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  • Problem Tenants

    Tenants damaging my property to get up-grades

    My insurance already covers rent. The problem is having to claim when they don't pay and the next time I renew or take out a new policy my premium's going to hit the roof. RGI sounds interesting. Going to read up on it. Thanks.

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    I would check the policy documents that you have met the insurer conditions for rent cover, as usually they require a full reference check on tenants prior to AST before they pay out.

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    They went through full referencing and credit check by a legit agency. That's why I was taken aback when they passed. Thanks.

    When they first viewed the property and said they wanted the flat, I didn't take them seriously because I thought they were mucking about for starters and later when I saw their bank statements I was sure they would never make it past the checks.

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    I wouldn't beat yourself up about it. Gut instinct is a very under-mentioned part of self-managing as a LL - you won't make this mistake again I'm sure!

    If it's any consolation 99% of letting agents would have put those tenants in your property as they passed the checks.

    Apart from the attitude check of course!

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    Thank you, Adam. I guess at the end of the day most people are thinking about just getting the income from the rent to help offset the mortgage. That was foremost on my mind what the with the renovation costing money and the flat not being lettable at the time.

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    Should they ever get into rent arrears just remind them that you will issue a CCJ which will make it v difficult to get another rental - unless they repay in full what is owing.

    That would effectively force them to go home to respective parents.

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    I love this forum. It really helps discussing these issues with people who know their stuff. Thanks heaps, Landlordy.

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    We all stop thinking straight when stressed out - so an objective sounding board usually helps.

    I suspect it would have been a different ball game if the tenants had both been at Uni and living away from home for 3 plus years - as that would have enforced their growing up.

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    So true. I really appreciate the advice and suggestions I get here. As you mentioned, objective voices do help. i've been so upset this past week but more with myself for not being prudent.

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