Credit checks and all that!!! - Page 2

longtalldee · #11 13-06-2007, 02:44 PM

Well, I've been out and put up notices in several post offices/shops ect....
and I've got until 7th September to move out of my current property. But considering the fact that property is in demand in this area and tenants with perfect credit histories aren't - then I think I'm up the creek without a paddle.

samantha1609 · #12 13-06-2007, 02:52 PM

With regards to the agents saying that you will loose your money because of your bad credit if you go through referencing... that is normally the situation if a prospective tenant hasn't declared their bad credit and then it shows up on the credit search - not if you have already declared it - at least in the four agencies I've worked at and the numerous others I've dealt with that is the norm.

Is there any possibility that you can pay a few months in advance?
When I have a prospective tenant with poor credit history (and they have declared it) I will suggest the following:

Increased deposit
Larger amount of rent in advance
Guarantor
All monies for the entire tenancy in advance.

If you can add in a couple of these - you may find that agents are a bit more responsive.
Unfortunately - if a landlord has a form of rent guarantee - it is very likely that the insurance provider will not let a tenant with a CCJ etc take the property as it will void the insurance.

longtalldee · #13 13-06-2007, 03:16 PM

Hi Samantha,
I have though abouth these options however average rent for a decent property in this area is £700 pcm with a £1000 bond. Ok, that is bearable...I could possibly push to three months plus bond which would be a payment of £3100 but I've had some agents asking for 6 months plus bond (payment for whole of AST). This, I can not do, I would have to go bankrupt again (only joking - never going down that route again!!!).
There are other options which you or other forum members might be able to advise me on...
1. I could get my MD to be my guatantor and pay the rent direct out of my salary from Company account to LA/LL (there would have to be some stipulation that he would only be my guarantor and payments could only be made whilst I was working for the Company).
2. I could ask the Company to rent the property for me? If this was an option then what do LL/LA look at when it's a Company application?
3. I could go down the route of approaching LL direct (nobody has commented on this yet - is it a bad idea?). I know if LA are reading this you might not be very happy, but I hope you can understand why I might have to do this.

Can anyone confirm that your Guarantor has to be resident in UK and if there is an age stipulation?

samantha1609 · #14 13-06-2007, 03:56 PM

A guarantor has to be:
uk resident and registered at that address
working (whether employed or self employed) or have a pension income of (normally) 3 times the annual rental of the property.

with response to
1. If the MD was guarantor - then the rent could still be paid to the la/ll as normal. If you do not pay then obviously the MD would be liable to fulfill obligations as guarantor. To be honest - I don't think it is the best idea as it doesn't really offer any security as you could up and leave your job, not pay the rent etc (not saying you would!) - leaving the guarantor null and void and I don't think any LA/LL would accept that the guarantors liability would cease if you left the company.
2. If it is a company let, then the company would be referenced giving a credit and risk score for the company. (Not honestly 100% sure what they check on) This would not be an Assured Shorthold Tenancy under a company let. Different terms apply.
3. I am a LA and to be honest no I wouldn't be happy - but if you approached the landlord and they said yes, I'd be kicking myself thinking why didn't I suggest her/put her forward and you should as a LA know how a landlord will respond to people in your situation, because some may be more flexible and open to ideas etc.

Hope that helps!

Sam

longtalldee · #15 13-06-2007, 04:29 PM

Hi Samantha,
Thank you for your posts. After careful consideration and reading your posts, I've decided not to get my Company involved at all. I think that it's best avoided. My Mum as guarantor is then out of the question, as she lives in Ireland. So, I've decided to go for the two prong approach.
1. Speak to the 2 biggest letting agents in this area and throw myself at their mercy.
2. Back up plan - if above does not work, approach LL direct.
I think then that I'm being fair to everyone, by giving LA a chance to accept me first and if not, then going behind their backs.
In the meantime put wanted ad in property section of local paper (as I'm guessing that anyone thinking of renting their property would have a look in this to see what the competition was and how much they were charging)

longtalldee · #16 13-06-2007, 05:01 PM

I have just been looking at LA web sites for available property and guess what???? One agency has literally just put up a house on their site that is 6 doors down from me. Although I don't know the people I am going to be brave and knock on their door. The house is a mirror image of the one I'm in at present (my cottage is on one end of the terrace row - this one is on the other!!!). How cool is that!!!!
Wish me luck...

sharemaster2 · #17 14-06-2007, 11:42 AM

Quote:

Originally Posted by longtalldee

I have just been looking at LA web sites for available property and guess what???? One agency has literally just put up a house on their site that is 6 doors down from me. Although I don't know the people I am going to be brave and knock on their door. The house is a mirror image of the one I'm in at present (my cottage is on one end of the terrace row - this one is on the other!!!). How cool is that!!!!
Wish me luck...

Hi there, why then are you moving from where you live now anyway, as I do not recall you saying why you had to move. Also, the option of going to L/L directly helps a lot. When you do, have half or most of the CASH you will pay in fifties and let the L/L see it as your willingness and strong intent to pay. You will be surprised at the sort of respnce you get by the time the l/l has seen the CASH and also mention that they will not need to pay any AGENCY commission so all that money is there. There is a saying that goes " Money TALKS"

sharemaster2 · #18 14-06-2007, 11:42 AM

Quote:

Originally Posted by longtalldee

I have just been looking at LA web sites for available property and guess what???? One agency has literally just put up a house on their site that is 6 doors down from me. Although I don't know the people I am going to be brave and knock on their door. The house is a mirror image of the one I'm in at present (my cottage is on one end of the terrace row - this one is on the other!!!). How cool is that!!!!
Wish me luck...

Hi there, why then are you moving from where you live now anyway, as I do not recall you saying why you had to move. Also, the option of going to L/L directly helps a lot. When you do, have half or most of the CASH you will pay in fifties and let the L/L see it as your willingness and strong intent to pay. You will be surprised at the sort of respnce you get by the time the l/l has seen the CASH and also mention that they will not need to pay any AGENCY commission so all that money is there. There is a saying that goes " Money TALKS"

jeffrey · #19 14-06-2007, 11:45 AM

Duplicate post.
With LOTS of WORDS in CAPITALS distributed RANDOMLY.

bill65 · #20 14-06-2007, 11:50 AM

Here is a good site for putting landlord and tenant in contact with each other!
http://www.netrent.co.uk/netrent_home/default.aspx