Richlist

[kerbut]

Please would you be kind enough to post your list of tenants not to take and your rent guarantee list , I want to print it out and give it to my sister in law who has always "cheap Jacked " it and has now got burned to the tune of £5k

[Richlist]

I hope these are the lists you are looking for...... I appreciate they may not suit all landlords.

TENANT SELECTION CRITERIA

Applications from thefollowing people are not acceptable under any circumstances

• Smokers.
• Pet owners (specifically dogs, cats or reptiles).
• Non English speakers.
• Those with resident children.
• Anyone in receipt of housing benefit or LHA.
• Those wanting Company lettings.
• Any letting that would results in overcrowding (eg parents with children in a 1 bedroom flat).
• Anyone running a business or commercial operation directly from the property.
• Applicants who have long lead times to moving in.
  
  Applications from thefollowing people will depend on circumstances
  
  
  
  
• Non working tenants…..including part time workers, unemployed, those looking for work, university students with/ without working partner are each considered on their own merits.
• Non resident children…..eg single, divorced, separated parent who looks after a child every other weekend may be OK. Would depend primarily on age of children.
• Lettings for less than 6 months…..normally requires higher rent to cover fixed costs.
• Poor references or no references or don’t qualify for RGI…..may require a home owning guarantor or rent period in advance.
• Age under 25......depends on the person, circumstances, maturity, job etc.

The most important thing that any potential landlord can do ischoose their tenants very very carefully.

1. Get Referencies.....bank, employer and previouslandlord.

2. Take out rent guarantee insurance.....its not expensive.

3. Get a home owning guarantor. Carry out reference checks on the guarantor.Give the guarantor a copy of the AST. Make sure the guarantor document is drawnup as a deed.

4. Don't let to people with pets or children......the risk of them giving youproblems are big.

5. Don’t let to anyone under 18(minors). Draw up your own limits….I prefer nobody under 25.

6. Don't let to smokers........you won't get rid of the smell.

7. Don’t do Company lets.

8. Don’t let to anyone on Housing Benefits.

8a. If you do choose to let to applicants onHousing Benefit CHECK that your mortgage & freeholder (if your property isleasehold) allows it.

9. Don't let to anyone who isn't working full time.

10. Inspect properties every 3 months.

11. Only let initially on a 6 month AST.....that way you can both part companyafter 6 months if you don't get on.

12. Use a reputable Lettings Agent OR one who has been recommended OR do ityourself (only if you know what to do).

13. Meet your tenants personally. Make sure you ask all the right questions andgauge whether they are right for you.

14. Protect the deposit in one of theofficial schemes.

14a. If you have a dispute with yourtenant(s) over deductions from the deposit remember…..you can either go throughthe DPS adjudication process OR take the tenant to the Small Claims Court forrecovery of your losses where you may have a better chance of success.

15. Issue a section 21 notice as soon as thedeposit has been protected.

16. Make sure there is a detailed inventory& schedule of condition……signed by both parties.

17. Remember its a business....soavoid emotion & being overly sympathetic to your tenants.

18. Read as much as you can aboutrenting & letting i.e. educate yourself.

19. Don’t let to anyone who doesn’tspeak or understand English.

20. Don’t forget that you will needan Energy Performance Certificate (EPC)…….beforeyou market the property.

21. Don’t forget to get an annual GasCertificate.

22. You are responsible for ensuringanything electrical in the property is safe so consider getting the electricschecked professionally….and any appliances you provide.

23. Try to avoid having your propertyclassified as an HMO……meeting regulations is expensive and time consuming.

24. Make sure all adults living atthe property are on the AST & any other documents.

• 
  

[kerbut]

Thats the one, thank you

[fit4life]

I hope these are the lists you are looking for...... I appreciate they may not suit all landlords.

TENANT SELECTION CRITERIA

Applications from thefollowing people are not acceptable under any circumstances

• Smokers.
• Pet owners (specifically dogs, cats or reptiles).
• Non English speakers.
• Those with resident children.
• Anyone in receipt of housing benefit or LHA.
• Those wanting Company lettings.
• Any letting that would results in overcrowding (eg parents with children in a 1 bedroom flat).
• Anyone running a business or commercial operation directly from the property.
• Applicants who have long lead times to moving in.
  
  Applications from thefollowing people will depend on circumstances
  
  
  
  
• Non working tenants…..including part time workers, unemployed, those looking for work, university students with/ without working partner are each considered on their own merits.
• Non resident children…..eg single, divorced, separated parent who looks after a child every other weekend may be OK. Would depend primarily on age of children.
• Lettings for less than 6 months…..normally requires higher rent to cover fixed costs.
• Poor references or no references or don't qualify for RGI…..may require a home owning guarantor or rent period in advance.
• Age under 25......depends on the person, circumstances, maturity, job etc.

The most important thing that any potential landlord can do ischoose their tenants very very carefully.

1. Get Referencies.....bank, employer and previouslandlord.

2. Take out rent guarantee insurance.....its not expensive.

3. Get a home owning guarantor. Carry out reference checks on the guarantor.Give the guarantor a copy of the AST. Make sure the guarantor document is drawnup as a deed.

4. Don't let to people with pets or children......the risk of them giving youproblems are big.

5. Don't let to anyone under 18(minors). Draw up your own limits….I prefer nobody under 25.

6. Don't let to smokers........you won't get rid of the smell.

7. Don't do Company lets.

8. Don't let to anyone on Housing Benefits.

8a. If you do choose to let to applicants onHousing Benefit CHECK that your mortgage & freeholder (if your property isleasehold) allows it.

9. Don't let to anyone who isn't working full time.

10. Inspect properties every 3 months.

11. Only let initially on a 6 month AST.....that way you can both part companyafter 6 months if you don't get on.

12. Use a reputable Lettings Agent OR one who has been recommended OR do ityourself (only if you know what to do).

13. Meet your tenants personally. Make sure you ask all the right questions andgauge whether they are right for you.

14. Protect the deposit in one of theofficial schemes.

14a. If you have a dispute with yourtenant(s) over deductions from the deposit remember…..you can either go throughthe DPS adjudication process OR take the tenant to the Small Claims Court forrecovery of your losses where you may have a better chance of success.

15. Issue a section 21 notice as soon as thedeposit has been protected.

16. Make sure there is a detailed inventory& schedule of condition……signed by both parties.

17. Remember its a business....soavoid emotion & being overly sympathetic to your tenants.

18. Read as much as you can aboutrenting & letting i.e. educate yourself.

19. Don't let to anyone who doesn'tspeak or understand English.

20. Don't forget that you will needan Energy Performance Certificate (EPC)…….beforeyou market the property.

21. Don't forget to get an annual GasCertificate.

22. You are responsible for ensuringanything electrical in the property is safe so consider getting the electricschecked professionally….and any appliances you provide.

23. Try to avoid having your propertyclassified as an HMO……meeting regulations is expensive and time consuming.

24. Make sure all adults living atthe property are on the AST & any other documents.

Hi Richlist,

Fab reply, Pls explain points (24)why all adults in property musy be on tenancy agreement, and how easy is it to get rent graurantee insurance(2) is this only given for employeed tenants?

thanks

[fit4life]

I hope these are the lists you are looking for...... I appreciate they may not suit all landlords.

TENANT SELECTION CRITERIA

Applications from thefollowing people are not acceptable under any circumstances

• Smokers.
• Pet owners (specifically dogs, cats or reptiles).
• Non English speakers.
• Those with resident children.
• Anyone in receipt of housing benefit or LHA.
• Those wanting Company lettings.
• Any letting that would results in overcrowding (eg parents with children in a 1 bedroom flat).
• Anyone running a business or commercial operation directly from the property.
• Applicants who have long lead times to moving in.
  
  Applications from thefollowing people will depend on circumstances
  
  
  
  
• Non working tenants…..including part time workers, unemployed, those looking for work, university students with/ without working partner are each considered on their own merits.
• Non resident children…..eg single, divorced, separated parent who looks after a child every other weekend may be OK. Would depend primarily on age of children.
• Lettings for less than 6 months…..normally requires higher rent to cover fixed costs.
• Poor references or no references or don't qualify for RGI…..may require a home owning guarantor or rent period in advance.
• Age under 25......depends on the person, circumstances, maturity, job etc.

The most important thing that any potential landlord can do ischoose their tenants very very carefully.

1. Get Referencies.....bank, employer and previouslandlord.

2. Take out rent guarantee insurance.....its not expensive.

3. Get a home owning guarantor. Carry out reference checks on the guarantor.Give the guarantor a copy of the AST. Make sure the guarantor document is drawnup as a deed.

4. Don't let to people with pets or children......the risk of them giving youproblems are big.

5. Don't let to anyone under 18(minors). Draw up your own limits….I prefer nobody under 25.

6. Don't let to smokers........you won't get rid of the smell.

7. Don't do Company lets.

8. Don't let to anyone on Housing Benefits.

8a. If you do choose to let to applicants onHousing Benefit CHECK that your mortgage & freeholder (if your property isleasehold) allows it.

9. Don't let to anyone who isn't working full time.

10. Inspect properties every 3 months.

11. Only let initially on a 6 month AST.....that way you can both part companyafter 6 months if you don't get on.

12. Use a reputable Lettings Agent OR one who has been recommended OR do ityourself (only if you know what to do).

13. Meet your tenants personally. Make sure you ask all the right questions andgauge whether they are right for you.

14. Protect the deposit in one of theofficial schemes.

14a. If you have a dispute with yourtenant(s) over deductions from the deposit remember…..you can either go throughthe DPS adjudication process OR take the tenant to the Small Claims Court forrecovery of your losses where you may have a better chance of success.

15. Issue a section 21 notice as soon as thedeposit has been protected.

16. Make sure there is a detailed inventory& schedule of condition……signed by both parties.

17. Remember its a business....soavoid emotion & being overly sympathetic to your tenants.

18. Read as much as you can aboutrenting & letting i.e. educate yourself.

19. Don't let to anyone who doesn'tspeak or understand English.

20. Don't forget that you will needan Energy Performance Certificate (EPC)…….beforeyou market the property.

21. Don't forget to get an annual GasCertificate.

22. You are responsible for ensuringanything electrical in the property is safe so consider getting the electricschecked professionally….and any appliances you provide.

23. Try to avoid having your propertyclassified as an HMO……meeting regulations is expensive and time consuming.

24. Make sure all adults living atthe property are on the AST & any other documents.

hi pls explain points 1 n 24 how easy is it to get rent gaurantte insurance?

[Richlist]

Letting property carries a lot of risks. Risk that your tenants won't pay, won't look after your property and /or will cause you a lot of expense. Anything you can do that minimises those risks has to be a good thing.

Imagine a scenario where you let your property to a couple but only put one of them on the tenancy agreement. Some time later they split up, the female moves out leaving the boyfriend in situ. Thats gonna present you with a lot of challenges and potentially a big hit in your pocket. Best to get them ALL onto the AST at the start.

Rent guarantee insurance is readily available from various sources. Applicants have to meet the insurers criteria to qualify for the insurance. The insurers will carry out reference and credit checks before offering the cover. Its not about how easy it is to get, I'd still recommend it even if it was extremely difficult. Its a means of reducing risk and a way of getting someone else to handle the applicants references. I always insist on RGI or a home owning guarantor.