My tenants have been at my property for 1 year now and paid 6 months upfront and then the remaining 6 months in one payment. They would like to renew for another year and are asking to pay month by month. They are saying their situation has changed in that both are now working whereas previously only one was working. The agents are saying we should do references (again) due to the change in circumstances. Not sure why this would be necessary as between them their income will have now increased.
I think re referencing and checking bank statements again is a good idea
Circumstances change
I would always do it .
I’ve had a couple of tenants who renegotiate and when I’ve done the paperwork realised they’ve lost their job and their income on Uc was not sufficient for them
He had four jobs in the twelve month AST!!
It should have been a red flag
I did renew for twelve months but then evicted him as he defaulted on the last month of the second AST
Proof any new employer, condition of employment (FT, PT or fixed term contract) and regular income should be sufficient for you to make a decision on this.
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