an old school friend wants to rent my home £1300 a month but on the credit check she had a CCJ - she told me she would fail as explained it was from an previous council tax when living with her ex. She passed affordability checks etc.
She currently rents a place via Open Rent and has a guarantor. However if I put that same guarantor down she would fail as she is already named on another property?? Is there a way that the guarantor can be transferred over without paying for another reference check?
Or could I not have the guarantor- but if I can landlord insurance would the element of non rent payments be invalid if it ever come needing that?
What makes you think this would happen? The tenant won’t be refused because she already rents on OR, so why would the Guarantor? There is no method to simply transfer the Guarantor from one contract to another, but you do not have to credit check the Guarantor. That’s your choice, and you could just add them in without, but I would not recommend that.
I would be asking why it hasn’t been paid off? If its old she has had plenty of time to sort it & settle her liabilities. Does she not take debt seriously? Will she take your debt seriously?
I genuinely, do not understand what you are asking. Can you rephrase?
As this is your friend, you might be willing to override any failed credit check, but if you want RGI, then this is unlikely to be an option. I do not know if a person with a CCJ would be eligible for RGI with a Guarantor.
Better not to rent to a friend - mixing business and friendship is never a good idea - what happens if friend doesnt pay or takes advantage or damages or doesnt take care of your property or if you have to evict?
This makes no sense at all. You are getting a guarantor to address shortfall in rent IF you rent to your friend. So you need an up to date reference check to show the guarantor can afford to be a guarantor for your property’s rent. The reference used for a different property for a different rent maybe years ago is totally irrelevant. It’s not an MOT or a transferable document. Pay the £30 get the guarantor referenced and if they can afford it, you ‘may’ be able to get RGI [it’s still not guaranteed.]. If £30 for referencing is an issue you shouldnt be renting to your friend
You can’t charge a tenant for landlord rent guarantee insurance - that would be a prohibited payment under Tenancy Fees Act. And you are unlikely to be able to get RGI if there is a CCJ and no guarantor who has passed referencing instead
Many people here, myself included, would advise against renting to anyone you have a relationship with. In my experience, they take advantage of you and it does not end well.
NEVER ever rent to a friend EVER. It will likely destroy any friendship and they will RIP you off with a sob story. Even millionaire friends will likely take advantage. Be warned. Failed references, No RGI. Good that the friend was up front with owning up to CCJ. Should have been discharged and paid off by now?
As a first time LL look at training. And use a good agent for a ‘Tenant find only service’ if you dont want full management. Many similar posts here Re: referencing, selecting tenants, asking pre-referencing questions.