How to choose between 2 prospective tenants?

Landlord Discussion
1

Hi everyone,

I need to pick your brain on something.

We have two offers from 2 type of tenants to rent our property.

Tenant #1 offers £100/month less on the property but is above the 2.5X affordability threshold. 4 people. Two of them are fully employed and then other two are paid by their home University to study.

Tenant #2 offers £100/month more than tenant #1 but is below the 2.5X affordability threshold by a factor of 20%. One of them is starting a new job as a software engineer when the tenancy starts and the other one is doing an internship (much lower pay than his friend) and is looking for a full time job. Also a software engineer. They both come from top Chinese universities.

I’ve asked tenant #2 if they could pay 6 months upfront and if they could provide a guarantor. Do you think that’s a good option?

What would you do based on your experience?

2

I would prefer T nr2. The fact that somebody makes good money doesn’t mean they will share it with you. Neither does it mean that their disposable income is higher than in case two. It all depends on their outgoings.
Definitely, 6 months in advance, plus deposit. Hopefully, by that time he will find a well-paid job. Should do, really.

3

Id wait for tenant 3. Do you really want the hassle of an HMO?

4

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