The value of tenant checks...

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    #16
    Originally posted by sam_cat View Post
    one couple has filled it all out very quickly, and rapidly it came back with lots of red flags (no history for him, not registered and any of their previous addresses they gave, 4 active CCJs totaling nearly £4k of debt).. asked them about the CCJ's and they have now withdrawn their interest as we are asking too many questions, apparently most other private lets are much more straightforward.

    I salute your thoroughness, them saying we are no longer interested because you ask too many questions is just a cop out way of saying you have rumbled us. The other 'straightforward' lets are probably poorer quality properties or naive landlords or both.
    Any advice I give is my opinion and experience, I am as you also learning.

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      #17
      Two related threads have been merged.
      I also post as Mars_Mug when not moderating

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        #18
        950pcm, small town just north of Bristol with good schools. 3 bed semi.
        Estate agent/market seems to agree and dont think I would get any interest at 1k


        Originally posted by sunnyp View Post
        I salute your thoroughness, them saying we are no longer interested because you ask too many questions is just a cop out way of saying you have rumbled us. The other 'straightforward' lets are probably poorer quality properties or naive landlords or both.
        My thoughts exactly.. the other half is telling me to not be so harsh, but we have a queue of people wanting to see it, so I think I can afford to be picky.

        On the flip side, we have another couple interested but they have told us before doing any checks that it will flag up a CCJ from a few years ago when they both lost their jobs at the same time. I welcome their honesty, so will see what the rest of the checks throw up.

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          #19
          Originally posted by Moderator2 View Post
          Two related threads have been merged.
          Sorry, realised after I posted it that it would probably have been a good addition to the existing thread.

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            #20
            Originally posted by sam_cat View Post

            On the flip side, we have another couple interested but they have told us before doing any checks that it will flag up a CCJ from a few years ago when they both lost their jobs at the same time. I welcome their honesty, so will see what the rest of the checks throw up.
            I have taken tenants on after they revealed a CCJ from the past and even an IVO but they had a successful 3 years in one of my lets going on to buy their own home.

            Careful checking with the employer is vital - I do tenant verify but also look at social media, Linkdin or just google the names. You would be amazed what comes up. Most recently a Tenant Verify person checked out but the internet revealed he had enrolled himself on and was using a teen dating website (he is 46). He already had 2 other homes in the area and owned an HMO - wonder what he wanted my 2 bed flat for? In the end my agent had to agree it was dodgy.

            It is said that if 70% of the population had to find £100 extra for an emergency bill in a month they would have to borrow it in some way. I suspect credit card debt accounts for a lot of bad payers but this would be invisible to the landlord checks.



            Freedom at the point of zero............

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              #21
              OH and I have learned our lesson too! Trusted all the marketing rubbish the agent through at us, ensuring a very high level vetting of prospective tenants, blah blah blah. It turned out that they approve a couple we had some worries about, but reassured us they had passed all the checks with flying colours. What they fell to inform us about is that most of their income was made up of tax credits for three children and worse that 2 of the three children were at college, and therefore that their tax credits would soon significantly reduced.

              Inevitably, this is what happened and they couldn't afford the rent any longer. They didn't tell us that they had started to claim HB but that it didn't come close to cover the rent. Ended up with rent unpaid, thankfully, they left before we started the proceedings.

              This time, we will be much harsher on checks. After two bad experiences, we are prepared to sell if we can't find tenants who are highly likely to pay every month and care for their home. So yes, we will do as many thorough checks as we can and if people have issues with it, then they won't be the right tenants for us.

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                #22
                Interlaken,

                Agreed, bad things happen to good people, thats life.
                Have done the social media thing, its a small town and it turns out that we have a number of 'friends' (facebook) in common, have asked a couple that I am very close to if they are normal human beings, potential problems or dont really know them and both have said they are normal human beings.. Reassuring.
                They have also offered to put down over double the deposit incase I am worried about their history/ccj's.. This also helps with my confidence in them.

                I guess at the end of the day its all about gut feeling and building up a picture of the person.. wont ever be perfect. Getting a good feeling about this couple (2 of them and 3 kids).

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                  #23
                  sam_cat, like you, property is 3 bed semi in residential area, close to good schools, large rooms, so inevitably attracts families with children. Ideally we would love a retired couple rather than a family relying highly on tax credits (which from my perspective are benefits anyway) with kids much more likely to make a mess of the walls and carpets.

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                    #24
                    Yes and no... I quite like the idea of a young family, as the good schools locally and increasing rents/house prices mean that they will (probably) be longer term tenants.. Hopefully.
                    yes its additional wear and tear, but it the house needs new carpets and painting top to toe in five years then so be it, by then I will have had a healthy amount of rent from them, and am gradually building up a 'war pot' of money for when the boiler goes bang or some other problem, and to cover voids/decorating between T's etc.

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                      #25
                      That's fine, but my experience is that we had to replace all carpets and repaint all the walls twice in under 5 years, so very costly. I also wouldn't mind so much if it was once every 5 years or so. First tenants said they were desperate for long term, but then gave notice because they separated. Second said exactly the same, again, because of kids and schools, but then after they lost their tax credits couldn't afford it any longer.

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                        #26
                        Okay, thanks for the input!
                        Am fairly new to this, so its all a learning curve and happy to hear what others share that have been doing it longer.

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                          #27
                          Not everyone has bad experienced and I do believe that it is very hard to get a 'feel' of people. The two families on either side of the property we live in rent. The family on our right looks very rough, tatoos, unpleasant, never say hello and kids a nightmare always shouting screaming, regular swearing etc... BUT, their garden has always been immaculate and very well tendered. They are always in it, cutting the grass, trimming trees, cleaning gutters etc.. I can only assume they take the same care of the inside of the house.

                          The tenants on the right are the exact opposite. They are friendly, look very presentable and kids very well behaved. Their garden is a tip though and they just don't care for it. Residual stuff keep piling up, it's all over grown, just looks very neglected. I've only been in the house twice to deliver packages but both time it looked like a tip.

                          I do believe there is an element of luck no matter what but ultimately, it is up to the landlord to decide whether to keep a tenant that seems to have lower standards than hoped for or to to take the risk of some financial lost whilst looking for better tenants and hoping to be luckier that time.

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