Hi! I am renting my property for the first time.
I have conducted viewings, and have found a couple of possible suitable tenants, but I am a bit confused about what would be the next step: do I request the holding deposit for the one I prefer, and then do references only for them?
Also what is your experience regarding requesting a guarantor?
Thank you in advance!
The next step is to request a holding deposit and then put them forward for referencing. I have had no experience of using a guarantor. Personally, the only way I would consider using one is if the prospective tenant was new to renting and the guarantor was a home owning parent.
Hope that helps.
Thank you! This is very helpful
Most of my prospective tenants are people transitioning from student rentals to private renting.
I will check the guarantors as you suggest
Hi @Estefania1 , I would request a holding deposit from the tenant you prefer. Once they have paid this OR will notify you, the system should guide you through requesting referencing. Once the referencing has been received for all tenants, you then have the option of requesting a guarantor (if needed) or proceed to contract signing if you are happy with the results.
If a guarantor is required it is fairly easy to add them. There is an ‘Add guarantor’ button during the process.
Thank you!! Will start this process now
Id say your next step is to join a landlord association and read everything on their website. You are at a dangerous moment because theres probably a lot you dont yet know and the penalties for making a mistake can be very severe.
beat me to it… literally word for word what I was going to say.
You sound completley out of your depth here @Estefania1
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