Concerned about offering tenancy to someone so young?

Concerned about offering tenancy to someone so young?

15:54 PM, 17th May 2021, About 4 weeks ago 28

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I have had an application from a very young lady (only just 18, but she is due a baby within the month) for a two-bed flat with her partner. While she has the Rent In Advance & Deposit, I am wary that if the partner leaves her, she won’t be able to afford the rent on her own as she would only then be entitled to a one-bed, and she can’t make up the difference on her own.

I am assuming each of them needs to provide a separate guarantor on this possible joint tenancy? (as either one could essentially leave the other)

I am generally a bit concerned about offering any tenancy to someone so young. Has anyone been in the same position? Advice??

DSR



Comments

by Paul Shears

19:15 PM, 17th May 2021, About 4 weeks ago

Does this strike you as someone displaying any degree of judgement?.............

by Smartermind

9:40 AM, 18th May 2021, About 4 weeks ago

Reply to the comment left by Paul Shears at 17/05/2021 - 19:15
That is a very judgemental and irresponsible statement.

by Martin Roberts

9:41 AM, 18th May 2021, About 4 weeks ago

I think the alarm bell is ringing.

It's my experience that young people, straight from the family home, expect the landlord to be surrogate Mother, Father, Cleaner, Gardener, Dogs Body, Chauffeur, and on call 24/7.

by Smartermind

9:42 AM, 18th May 2021, About 4 weeks ago

If you get two guarantors, who have an income, and a joint tenancy, then there is nothing to worry about.

by Robert Mellors

9:45 AM, 18th May 2021, About 4 weeks ago

Some 18 year olds are more sensible and mature than some 40 year olds, so providing you get guarantors (rent and damage), the same as you would for an older couple, then I don't see that their age has much to do with it. If they mess up and can't manage their tenancy then you have the fall back position of claiming from the guarantors, exactly the same as you would with an older couple.

by LordOf TheManor

10:04 AM, 18th May 2021, About 4 weeks ago

DSR
I think you've got the room situation wrong. With a child - and if she were to be on her own there - her entitlement is for a 2-bed property.
Lord

by DSR

10:13 AM, 18th May 2021, About 4 weeks ago

Reply to the comment left by Paul Shears at 17/05/2021 - 19:15
It was a genuine question based on my experience to date - which is why I posted - for advice from others.

by DSR

10:15 AM, 18th May 2021, About 4 weeks ago

Reply to the comment left by Robert Mellors at 18/05/2021 - 09:45
except the parents aren't home owners either...I have pointed them in the direction of a guarantor company.

by Robert Mellors

10:42 AM, 18th May 2021, About 4 weeks ago

Reply to the comment left by DSR at 18/05/2021 - 10:15
If neither sets of parents are home owners, then it may be more risky, but they could still be guarantors if they are in full time employment? However, as it is potentially more risky, you may wish to get more than one guarantor. Other people can also be guarantors, e.g. other relatives, friends, employers, etc.
Of course you would need to ensure that whoever the guarantors are, they fully understand their potential liability, and that you have the Deed of Guarantee signed in your presence, with witnesses, etc.

I have no experience of "guarantor companies" so I cannot comment on them, except to advise that you always check the small print to find out what they are actually guaranteeing, and what are the exceptions.

by Mike T

11:07 AM, 18th May 2021, About 4 weeks ago

DSR, you mention deposit and rent in advance from your prospective tenant. But what about income ? affordability ? Be aware that at some point she will shift to benefits, the dreaded UC etc. A lot to think about, a few risks as always. It make you feel good helping a younger person to have a home - we have done it in the past. Once it worked well 13 years of no problems. Another one a problem from day one. (Toss a coin, heads you loose tails you can't win . No delete that.)
Good luck which ever way you go with it.

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