UK Landlord Forum / Life

Can anyone help me, I am new to this and inherited a property in May, it was with an agent, to find commercial tenant, I have not signed anything with them. I asked when they  put a tenant forward " do you do relavant checks etc " they said - " yes we do credit checks and get references to ensure they are a suitable tenant "

They put someone forward and I realise now gave me no advice at all, I assumed they have done credit checks, when I asked subsequently  he was very smooth and batted it off. Then after some more digging he said " bank statements don't mean anything " then when I asked about bank references " oh I will have to check my files...." then after more pushing - " she will her own guarantor" then " her mum will be her guarantor" then theu went to my solicitor and didnt come back to ME with Mums financial details ....
This girl has given up work to start up a business in my shop. I have no references or anything to tell me she can pay her rent.

I have asked if she will go outside the LL tenant act I have been told NO. Her solicitor is demanding and pushy. I have got cold feet, what will I be liable for if I pull out now and simply sell the building I have had to seek proper advice from Kind commercial letting agents who didnt mind chatting to me knowing they would make no money out of me. They have told the process they would follow etc. Thst she is a weak covenent, that I should in that case have asked for more deposit, more rent up front, to be OUT the LL act...

what can I /should I do? They wanted me to sign the lease on Friday! I got a call today to say they had now at this stage done an experian credit check! Still no solid proof of how she will pay her rent! But they are not buding on what I want.

Hi if in doubt don't sign, you will properly have to pay your solicitor for there time, however in the long run you would save on the hassle if they don't pay the rent. With commercial rent it is a faster eviction providing its written in your lease? Have they paid you anything ? Deposit is normally 3 months rent on commercial letting, you haven't agreed to meet her legal cost? Hopefully you both should be responsible for your own.
Finally if they aren't coming forward with the credit check, I can assist you with that it's only around ten pounds . Guarantor? They will need to sign as well, finally I will give you a tip take evidence of any tenants insurance number as if they change there name etc they can be traced on the number faster should anyone owes you money.

its 28 days non payment but my solicitor was vague when I said - so can I go and change the locks after 28 days - she said no, the law has changed, you have to give them notice....no I each side meets legal costs. I am worried the agent will still try and change me = saying they found a tenant willing to sign the lease. The guarantor is her mum and I have no idea how strong a financial backer she is.

I have nothing and they wont even come out the tenant act. I have lost all faith in the agent.

Your solicitor didn't know. You have to serve a notice of enforcement 7 days notice comes under crar. The agent can't charge you as they haven't fulfilled there sla. Did you sign anything with the agent.We're is the premises located? I am going to pm you my number so if you need further information.

Even as an established (small) business when we were looking to take a new lease on a shop we were asked for a rent deposit. They wanted 6 months and we settled on 3 instead. Even if the shop is in a very secondary location I wouldn't rush in to a deal such as you've described. The demanding and pushy solicitor for the tenant sounds exactly like the type of solicitor you need!