We are now in a completely different operating environment

We are now in a completely different operating environment

10:09 AM, 28th October 2020, About 11 months ago 21

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In the past, if someone was in a reasonable job, I was willing to risk taking them on without a guarantor. In fact, it seemed rude to ask a professional in their 30s or 40s for one. The worst thing that could happen would be me losing about 6 months rent – which I may or may not have been able to somehow claw back later.

We are now in a completely different operating environment. I now prefer to let a property remain vacant even for a month or two if necessary, in order to wait for the least risky tenant with a homeowner guarantor. Far better to lose one or two months’ rent now than run the risk of losing 2 years or more rent if the tenant decides not to pay the rent.

Some prospective tenants are initially annoyed when they are asked for one. One wrote to me: ‘a guarantor for a £500 house?’ Others say ‘I am a mature professional. I don’t need a guarantor.’ But if I get no rent on the £500 house for 2 years I am down £12,000, not to mention the legal fees and stress. JUSTICE FOR LANDLORDS! – Property118  So, yes, guarantor, please.

I also find, however, that most prospective tenants are quite understanding about it, once it is explained to them, as I did to one today: ‘Unfortunately, due to recent Government legislation which makes it very difficult to evict any tenant who decides not to pay the rent, we have to have a guarantor as a safety net.’  The single mother of two girls said ‘yes, I understand completely.’

Just like other Government legislation supposedly to ‘protect renters,’ this is having the diametric opposite result and is awful for would-be decent tenants, whilst the rogues are protected.  When will the Government realise that all their interfering is creating havoc and misery for tenants as well as landlords?



Comments

by Mick Roberts

17:04 PM, 31st October 2020, About 11 months ago

Brilliant words Rose, u sum it up in two paragraphs what takes me 4 pages:

'I also find, however, that most prospective tenants are quite understanding about it, once it is explained to them, as I did to one today: ‘Unfortunately, due to recent Government legislation which makes it very difficult to evict any tenant who decides not to pay the rent, we have to have a guarantor as a safety net.’ The single mother of two girls said ‘yes, I understand completely.’

Just like other Government legislation supposedly to ‘protect renters,’ this is having the diametric opposite result and is awful for would-be decent tenants, whilst the rogues are protected. When will the Government realise that all their interfering is creating havoc and misery for tenants as well as landlords?'

When will the Govt realise eh?
The amount of troubles I'm having when setting up UC claims, it's out on Planet Mars. 90% of UC staff have tunnel vision & don't think it's a problem when pay tenant & they spend it.
My two Job centre manager contacts now they give me access, are shocked at the Landlords side. They was never aware it was so bad. They just don't know when their own staff don't pay claims & are miffed by their staff's ineptitude when I alert them to it.


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