Advice needed before deposiut

Tenant Discussion
1

Hi
I have been to view a property & the landlord just said if I want it to follow the next step.This property has had 40 prior viewings.Does this mean we could all be following the next step? Thanks in advance

2

In theory, i guess, yes!
Viewings are also for the landlord to weed out who they consider would be the best tenants.
Impossible to say how someone else finds their tenants and what their stategy is.

If you like it apply.

People drop out along the way, just supply what information they request in good time.

If tou pass any criteria set so far, you have as good a chance as anyone else.

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3

Thanks for your reply
I’m just worried about how long he can keep the holding deposit for & who decides how much that deposit will be

4

Is the landlord using openrent?

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5

Yes he is advertising on here :grinning:

6

If the landlord is using Openrent, and you are paying the holding deposit through Openrent’s “Rent Now” option, then the holding deposit is held by Openrent temporarily so landlord won’t be able to keep that until he proceeds with your application. If the landlord doesn’t go through with your application then your holding deposit is refunded back to you via Openrent. Holding deposit is capped at one week’s rent. Do not make any direct payments for holding deposit.

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7

Thanks for your reply it’s appreciated :grinning:

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8

Sorry for all the questions but does anyone know what references are required?
Thanks in advance

9

You will have to fill out a form if the landlord is proceeding with you, and it will ask you for all the relevant referencing questions. This usually covers employment, previous landlord, earnings, credit history etc.

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10

you have 2 choices but need to be quick, 1. use the “Rent Now” feature and just follow the process and it will tell you what you need, 2. email the landlord and explain your situation. the scope of referencing is up to the landlord, the credit agency checks are just an off-the-shelf process but ultimately the landlord can ask for whatever information in order to get comfortable. If you know something about your history that makes you think you will fail it is better to tell landlord BEFORE starting the process as the landlord has to pay for referencing and they will think you have wasted their money, then the chance of them renting to you will be zero.

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11

Sound advice from the previous contributors. I would just like to add that legally the Landlord can only take one Holding Deposit at a time. So it is likely, that several of the previous 40 applicants have gone to the next step, and not met the criteria for whatever reason, so you have a realistic chance if your references come back okay. The main issues applicants have with referencing is affordability. Most referencing agencies work on having an annual salary which is 30 times the monthly rent. If you don’t earn this you will fail. The other thing is having CCJs which stay on your credit profile for 6 years.

Good luck

12

So sorry for the delay in responding
Thanks so much for your advice & thanks fingers crossed

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Thanks for your advice

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Thanks Chris for your help

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Thanks for your help Graham

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Thanks for your help Mita

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