Best tenant check service?

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    Best tenant check service?

    I am after advice on the best tenant checking service that i can use. I have a new tenant who i am confident will be great however as i am new to managing i will shortly be joining the RNLA and would also like to use a tenant affordability/credit check service.
    Can anyone comment/recommend ones that they have found good or indeed bad?
    My prospective tenants situation is slightly unusual in that she is 62 years old but only works part time. She does however have a large sum of money with which she intents to pay the rent. Referencing from a landlord is also an issue as she has never rented before. I am also looking to join a rent gaurantee scheme and have qoutes around £300. What kind of criteria is the prospective tenant likely to have to meet in order that any gaurantee insurance is valid?

    Thanks

    #2
    ask her to pay a year up front!

    Comment


      #3
      Originally posted by i-spark View Post
      What kind of criteria is the prospective tenant likely to have to meet in order that any gaurantee insurance is valid?
      I can't imagine a single person, working part time will pass.
      So that's probably a non-starter.

      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


        #4
        She has agreed to pay 6 months in advance. I did think that myself jpkeates but she is due a pension to start soon. Would the tenant checks affordability take into consideration cash in savings and future pensions?

        Comment


          #5
          Future arrangements aren't going to affect checks now.
          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
            Sounds too risky to me

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              #7
              If she was n't renting before, then why does she find herself in this situation?

              Comment


                #8
                I think you're doing this in the wrong order i-spark. Surely the sequence should be:

                1. Join the NRLA
                2. Undertake landlord training
                3. Let the property
                4. Start self-managing

                Comment


                  #9
                  Originally posted by Flashback1966 View Post
                  If she was n't renting before, then why does she find herself in this situation?
                  Marriage breakdown, home owner who has had to sell and split the money. Has 80K+ in savings, part time job and pension.


                  DPT57, perhaps you are correct in your thoughts, i apreciatte the pitfalls and how quickly things can go bad.

                  I have joined the RLA now and am spending my evenings learning and educating myself. I have used an agent for 8 years to rent a property on and off and also had a 3 year period where i self managed so am aware of the need for Deposit schemes, gas checks, EPC's, right to rent booklets, ect. I am by no means an expert like most guys on here but for the 2 properties i have id like a go at self managment and am a quick learner. Also a tradesman so the jobs side of the business i can do myself.

                  The tenant issue is ofcourse the most stressfull thing and the element of it all i dislike as you can never be 100% sure about the person you are trusting with your investment. With the 3 tenants i have had at my 1st property i have been very wary even though they passed letting agent checks and had gaurantors, just natural to think that way for me i guess.

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