Referencing fees for cash tenant

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    Referencing fees for cash tenant

    I'm 60 y/o, retired with ample capital. I want to rent for a year and pay all the rent in cash, in advance. Should I have to pay for a 'credit check' when I don't want any credit? I am also prepared to pay a deposit in a sum of the landlords choosing to be held against any dilapidation in addition to any fee which would normally be lodged in a scheme. Agents have declined my request to convey this offer to their client. Were I a landlord, I am just the kind of tenant I'd want!

    #2
    Referencing is about more than a credit check. Any tenant who was hoping to avoid a landlord's legitimate scrutiny wouldn't get very far as an applicant for one of my tenancies - for a variety of reasons, many of which may have no bearing on your own personal circumstances.

    Comment


      #3
      Wishing you luck but, can you see you might well sounds "suspicious"? Anecdotally those offering 6 or 12 months rent up-front and trying to avoid no credit/landlord checks are reputedly likely to be planning on running a brothel or a cannabis farm (it happens, oh yes it happens). A police closure order is a right pain & means the place is shut, no rent possible...

      As a landlord I want credit & landlord checks done. In Scotland where I am also a landlord the tenant cannot be charged such fees (or others) and I almost always run those checks at my expense (for my own good).

      You might think "hang on I'm handing over all this money, (say £10k+) why won;t they trust me the b*st*rds" but the landlord is considering handing over an asset of £100k+. And tenants (I'm sure not you) can cause terrible damage & to evict a non-paying tenant who digs his heels in typically takes 40+ weeks (say £7k unpaid rent plus legal costs).

      Cheers! Artful, 70, retired...
      I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

      Comment


        #4
        Originally posted by theartfullodger View Post
        You might think "hang on I'm handing over all this money, (say £10k+) why won;t they trust me the b*st*rds" but the landlord is considering handing over an asset of £100k+. And tenants (I'm sure not you) can cause terrible damage & to evict a non-paying tenant who digs his heels in typically takes 40+ weeks (say £7k unpaid rent plus legal costs).

        Cheers! Artful, 70, retired...
        Agreed, tenants (in general) can cause 'terrible damage'... but what does 'credit checking' do to alleviate this risk?

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          #5
          It's usually more than "credit" checking.
          References are sought, employers contacted, your assertion that you have capital checked.

          It's risk mitigation, not risk elimination.
          When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
          Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

          Comment


            #6
            I have references from previous landlords (glowing) in my hand along with this month's bank/BS statement. I don't have an employer. I understand that _usually_ investigations are required but my point is that I am unusual and I would like these circumstances conveyed to the landlord but the agent refuses.

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              #7
              The other problem you may have is that the landlord's insurance (and mortgage company) will probably insist on a credit check in their ts & cs, meaning any potential claim will fail if the formalities are not in place. If you are genuine, thn perhaps have a look at sites where landlords advertise rather than via agents then they can make their own mind up re risk

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                #8
                Originally posted by expraxis View Post
                I have references from previous landlords (glowing) in my hand along with this month's bank/BS statement. I don't have an employer. I understand that _usually_ investigations are required but my point is that I am unusual and I would like these circumstances conveyed to the landlord but the agent refuses.
                Find another agent, or better yet a private landlord who advertises direct. Or consider buying something cheap to sell on after your need has ended, if you have such means?

                Comment


                  #9
                  Originally posted by wfd_property View Post

                  Find another agent, or better yet a private landlord who advertises direct. Or consider buying something cheap to sell on after your need has ended, if you have such means?
                  Yes I think a private arrangement would be better, thanks all for your comment!

                  Comment


                    #10
                    Originally posted by expraxis View Post
                    I have references from previous landlords (glowing) in my hand along with this month's bank/BS statement. I don't have an employer. I understand that _usually_ investigations are required but my point is that I am unusual and I would like these circumstances conveyed to the landlord but the agent refuses.
                    I've yet to meet a tenant who wasn't unusual in one way or another...

                    - and don't forget landlord/agent will need to see other documents, probably copy them, for Theresa's "Right to Rent" checks (if not possible fine up to £3k) - see
                    https://www.gov.uk/check-tenant-right-to-rent-documents

                    For what a fairly decent tenant check does see
                    https://www.nlatenantcheck.org.uk/services_full.aspx
                    Each Full Check includes:

                    Written verification of employment/income
                    Reference from current landlord or letting agent
                    Affordability calculation
                    County Court Judgment (CCJ) Search
                    Bankruptcy & Insolvency Data
                    Residency & Address Confirmation
                    Alias Name Search
                    Linked Addresses located and searched
                    ID Verification Checks
                    Application tracking with 24 hour online access
                    £19 upwards depending on how many done etc ...btw... You will no doubt be charged way way more

                    Re. the "glowing" references from landlords (great!) most prudent landlords/agents/checking-agencies will also directly contact the landlord themselves, notwithstanding copy of glowing references. The v dodgy tenants may be quite adept at producing such glowing documents, but I'm sure yours are legit. And providing the landlord's mobile (their mate ...)

                    Sadly being a landlord makes one somewhat cautious...
                    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

                    Comment


                      #11
                      Originally posted by expraxis View Post
                      I am also prepared to pay a deposit in a sum of the landlords choosing to be held against any dilapidation in addition to any fee which would normally be lodged in a scheme.
                      No competent landlord would accept such an unprotected deposit. It would be asking for you to sue them for three times the deposit.

                      Comment


                        #12
                        As a landlord I would worry that I was helping you launder the proceeds of crime if you offered me a years rebt but refused a credit check

                        Comment


                          #13
                          What makes you think rent Agreement is not a form of credit Contract?
                          If you feel you would make the ideal T then become one and take on some like-minded people as Ts.
                          Let us know how much income you lose in first 2 years., inc fines & Penalties.
                          Strange how many 'perfect' Ts think they are out there.

                          Comment

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