Only being offered tenants with guarantors

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    Only being offered tenants with guarantors

    Not one tenant without a guarantor. The problem seems to be a lot have only been in a job a short while. Complicated

    #2
    You mean not one tenant you you think does not need a guarantor. Sounds as if you had best leave the property vacant then doesn't it (student lettings excepted)?

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      #3
      They have high salaries but have not been at their job particular job the desired 2 years That is why LA need guarantor

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        #4
        I'd think about offering a 6 months tenancy (I always do this anyway) and asking for a work ref to say that they'll be in work for the next 6 months. And do all the usual checks. Is your rent far above the local HB rate?

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          #5
          Originally posted by Celibin View Post
          They have high salaries but have not been at their job particular job the desired 2 years That is why LA need guarantor
          It is you that decides on your needs not the LA. Do they for example have 100K in the bank? I have spent a large part of my life "not been at their job particular job the desired 2 years".....

          Ask the LA why, if they are not suitable, that they think a guarantor will help. If they are nopt suitable then they are not suitable with or without a guarantor. A guarantor can sometimes be helpful when tenants ARE perfectly suitable - it is not a substitute for suitability under the current circumstances (in the old days when you could terminate a tenancy agreement without incurring massive cost that did not apply - then you could afford to help people in uncertain circumstances - those days of mutual help have been eliminated).

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            #6
            La have a reference from employer stating they will pay the rent . The guarantor is a back up given it is a 6 month notice period now

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              #7
              Sounds like they're being over-cautious.

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                #8
                To answer your previous question the rent in £100 pcm above the LHA

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                  #9
                  Having the employer offer to pay rent isn't worth a bean unless they are party to the contract.

                  By LHA do you mean that they are in receipt of this, or it's just theoretical?

                  Maybe give us an idea what sorts of tenants are being passed to you by LA i.e.

                  Savings in the bank £________
                  Annual income £__________
                  What sort of job ___________
                  Rent £_____________

                  But the employer offering to pay might be your way in with a proper contract (and being careful how you protect deposits etc., if from a 2rd party). Employer should be the guarantor, and the employer themselves needs to be a proper company with lots of assets, not just the local chippie.

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                    #10
                    LA works for you, inform them of type of T acceptable to you eg 6/12 month Fixed Term.
                    Employer may be useless if he sacks his employee.

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                      #11
                      A guarantor is great, we only accept as guarantors of merit those who are on the title of any property at HMLR.

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                        #12
                        Originally posted by flyingfreehold View Post
                        A guarantor is great, we only accept as guarantors of merit those who are on the title of any property at HMLR.
                        And when the fixed term is over (which is when problems often arise) you do realise that guarantor agreements are unlikely to be possible to use? Guarantors are not locked into an interminably renewable deed especially if the underlying contract changes (e.g. you increase the rent by 1 penny).

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                          #13
                          I would only sign a contract with me and the tenant If the employers wants to pay the rent that is up to them I think the agents are not very good But they do have a HMLR guarantor with a big salary

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                            #14
                            So difficult to enforce guarantor agreement even if it says it goes on after the initial fixed term?

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                              #15
                              Originally posted by Celibin View Post
                              they do have a HMLR guarantor with a big salary
                              So what? How do you think that helps exactly?

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