letting to a big company - do I need to reference?

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    letting to a big company - do I need to reference?

    I've just agreed to rent my flat to a large bank for one of their employees. My letting agent has said that even though they are a multinational financial institution we should still reference them but their relocation agent is having a fit about it as 'everything you need is online' & threatening to pull out of the deal. Is my letting agent being totally OTT or right to insist on referencing such a big company?
    ~Thanks very much
    Sarah

    #2
    It's up to you, but referencing a multinational might seem unnecessary. On the other hand, BCCI/Northern Rock/Icelandic banks...
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

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      #3
      Originally posted by DaMrs View Post
      Is my letting agent being totally OTT or right to insist on referencing such a big company?
      He is either a dolt or trying to drum up some extra cash.

      Comment


        #4
        Originally posted by DaMrs View Post
        My letting agent has said that even though they are a multinational financial institution we should still reference them
        So how exactly is the agent proposing to 'reference check' a multinational company? Hire a team of accountants for a couple of months to go through their accounts? Ask other multinational companies to provide letters confirming the company's good character and reliability?

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          #5
          For some reason you sound as though letting to a large multinational is a good thing. Letting to companies is not generally recommended. They will put their employee into the property and should that person leave their employ or move on then the company will place another employee in the property again and again and again. You will usually have no say in who that person is or any choice in the matter.

          It wouldn't suit me.

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            #6
            Contrary view: letting to company is not within Housing Act 1988, no need for deposit protection, and no need to worry about accuracy of s.8/s.21 Notices either. Despite my previous flippancy (most uncharacteristic of me), a large company is very unlikely to default on rent payment.
            JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
            1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
            2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
            3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
            4. *- Contact info: click on my name (blue-highlight link).

            Comment


              #7
              Originally posted by jeffrey View Post
              Contrary view: letting to company is not within Housing Act 1988, no need for deposit protection, and no need to worry about accuracy of s.8/s.21 Notices either. Despite my previous flippancy (most uncharacteristic of me), a large company is very unlikely to default on rent payment.
              True, but in my opinion there is more chance of damage from letting to people you have no control or choice over.

              If you want smokers or people with small kids or dogs then thats fine.....if you don't then you need to have more control over the choice of tenants.

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                #8
                Eh? The Letting Agreement to Co. (common-law contractual) can contain just the same restrictions on its sub-tenants' activities.
                JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                4. *- Contact info: click on my name (blue-highlight link).

                Comment


                  #9
                  But the landlord doesn't get to meet the potential tenant and relyies on the integrity of the company to pick and choose who the tenant will be.

                  I'm a great believer in meeting tenants......before it all goes Pete Tong.....I guess from your comments Jeffrey that you are not a landlord ?

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                    #10
                    Guess whatever you like. I know that I'd rather have contractual rights against:
                    a. Big Company (Global) plc; than against
                    b. Mr Little Person of no fixed abode.
                    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                    4. *- Contact info: click on my name (blue-highlight link).

                    Comment


                      #11
                      Also see this thread: http://www.landlordzone.co.uk/forums...ad.php?t=27184
                      JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
                      1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
                      2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
                      3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
                      4. *- Contact info: click on my name (blue-highlight link).

                      Comment

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