I purchased a RentNow landlord credit on my property to advertise for upto 3 months. Two prospective tenants paid holding deposit. I paid for their and guarantor’s tenant referencing and but it has failed. If i cancel their application, I want to continue advertising my property and seek suitable tenants.
I want to know whether I can do that before i hit the cancel button. Kindly let me know,
Sorry to hear this application didn’t quite work out.
Upon cancelling the tenants’ application, we re-market your property straight away. It can take a few hours for the portal websites to update - no need for you to do anything!
The tenants are also refunded their holding deposit upon cancellation.
When you do find suitable tenants, we’ll use the Rent Now credit to set up the tenancy for you at no cost.
Any questions, let me know.
Thanks George. Its helpful. Is there a date/time by which i need to cancel without which my prospective tenants will not receive their holding deposit? I am still waiting for the referencing from guarantor but its quite likely that it will come through as failed too.
ask for proof first before you reference the tenants. If they wont show you their bank statement and wage slips then you know what the outcome will be . If they ask also what you check up on as a landlord then likely they have a hidden problem .Cynical ? yes. I have been a landlord for 30 years and have seen the best and worst tenants. Far more bad tenants than bad landlords!
I always ask for proof of income etc but they never have them with them for viewing! I have no problems with the tenant fees ban other than this - why should the landlord pay for the references?
Christopher Hi. If you stress they have to bring proof with them and they dont do this, then.go no further .If you go to an estate agent they ask for proof of funds to purchase.
I have had it were tenants have given me misleading information about their employment and salaries. Therefore, now when I offer a Tenant my property to rent I meet them a second time, asking them to bring three months payslips, P60s and Bank Statement showing the rent they have paid for the last 12 months. If they do not agree then they will not get the keys.
It is best to create a tenant application form where applicants commit in writing their level of income before paying for any referencing. Providing mis-leading information is a valid reason for retaining the ‘Holding Deposit’ if the discovered income does not match. You should always take copies of bank statements and P60s just in case there is any future legal action so you can target the bank or employer to garnish.
Is there a standard template available for this please?
Not that we provide, but maybe another landlord would share theirs?
Clairol Make your own template .You are the one person who knows what you want a tenant to show you. Signed and witnessed
This is over a year old but can you recoup the costs of referencing when tenants and guarantors fail this? I find it very unreasonable to subject the landlord to these costs in this event?
no. but you can set it against tax
Thanks Colin, great to know. It seems very unfairly skewed towards tenants,
thats why we need to reject unsuitable tenants or the liars and scammers will take advantage of us
We did just that but have now lost 2 weeks advertising and potential good tenants. Very frustrating, any tips to avoid this going forward? Thanks
Ask for potential tenants to bring evidence of earnigs with them and anything else that you want to see upfront at any viewings I bet 75% will not want to do that . So you will have your answer. You will save time.