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View Full Version : How to choose betweeen "good tenants?"



jai
19-03-2007, 13:36 PM
Hey guys.

1 property up for rent again and I have a dilemma. I have 3 sets of potentially good tenants who I havent screened yet but wanted to get your opinions.

Background - The house is bang on a university doorstep and backs on to a primary school.

Set 1 - Girl and boy, Malaysian international students, very polite, respectful etc - good overall impression, met several times willing to sign 12 month contract, didnt negotiate on rent. But guarantor will be in Malaysia so very difficult to track down. Asking for 2 months rent as deposit as security for this. Awaiting credit checks

Set 2 - 2 English girls also uni students, again polite good overall impression. Willing to sign 11 month contract and didnt negotiate rent. Parents agreed to be guarantors. However 1 has a boyfriend who will be staying over a lot. Plus quite pretty so I would imagine have lots of guy friends who would come over to the house and all the bad things that uni students are known for happening etc. Awaiting credit checks

Set 3 - Mother and 2 daughters who go to the school next door. Saving for 6 months to move out of her mothers. Want's to stay long term, i.e more than a year. Didnt negotiate the rent. Works full time. But some apprehension as where is the partner? Will she have men over all the time? Will she stay in the house long term even if she loses her job etc. All these concerns/fears going through my head!

I know I'm stereotyping but these are all concerns that I have. I see them all as potentially good tenants maybe in the order 1,3,2. But how do you choose?

Should I charge them all an admin fee to do credit checks and see which one comes up the best or should I just go for the long term tenant.

Very confused!!???!!!??!!?

Any help would be greatly appreciated

Regards

justaboutsane
19-03-2007, 16:01 PM
A guarantor in Malaysia is not worth the paper its written on.. how can you sue them for money owed??

Pretty girls do not always equal lots of male guests but I can see where you are coming from!

A single Mum is again not necessarily going to have lots of male guests... I was a single mum for 4 years, went on one date and then found my current partner! However I do have alot of male school friends so my neighbours may have found it odd that I hugged all my male visitors as they arrived and left!!!

Go with your Gut as well as the facts on paper.

jai
19-03-2007, 16:05 PM
justaboutsane.

Thanks, I'm not having a go at single mums. My mum is and has been for 18 years. It was just the thought of the kids in the house too.

My gut is to go with the malay's as they will give me 2 months rent as deposit and I'm happy with that. In my experience International students are here to study above all else and they are usually fairly well off to afford the uni fees.

Regards

rewop46
19-03-2007, 17:15 PM
justaboutsane.

Thanks, I'm not having a go at single mums. My mum is and has been for 18 years. It was just the thought of the kids in the house too.

My gut is to go with the malay's as they will give me 2 months rent as deposit and I'm happy with that. In my experience International students are here to study above all else and they are usually fairly well off to afford the uni fees.

Regards

jai

You have it exactly right, gut is good and Asian foreign students are usually from well off, respectable families. They seem to know how to behave and respect business people. They understand that you have to pay for things in this world. We've never had any trouble from these people at all. It is usual for these people to pay 6 months in advance as well.

As has been remarked, guarantor not worth anything but after a while in this business you will be able to trust your own judgement.

Always look for evidence of "streetwise".

Single mum: can she afford it on her own; any husband around to cause trouble? If she has children you will tend to be too soft hearted when she's in trouble.

Girl students: Good that mums are guarantors. Good students/ bad students; no way of telling if first time of renting. If not, why are they coming to you?

rewop

jai
19-03-2007, 18:36 PM
thanks rewop.

Re the girls they are 2nd year students and this is their first time renting a house so no way of knowing, however this is the same situation as the malay's.

The girls are so desperate that they even offered to pay £5 a week each more rent. But im not that greedy and would rather have a good tenant than an extra £40 a month.

It is also true that the mum is a huge unknown and she has very young kids. I've nothing against her but there are too many things that could go wrong in that situation.

Do you think I should ask for 6 months rent upfront if I do go with the internationals? I was simply going to ask for 2 months rent as a deposit.

Regards

rewop46
19-03-2007, 19:16 PM
thanks rewop.

Do you think I should ask for 6 months rent upfront if I do go with the internationals? I was simply going to ask for 2 months rent as a deposit.

Regards

Sorry, I mis-led you there. I wouldn't demand this, they'll just walk otherwise; it's something they sometimes do. If you explain that because they have no credible guarantor you would prefer two months as deposit. If they start negotiating then have second thoughts.

The reason they offer 6 months is to do with getting the money transferred from there country of origin. Their parents usually put this into their bank account to start them off. Something us British parents wouldn't do as their kids would piss it up against the wall in the first month (anyone disagree with that?) (I thought not):(

Best of luck,

rewop

Ericthelobster
19-03-2007, 19:19 PM
Should I charge them all an admin fee to do credit checks and see which one comes up the best or should I just go for the long term tenant.Firstly I think that would be pretty unfair on the two unsuccessful applicants, and secondly, I don't think that's how you should view a credit check. As far as I am concerned, I judge applicants by the interview, their references, income, etc and gut feeling - I then carry out te full credit check on my preferred choice and providing that turns out "OK", then we have a deal. I certainly wouldn't ever use that as the major selection criterion, and credit scores are really so arbitrary that the idea of ranking applicants' suitability based on that is a non-starter.

rewop46
19-03-2007, 22:08 PM
Jai, can I just come in once more on this.

Eric and I have actually agreed on something very important here -gut instinct - Tenants can pass all the tests under the sun and still stitch you up (did you watch Pacific Heights yet?).

Your initial feeling is always the most important. Look at how their eyes move, their hands, their feet. If they are a couple, does one look uncomfortable while the other one is full of it.

I could write a book on this subject but I think you get the general idea.

rewop

jai
19-03-2007, 22:24 PM
Thanks rewop.

I too believe that gut instinct combined with proper procedures is the best way to go. I consider myself to be a pretty good judge of character and have studied NLP, body language, psychology and the like, hence my assumption that all 3 will essentially be "good tenants."

Thanks and regards

Joannepowell
19-03-2007, 23:30 PM
Sorry, I mis-led you there. I wouldn't demand this, they'll just walk otherwise; it's something they sometimes do. If you explain that because they have no credible guarantor you would prefer two months as deposit. If they start negotiating then have second thoughts.

The reason they offer 6 months is to do with getting the money transferred from there country of origin. Their parents usually put this into their bank account to start them off. Something us British parents wouldn't do as their kids would piss it up against the wall in the first month (anyone disagree with that?) (I thought not)

Best of luck,

rewop


PMSL at the thought of my daughters trying to p UP a wall.... :D My daughters are very talented but that is one skill they havn't yet mastered! Though I did teach them to stamp their feet.....

LOL

J

rewop46
20-03-2007, 06:43 AM
PMSL at the thought of my daughters trying to p UP a wall.... (pinched your smilie) My daughters are very talented but that is one skill they havn't yet mastered! Though I did teach them to stamp their feet.....

LOL

J

D How long ago was it since you went to uni?

The young ladies of today can drink most men under the table AND write there name in the snow (if you follow my drift) :rolleyes:

(the knowledgeable) rewop

Jai Apologies for de-railing your thread but some (senior) members just haven't got anything better to do (........please insert suitable acronym in here.......).

GothicFaerie
20-03-2007, 09:45 AM
Personally I would go with the single mum,

We're privatly renting, with 3 kids, and they dont cause that much mayhem, nothing that cant be cleaned by the renter anyway.

And as for wondering if guys would be coming over all the time, speaking more for myself here, but with 2 daughters theres no way you'd have random blokes over all the time, there simply isnt time!

As for students, i've only ever watched 'tennants from hell' so really couldnt give an opinion.

Just thought i'd add me 2 pence worth

Esio Trot
20-03-2007, 14:40 PM
Always look for evidence of "streetwise".
rewop

Would you mind expanding on your comment above, please.

Are you saying that the tenant should or should not be streetwise? What constitutes being streetwise?

rewop46
20-03-2007, 15:04 PM
Would you mind expanding on your comment above, please.

Are you saying that the tenant should or should not be streetwise? What constitutes being streetwise?


I'm sorry my friend, it would take too long to explain. It's just something I pick up on and regret not having taken notice of it when a tenant rips me off.

It's natural to me but now I've realised that I should clarify this because "streetwise" doesn't necessary mean bad.

Thank you for bringing this up; you've give me something to think about.

rewop :confused: