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  • Buy-to-Let

    Asking tenant to cover guarantor referencing?

    Yeh it makes sense. I thought as much hence my 'clutching at straws' comment. Still, no harm in another pair of eyes just to confirm!

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    Appreciate the responses. Like I said in my original post " I may be clutching at straws here..." so I guess I'll just have to either absorb the cost or avoid tenants with guarantors.

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    Apologies I didn't mean to be obtuse. With the new legislation - Referencing in particular is something that is now the Landlords responsibility - Guarantors and all. My only words are don't scrimp on it - it'll be one of the most important parts of the tenancy.

    However, as with any business if your costs have increased you have to decide how you maintain your profitability. You either accept the additional cost, or you adjust the items within your remit to compensate.

    I think there are posts in this thread that explain how other Landlords are addressing this particular issue.

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    If you're selecting tenants and self managing then choosing thr right tenant should already be part of your gut feeling.

    You paying the refernce fee is confirming that. If you're not sure about paying it then there's a reason which should be addressed, and if it can't be then time to find another tenant.
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