Overseas tenants

[lizzieb]

Hi there

I have decided, like many others it seems, that I am fed up with the poor standards and lack of work done by most letting agents and have decided to go it alone.

I have interviewed a very nice couple ( post graduate, mid twenties ) who have recently moved here from S. Africa but I am concerned that there will be no way of checking their credit references etc.

I have got them to fill out an application form etc. and they both have U.K. Bank a/cs, are working for good companies, have savings a/cs. I have seen their work and residential visas, passports etc, and they have agreed the rent and security deposit, but I would welcome any other advice as to additional checks or securities I could ask for.

Should I be asking for a bigger deposit, or for the whole of the rent in advance or can I perhaps rent the property on a month to month basis ?

Lots of questions I'm afraid, but advice would be very welcome

Thanks a lot

Lizzieb.

[Trenners]

Hi Lizzieb,

THe important thing is to follow up the landlord, employment and character references. Call all of the references, personally, and talk with them. You could also do a credit check by using a company, such as, www.rentchecks.com. Rentchecks could also follow up the references on your behalf - if you are too busy.

1st impressions count for a lot in this business though. Your description makes them sound ideal tenants.

I would create a 6 month tenancy agreement and ask them to pay 1 months rent in advance as well as a security deposit equal to 1 months rent PLUS £100.

Hope that helps ....

Mark

[lizzieb]

Thanks Trenners !

I have complied a list of questions to ask the tenants employers i.e. how much they are earning, how long they have worked there, are they on a probationary period, is this a permanent position, have they valid work permits,etc.

Is there anything else that I should ask regarding work or anything else ?

Many thanks

Lizzieb.

[Trenners]

Hi Lizzieb,

The employers questions seem fine. Also compile a list of questions to ask their existing landlord (if appropriate) such as did they pay the rent on time ? did they pay the rent in full each month? did they look after and respect your property etc etc

Also - make sure you follow up the character reference (someone who has known them for a number of years but is not related to them) if you can. The character reference is really useful if they "vanish overnight".

Once the tenancy commences the previous landlord will be of no use to you ... and if they lose their jobs the employer will be no use either. The character reference, though, will probably be in contact with them ... wherever they go !!

Ask the character reference if they are "honest trustworthy and reliable", how long have you known them and whether they would rent out a property to them.

Good luck,

Mark