Very young applicants with modest income

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  • Very young applicants with modest income

    Hi,

    I am about to become a private landlord and have been impressed by the generous help given on this forum, so I wonder if anyone could give me an opinion on this.

    Having advertised in the local paper, I have received an application from a young couple for a tenancy in my one-bedroom house at a monthly rent of £525. I estimate that the utility bills and council tax would be about £150 per month. The female applicant is 20, employed with a declared gross income of £12,000. Her boyfriend will only turn 17 this month, so although he is apparently employed, so presumably he is too young even to be mentioned in a tenancy agreement. The initial enquiry about the house came from the woman's mother who seems supportive and enthusiastic but has not offered a guarantee despite my dropping it into the conversation.

    Would it be unwise to take this on? If I did, should I insist on a guarantor, and should the tenancy agreement or any other document make reference to the applicant who is under eighteen? Are there other pitfalls I ought to consider?

    I would appreciate any advice.
    Thanks
    Direct

  • #2
    Wouldn't touch with bargepole. They are too young and cannot get a guarantor.

    Comment


    • #3
      Originally posted by Direct View Post
      The initial enquiry about the house came from the woman's mother who seems supportive and enthusiastic but has not offered a guarantee despite my dropping it into the conversation.
      Put the onus on them:

      Say yes, with the condition that mother is a guarantor. If mother declines, you have your answer as to their reliability.
      On some things I am very knowledgeable, on other things I am stupid. Trouble is, sometimes I discover that the former is the latter or vice versa, and I don't know this until later - maybe even much later. Because of the number of posts I have done, I am now a Senior Member. However, read anything I write with the above in mind.

      Comment


      • #4
        I have had an identical experience, and bingo from month 1 the T started complaining that she could not afford the rent, I am now into £2ks worth or arrears.
        By the way the G was also her mum, who has squat to her name so no come back here.

        Please give it a wide berth, short term loss is better than grief in the longer term.

        Cheers

        Comment


        • #5
          "The female applicant's...boyfriend will only turn 17 this month, so...presumably he is too young even to be mentioned in a tenancy agreement."

          Yes- those <18 are not legally competent to hold a legal interest such as a tenancy, AND one could not easily sue them either since they are not contractually bound except on a "contract for necessaries" (eg for food, travel fare, and small consumer items).
          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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          • #6
            Originally posted by taheemr View Post
            I have had an identical experience, and bingo from month 1 the T started complaining that she could not afford the rent, I am now into £2ks worth or arrears.
            By the way the G was also her mum, who has squat to her name so no come back here.

            Please give it a wide berth, short term loss is better than grief in the longer term.

            Cheers
            Then may I suggest that your initial referencing checks were deficient.

            Before accepting any guarantor, any landlord should make it standard procedure to check their credentials - particularly that they have an income/salary in excess of 3 x the rent guaranteed, and that their financial record is clean and residency is confirmed by the credit reference agency with regard to the credit check.
            On some things I am very knowledgeable, on other things I am stupid. Trouble is, sometimes I discover that the former is the latter or vice versa, and I don't know this until later - maybe even much later. Because of the number of posts I have done, I am now a Senior Member. However, read anything I write with the above in mind.

            Comment


            • #7
              Originally posted by Esio Trot View Post
              Put the onus on them:

              Say yes, with the condition that mother is a guarantor. If mother declines, you have your answer as to their reliability.
              So simple! I will try this, thank you. Thanks also to everyone else - it all helped.

              Comment

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