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What extra steps to put in place for tenant with low income

Started by jules18375, November 27, 2014, 08:09:56 AM

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jules18375

We are looking to rent our property with a new tenant, who has been upfront that she's looking for a hopefully short term let (6 months min).
Her salary is £24K and the rent is £1200pcm so it doesn't quite add up. She works in the letting business herself and says she will top up rent with her savings.
Should I:
a) request to see evidence of her savings and if so, what figure am I looking for? Presumably I'm only interested in accounts in her name only
b) Insist on a guarantor (I don't know whether one is available for her)
c) Insist on a rent upfront so that I've always got the next three (more?)  months rent paid....

She's otherwise perfect, works locally, lived in the village for a long time, moving in with her son. It's a private arrangement so there's no fees from agent and she can move in straight after current tenant leaves, so if we don't let with her, I think we'll be about £2K down at the start of the contract.

Many thanks

boboff

Yep all three.

You cant be too careful, and best assure yourself you did all you could do before she moves in. I would also say they are ordered in terms of importance also.

Riptide

Letting a property to someone who can't afford the rent is not a good idea.

Martha

You might be 2K up if you rush it, but after 6 months you could be 5K down.

Dont do it without a guarantor.