How much would a guarantor have to earn to cover the rent ? I heard that I sould be 3 times more them they share on the rent
Hi Sonia, here’s a thread about this.
Anyone else had problems getting potential tenants & guarantors through Credit checks? I’ve paid for 11 credit checks so far and 9 failed - though I pre-checked passports & payslips :-
Many tenants struggle to pass, tenants from abroad cannot provide guarantors & others couldn’t get their employers / letting agents to respond in a timely manner.
Another problem is that because tenants now don’t pay, some don’t tell the truth: one with a ‘bona fide’ accountant declared an income of £55k, but the same accountant then failed to provide evidence of even half that!
OPEN RENT - Time to step up and allow tenants sign-up for their own advance referencing. For just £20 a tenant could gather all their information in advance, establish the maximum rent they can cover, and even hand it to a landlord on viewing - I would snap up anyone who did that as it would save me time, risk & £.
ask them to show wage slips. if they dont Then proceed no further