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View Full Version : An idea for the residential letting market.



Marky T
13-06-2007, 08:34 AM
I was thinking the other day about the problems that we have with tenancy agreements. Most tenants seem to think that they can leave half way through a tenancy without having to cover the rent for the term, some people will always be late with payments and go two months into arrears and then try and pay there way back causing landlords and letting agents a headache.

Obviously there are steps we can take by with Section 21, 8 notices etc but it seems to me the landlord that always end up out of pocket.

My idea is basically a credit/tenancy agreement. When we take out any finance/mortgage etc if we miss a payment we instantly recieve a letter and if it becomes serious we recieve a default on our credit rating. Why not have this with tenancy agreements. Every payment that is late or missed puts a strike on there credit rating if it isn't received within a certain time. It just seems to me that most of the time when a tenant is evicted that unless the landlord is willing to pay out further costs the tenant will keep a clean credit rating even though they could have been in a large amount of arrears.

lorenzo
13-06-2007, 10:19 AM
Seeing that you've posted this in the "Take a Break - for the less serious!" presumably you are not serious about this?

I have another suggestion that might make a few giggle; a mechanism whereby tenants can credit check and take references on potential LLs.

Noting the climbing number of muppet BTL repossessions, it could be a wise thing for tenants to do.

Marky T
13-06-2007, 11:36 AM
Seeing that you've posted this in the "Take a Break - for the less serious!" presumably you are not serious about this?

I have another suggestion that might make a few giggle; a mechanism whereby tenants can credit check and take references on potential LLs.

Noting the climbing number of muppet BTL repossessions, it could be a wise thing for tenants to do.

Well I thought I would post it in here as it was just an idea but if someone could move it into the questions thread that would be good.

longtalldee
13-06-2007, 13:17 PM
Dear Marky,
Please take a look at the Thread that I posted to get another perspective on credit.
http://www.landlordzone.co.uk/forums/showthread.php?t=6666
It would seem to me that a persons credit really does not give Landlords or Letting Agents any real or true idea as to whether they will pay their rent or not.
As someone who has (through no real fault of my own) been made bankrupt...I now have no store cards, credit cards, loans, credit or debts whatsover - but still have (and will for a long time) a very bad credit history because of this. Surely, I'm the best bet to any LL or LA as out of my salary the only commitments I will have is rent and bills. But LL/LA make it impossible for someone like me to get a property????