Accidental landlord cautious about prospective tenant

Accidental landlord cautious about prospective tenant

14:25 PM, 1st February 2015, About 8 years ago 12

Text Size

I recently moved home and am looking to rent out my previous property. Given that I have moved over 200 miles away it was not a viable option for me to manage the property myself, so I joined a highly-recommended online letting agency. After a short while, a couple (both in their late 20’s) expressed an interest in renting my property.

As a first time landlord, I obviously wish to let the property to a sensible, trustworthy set of tenants who will ideally stay there long-term.

A number of issues have been brought to my attention which make me nervous letting to this couple. I wish to seek some advice on whether I should rightly be concerned or if I am being unreasonably cautious.

The female is currently pregnant and on maternity leave. As a result, only the male has been referenced by the agency and it appears that not only is his salary to rent ratio insufficient, he is currently employed on a 12 month contract as a teacher. They are willing to have the father (a doctor) as a guarantor, and state they can pay the initial deposit and one month’s rent in advance. I am concerned with their long term ability to pay rent (despite having a guarantor. I will also have rent guarantee in place throughout the duration of the AST). I maybe should also note that I have already conceded on allowing them to have pets in the property too.

Should I rightly worry about letting my property to these prospective tenants?

I am thinking the best thing I can do is speak to the tenants by telephone and ask them a number of questions to get a better feel for who they are and what their background is.

Any thoughts, comments or advice would be greatly appreciated.

Thanks

Raycautious



Comments

Raymond Hollis

20:38 PM, 3rd February 2015, About 8 years ago

Reply to the comment left by "Gary Nock" at "01/02/2015 - 22:02":

Hi Gary; excellent advice and much appreciated. I am following these exact steps, and will act with patience. I am not desperate to rent the property out immediately; if this couple does not work then another will come along I'm sure.

Carol Thomas

4:12 AM, 4th February 2015, About 8 years ago

Reply to the comment left by "Raymond Hollis" at "03/02/2015 - 20:36":

Hi Raymomd
I was exactly the same but Tony very sensibly put me straight and I think his words were something like - you are paying for a professional service, now use it, or words to that effect! I am now very happy to let them do their job and I can relax after seven years of hassle doing it myself! Good luck and RELAX.....

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Tax Planning Book Now