Hi, I have a property up and I have found three suitable candidates. This is my first solo run at renting so I wondered if there is a way to check them all out without making a commitment.
I noticed a couple of people that enquired were ‘verified tenants’ is this something I could ask the interested tenants to complete so I can at least see if they are being honest about affordability.
Do it cost to be a verified tenant?
No, youd be breaching the tenant fees act by asking them to do that. The best method in my experience is to meet them at viewings and interview them. I have about 8-10 questions that I ask them and I gauge their reaction as well as assessing their answers.
yes, it’s called vetting tenants. Ask each to
See who gets this to you quickest and then see what you’ve got when you go through all the details. The bank statements are usually an eye-opener.
Okay.
I just logged into the website you suggested and it looks quite good. What’s the difference between their credit check and the ones Openrent do?
I just use their application form as a template to get applicants’ details. All credit checks will be pretty much the same except for price. I can’t say I’ve ever noticed a difference except for that.
However, you’re not at that stage yet. You need to decide which of the three you’re going to spend cash on bothering to reference. That means you need to eliminate two based on the other info I suggested you collect and how painless collecting that info is from them.
BTW, I’m assuming you’ve done right to rent checks, had them sign a data protection form, and met them in person during a viewing and got a good vibe for each, right?
Out of curiosity, what is the data protection form you ask them to sign? I provide a copy of my data protection policy to all tenants, but have never asked anything be signed.
I think my use of ‘form’ might be misleading. I provide the data protection policy and they sign it to say that they’ve seen it and understand it. I don’t want anyone claiming that I never provided them with a copy. I get a signature for every piece of paperwork I provide.
Followed the advice here and finally settled in a tenant. She was up front in that she would fail affordability checks but provided two guarantors, one who will be living there.
Just wanted to know what the experience is in this circumstance, do you now do a full reference check on the guarantors at this stage or proceed onwards?
A guarantor should not live at the property, that would make them a tenant !
So you have two tenants and a guarantor
The second guarantor is redundant
Why is she failing affordability checks ?
Why are you renting to someone who can’t afford the property?
Added him as tenant now. They have now passed affordability.
They now need to add another guarantor as they both failed one check each.
Is it illegal to ask to speak to manager and current landlord?
I think you need an agent. Your lack of knowledge will be your Achilles Heel.
This question reveals that you really don’t have much idea what you’re doing.
This forum is not a substitute for proper training that you can get from joining a LL association and doing their training. Until you’ve completed that, you really are taking massive risks doing this stuff yourself.
No worries. I have got an agent today. Thanks for the advice
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