Referencing fees for cash tenant

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

    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?

        Comment


          #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.

            Comment


              #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

              Comment


                #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

                          Latest Activity

                          Collapse

                          • Tenant has disappeared and left all belongings
                            Ekoor
                            Hello all, I am new to the forum and looking for some advice or help if anyone has been in a similar situation.

                            My tenants paid 1/2 of November's rent and told us they were going away for Christmas. They didn't pay December's rent nor January so are two months in arrears. We have tried...
                            17-01-2018, 11:06 AM
                          • Reply to Tenant has disappeared and left all belongings
                            Ekoor
                            Well it does kind of matter because I am already out of pocket, have to find the money to pay for the rent while the court process is going through as well as the refurb of the house and only have enough money in that account to cover 3 months of rent due to having to pay self assessment recently. And...
                            18-01-2018, 08:36 AM
                          • Damage caused during DV
                            theahardy
                            Hope that this is allowed here as it’s a very tricky subject and not one that’s on the internet already.

                            I’ve been renting a house through an agency for just over a year now, I have never met the landlord. When I first moved in it was the middle of November and the boiler was broken....
                            17-01-2018, 20:35 PM
                          • Reply to Damage caused during DV
                            MisterB
                            I sympathise with the tenant BUT its their responsibility, I would ask why move in to a property when it was in such poor condition, no boiler,, crap in the garden etc, but I also recognise some people don't have a lot of options,

                            to be fair to the tenant, she does accept responsibility...
                            18-01-2018, 08:04 AM
                          • Contingency Fund Query
                            Letting Go
                            Have been letting a flat for nearly 30 years. Many years ago we owners bought the leasehold of the block. We’ve been through many managing agents over that time and have been with the present ones for several years now. The service charge has remained fairly constant for a few years, but this January...
                            18-01-2018, 07:36 AM
                          • Reply to Contingency Fund Query
                            Letting Go
                            Thanks for this. I’ll speak to the other owners and contact the agent armed with these questions.

                            I am definitely considering the option of selling (bearing in mind capital gains tax implications). I guess it sounds selfish, but if I do sell I’m not really going to be bothered about...
                            18-01-2018, 07:54 AM
                          • Whos responsible for slow draining bathroom sink and black grout? Landlord or Tenant?
                            Bounce
                            Hi

                            I was wondering if anybody could help me and tell me who could be responsible Landlord or Tenant?

                            One of my properties, the tenant has been in there about 2 years and normally has always called me direct for any little problem.

                            I then went through months where...
                            Black Grout they want me to get redone...
                            17-01-2018, 21:53 PM
                          • Reply to Whos responsible for slow draining bathroom sink and black grout? Landlord or Tenant?
                            MisterB
                            the discoloured silicone might be down to lack of cleaning by the tenant. a build up over time of dirty water/soap/shower gel etc could be the cause - you should try cleaning it first/bleach etc - not too strong though

                            showing them how to clean properly is the best solution, but expect...
                            18-01-2018, 07:51 AM
                          • Reply to Contingency Fund Query
                            MisterB
                            why do you need roof works? I assume its a flat roof? as for the agent. if you all 'own' the freehold having bought it some years ago, then you all have a say in how the service and repair charges are arrived at.

                            planning for roof work 12 years in advance seems sensible, though are they...
                            18-01-2018, 07:45 AM
                          • service charge
                            Sparkz
                            I am now living in a one bed flat owned by a housing association, for the past year the communal boilers that provide hot water and heating to all flats and the sheltered housing block has been frequently faulty leaving us without hot water or heating.

                            So the HA have replaced the boilers...
                            15-01-2018, 21:26 PM
                          Working...
                          X