LLs of mumsnet

[luckybadger]

What do you look for in a potential tenant?

I have no history of renting anywhere else and a medium/low ish income. I'm hoping to increase that but as it stands that's my situation. I'm self employed btw.

Obviously I know I'll keep the place clean and not trash it but there's no way for a stranger to know that I suppose.

I've contacted a few estate agents but they seem very fixed on the amount of rent correlating with my income which would sort of price me out of the kind of size and type of property I am interested in. I'm not talking about a mansion here, just something more than my current income justifies.

For example I was told that for one large flat that costs £800 a month you need to be earning 22K a year. Which I currently do not.

I do have savings. So I could pay 6 months or a year up front. When I try and get this across to estate agents they seem to discount me.

There's a long and unhappy story behind how I got to this point. But since I won't be sharing that with a potential LL or an estate agent it would only muddy the waters to post it here.

So, are you a LL? Would you consider an upfront payment like that? What can I put in place to make myself more appealing as a tenant?

@luckybadger It was a while ago but I think one of the other applicants had a dog (and I love dogs, I’d be fine with a small dog but it wasn’t a small dog - and it’s a small flat with a small garden) and the other couldn’t move in as soon as the tenant I chose.

I’d really hope a tenant wouldn’t leave before a year although most standard contracts have a six month break clause. Of course, the longer the better.

@CaptainMarvelDanvers You'll get there, just like I will. I think one thing this thread shows is that LLs have different preferences at different times and if you keep asking and looking something will connect up somewhere.

@mobear That's interesting because I could move in really right away and I hadn't considered that would be worth mentioning as an advantage. I could also wait etc. I'd also be staying for a minimum of 2 years, although obviously life can change, but maybe that would be worth pointing out as well.

@luckybadger I think if you paid each year up front and made it known you could move in straight away (or wait) that would be attractive to LLs. Part of the problem might be agents not letting you get a look in with the LLs in the first place, so as a pp suggested perhaps try somewhere like OpenRent.

And also bear in mind that lots of agencies make their money through ongoing management/ rent collection fees, which might be a less appealing prospect to their LLs if you're paying a year up-front, so they might be guarding their commission.

@quicklybeingdrivenmad That's so nice that you have such a close connection to your tenants. I'm sure I'm a good fit for somebody, it's just going to be a case of finding them!

Whereabouts in the country are you looking for, op ?

@mobear Ok, that's useful to bear in mind. I had thought the upfront would appeal to the LL because they can go and do something with that money in the meantime. So even if (thinking their worst case scenario) I then turn into a nightmare tenant and have to be evicted, they are still kind of covered if that makes sense?

@AnyFucker I'm not in London, NW England.

800/month would get you something very nice in some parts of the NW.

Could you venture slightly out of your current area and look for something around 6-700 ? Depending on your actual salary, you would be much more likely to pass affordability checks. Most landlords will use standard calculations of 3x monthly rent.

@AnyFucker I think you're right on that, shifting around a bit and earning a bit more combined would open up more options. I guess being SE counts against me more than I thought, which I don't really understand because someone in a regular job could lose that job, but then I don't make the rules!

Being a tenant of several properties now, weve always applied and if we want it and its available put the holding deposit down while reference checks etc were done and we met the criteria. Never been rejected on any application. We've always done it through a letting agent.

Our most recent plac (a family home as we needed more space) which we moved in a year into the pandemic we were told we needed a combined income of 30x monthly rent which we do and then reference checks etc.

If one letting agent gives you problems find another one. The first place we rented through the letting agent was a nightmare beginning to end. 2nd one and this one so far have been fab! And really good reviews online.