Under 18s?

[medawil]

Hello

I have just found some new tenants, a couple and one of their sisters. I am unsure about whether the sister (who is under 18) should or can sign the tenancy agreement? As they are related, maybe there is no need, but as neither of the parents are going to be there, maybe this doesnt count? I am worried that if I do not include her on the tenancy, then this might have implications for the insurance policy or the buy to let mortgage conditions? I dont know where to start! Any advice welcome

[Mortitia]

Hi Angie,

I think you need to pay a lot of attention to how these 3 are going to pay the rent - is it in equal shares and check CAREFULLY where the income is coming from? Check their employers references in detail.

How old is the under 18 and are they working? How is this person going to pay their share of the rent? I would take the following precautions with any tenants under 21 as they are more likely to default over the rent. I don't think I would rent to any one under 17.

Make sure you photocopy and keep photographic ID for all three tenants.

Make sure you carry out a 'credit check' on all 3 to make sure they are not in debt already. Details on this site of agencies who do this work.

You must include everyone (including a 17 yr old) on the tenancy who is going to live there.

With anyone under 21 I like to get a guarantor - that is an older person who guarantees (by signing a document) to pay the rent if the tenants don't. Get them to ask a parent, other relative or responsible adult. If no one will vouch for them in this way you are taking a big risk.

I doubt if you will be infringing the terms of the mortgage but you should inform the insurers if you have a tenant under 18 just as a courtesy.

Best of luck,

Mortitia

[Melboy]

Everything that Mortitia has said...........

Check and double check before letting anyone into your property.

Mel.