Advice for Self-Employed Tenant from Landlords Perspective

Hi there,

My wife and I are currently in Amsterdam but moving to London around December.

I’m a self employed IT contractor and we have a small King Charles Cavalier so I’m expecting some difficulties finding a place to rent.

From a landlords perspective, what could I do to help my case and look more attractive as a tenant?

My current plan is the following:

  • I earn quite well but most of my clients are on net 45 so I tend to pay myself in drips and drabs so I’m planning on building a buffer and paying good sized salary consistently until we move so my bank statements look good
  • I have two clients with indefinite contracts which I could provide
  • My current landlord is happy to provide us with a good reference
  • We have some friends living in the UK who’ve helped us navigate the move and could provide us with a character reference

Any advice or suggestions on how we provide additional peace of mind would be much appreciated.

Kind regards,

What do you mean by you pay your self drips & drabs as if you are self cert then all monies should be going through your bank account, hence you wouldn’t pay your self?

I am self employed, money from building work does come in erratically however what counts is the annual balance sheet. If mjackson finds a landlord who is self employed or understands a balance sheet there should be no problem

Colin is completely correct, the year end file accounts documentation show all accounts for the year and this would suffice & become more important that one wanting to see more than 3months bank statements for sure, I am self cert & I am employed by another one of my own companies so i file more than one set of accounts & its only the balance sheet which is ever of anyones interest.
If you have an Accountant you could always also get a written reference from your accountant and same with your bank as every little will help you achieve your objective.
You also mention your permanent contracts, obviously you should get the said agreements to hand also and/or references, again these are all additional yet should all add up to a larger picture of trust for your new Landlord as Landlords like more better than less when it comes to their tenants paperwork.

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Hey guys, thanks for the suggestions. I’ll speak to my accountant to see if they can arrange a balance sheet and reference.

Its still the balance sheet that counts. I have a building side. I sell insulation, I am a Landlord I submit it all on one set of accounts. Thus only one set of accounts for me… I own it all. The profit stays in the bank… I can either draw it out or leave it in. Its still taxable wether you draw it out or leave it in. I therefore only have one balance sheet even if I dont understand it! and I dont!

I have let to someone who is self employed
He is in the building trade and I know that contractors only subcontract because then they don’t have to pay sick leave or employ people when they have a slack period etc-no overheads
Unfortunately that means with no wage slip comes zero “credit “ rating therefore zero income so that you are advised by openrent that they are unsuitable tenants although they have good references
It takes courage as a landlord to take them on

see from my reply.above I am self employed. That does not mean zero credit, as long as you have a balance sheet (accounts). I got a great mortgage from the halifax on 3 houses I bought for myself to live in… Not all contractors sub out. They may run their own jobs as I do. But ALL need a set of accounts if they are legit. How can they be unsuitable if they have a good set of accounts from an accountant?

Moving slightly off topic, if is from South Africa he will need to prove to prospective landlord his right to rent.

To make yourself more attractive prepare your own accounts to give to a prospective landlord and leave the dog at home

I like King Charles Spaniels… Accounts from an accountant carries more weight than your own accounts. That is what is going to the taxman

Yes, it’s accounts from an Accountant.
Whether you like dogs is irrelevant it’s whether you next tenants like the stench of them in the flat that counts and their little regular gifts to the local community

I agree I dont allow pets in my places. Do not own a dog either