Should I take on this self employed tenant?

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    Should I take on this self employed tenant?

    Our letting agent has just contacted us to say they have had an application for our property but the applicant is currently a non-working self employed painter & decorator?! He can't provide a guarantor but can pay 6 months rent in advance.

    The agency has so far undertaken a credit check and landlord reference which have both come back fine. They have said they can obtain another landlord reference, character reference and ask for proof of financial status if we are interested.

    Gut feeling is saying no but would be interested to hear other opinions please on what we should ask for if we decide to go ahead.

    Has he got proof of where the 6 months rent in advance came from?
    Allow tenants to protect their own deposits. I want free money when they do it wrong


      I had this sort of applicant once for my brother in laws property - self employed working painter, no accounts. My guts said no, but BIL insisted I took him on.

      All went well for about 3/4 months, then rent started being slightly late, then very late then not at all. Eventually he left owing quite a bit which was subsequently nearly all recovered via court order.

      People's circumstances change - what may start out as a good decision may end up a bad one through tenant's illness or a plain and simple decision to pay 6 months up front and then spend the next six months living at the landlords expense.

      Balance the above against "could I get anyone better given the state of the economy at the moment" If the prospect has a clean sheet up to present - I would be inclined, on balance to accept him subject to the agents further recommended checks.


        Originally posted by thesaint View Post
        Has he got proof of where the 6 months rent in advance came from?
        I would need to double check but a property sale has been mentioned so not sure if that is the source.

        My gut instinct is to say no after a recent bad experience with a housing benefit tenant who the letting agent recommended as they had a guarantor. On the other hand we have a tenant in another property who we took on almost 4 years ago with no rent references or credit checks being carried out and he has been a model tenant.


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