Private paying tenants – How large and secure should their income be?Make Text Bigger
We let out properties mainly to Housing Benefit tenants. Despite the general assertions on this site, we haven’t had substantial arrears, or substantial damage to our property. We know how we can short circuit those arrears, on the whole.
Both instances of arrears we have had however, have arisen under private paying tenants just like Mark’s experience.
I wonder how other landlords calculate affordability for private tenants. We don’t have high rents – about £500 on some properties and about £550 on others. We’ve found tenants who have been able to pay on relatively low earnings. What yardstick do other readers use?
Employers references are some help, but can be manipulated or falsified. Although a credit check can assist, there are limits to that.
We find that at least we know – until any further government cuts -what housing benefit (or equivalent) will be received, although this is now complicated by the contribution to council tax now required of HB tenants.
In contrast, an employee can be fired at any time. How far do others go in enquiries of the employer?
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.