Would you rent to ex armed forces with guaranteed HB?

[emmy1979]

Hello,

I'm new here. My husband and I are 'reluctant landlords' due to the housing market - we have been trying to sell our 2 bed terrace for 2 years. Due to a new addition (Child number 3) our property has been up to let with an agent for two weeks and we have had two viewers.

Agent has returned to us to say one of the viewers would like our property. However, the snag is the young couple (with a 2 year old child) are ex armed forces who are both unemployed. The local council approached the agent and said they are willing to pay the agents admin fee (£180), bond (£525) and montly rent (£425) for this couple until one of them finds employment. They will put this in writing.

Would any of you advise if this sounds risky? I met the man and he seemed lovely to be honest but my husband is unsure due to the fact they are unemployed? I'm a bit more liberal and think if the council will put in writing a guarantee to pay the rent then we should be fine. Any advice/ anyone with similar experiences would be greatly appreciated.

Thanks.

[Snorkerz]

Ultimately, no one can answer your question but you. There are millions of benefit claimants, so saying an outright 'no' is a rather narrow minded viewpoint, and I'm sure many ex-servicemen deserve our undying gratitude. However, this page outlines some of the things you may want to consider: http://tenancyanswers.ucoz.com/index/tenants_on_benefits/0-54

[emmy1979]

Thank you. That link was very helpful. I suppose because we're new to this we don't want to make any naive decisions but going on my gut instinct I'd say the couple will be good tenants. We might not be the greatest landlords though, with our novice ways!:(nod):

[Snorkerz]

We might not be the greatest landlords though, with our novice ways!:(nod):Pick up a book from Amazon along the lines of "An Idiots Guide to being a Landlord", cost you well under £20 and save you alienating good tenants by accidentally being bad landlords.

[mind the gap]

Or read Landlordzone for 10 minutes every night before you go to bed!:)

[islandgirl]

glad I am not the only one who does that

[ram]

Would any of you advise if this sounds risky?.

The first rule of letting should be :-

You let to people who are in full time jobs, AND can afford the rent.

Then you go down the list till you get to people who do not work
and cannot afford the rent.
Why would you want to rent to people who cannot affort to pay you rent ?
as that is what you are considering.
( no arguments, please about LHA, as we all know they wont pay the full
rent if it is over the rates in the "rents table" they have on their desk. And
LHA claimemnts shows they cannot afford the rent.)

Only as a last resort, you are in dire straights, should you consider someone
who cannot afford to pay the rent from their wages.

If you are new landlords, take step one first ( working people ), then
read the tales of horror on here about thoae who don't work.
( Yes, we know there are horrors on here evenwhen people work full time,
but best to be safe in your infancy of "renting" -- yes ?

R.a.M.