aware of this one week before moving in forcing the landlord to accept this applicant without a guarantor. Hardly protecting the landlord. 

If this ok then something is seriously wrong with the system. 

I didn't say it is OK; it is very poor communication by an unprofessional agent.   That doesnt mean the whole system is broken.

I said it is the Landlord's responsibility (since they employ that agent to act on thier behalf) and that never-the-less the Landlord is adequately protected since they can pursue any of the tenants and any of the six guarantors for any missing rent or for damage.

Thank you for clarifying that. I was beginning to believe that I’d been expecting too much from them.