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  • Buy-to-Let

    Guarantors, References & Rent Insurance

    I am renting 6 rooms on individual contracts in a HMO - No agent is involved.

    We are charging 1 months advance & 1 months deposit.

    I am renting to professionals and had a few questions:

    2 teachers are coming over from Canada - They have sent over proof of employment, visa, should I ask for landlord references and should I get rent insurance?

    Should I ask for guarantors instead of taking out rent insurance? - If so, does anyone have the wording for this?

    Does anyone have the wording for landlord & employer references (or is offer of employment for a new job sufficient?

    Any other tips?

    Thanks all

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    If you are a member of the RLA (would recommend it if not, cheap and very handy).
    They have a guarantor agreement in the templates section that you can use.
    They also have reference templates, etc..

    The problem you are going to have is getting an insurer that will be happy to offer "rent insurance" for none-uk nationals. They are likely to see that as high risk.
    So you are right to move to Guarantors, but if they are moving from Canada will there be a UK Guarantor available? Otherwise, you are talking Canadian law and pursuing a guarantor over there, is not really.


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    My posts are not financial advice, just a rambling guy passing time on a coffee break.
    The team at Bespoke Finance offers advice, including Limited Company Buy-to-Let , HMO Conversion and Cheap Life Insurance.

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