When doing DIY vetting - Charge upfront fee to potential T?

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    When doing DIY vetting - Charge upfront fee to potential T?

    I see that LA's charge tenants an upfront fee to cover the costs of credit checking and time to check references (in addition to charging the L for the same service!) Whilst I think this is a bit cheeky I can see it would be a useful tool to weed out people that are not seriously interested in your property.

    Do other L's do this or do you maybe take a holding deposit and knock that off the deposit and just take the cost of the credit checks yourself?

    #2
    I don't charge for referencing, but I know a couple of LLs who do. They then wiaive the fee if the tenancy goes ahead. The idea I guess is to weed out time-wasters.

    I do however take a holding deposit of half the first months rent while I'm referencing. This shows me that the potential tenant is serious and has access to funds. If for some reason I decide I don't want to proceed, then I usually return the whole deposit. Unless they have been deliberately deceptive or have stalled me in some way. In which case I charge them an admin fee and return the balance.
    IANAL (I am not a lawyer). Anything I say here is just an opinion, so should not be relied upon! Always check your facts with a professional who really knows their onions.

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      #3
      I charge at cost for referencing (around £30). This is non-refundable. The form which needs to be filled in scares off many would-be tenants and they do not return it and do not pay the fee.
      Unshackled by the chains of idle vanity, A modest manatee, that's me

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        #4
        Yes tenantverify's form is pretty formidable. They would have to be pretty determined tinewasters to go through all that I guess.

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          #5
          Certainly at he lower end of the market (where I am) it is amazing how requests for references or even credit checks on guarantors can be followed by a realisation that the property is not going to be suitable.

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