We're in the process of moving new tenants in, but the credit check has come with no evidence of enough income to cover the rent,as one of them is self-employed with no tax returns etc...
They have proposed a guarantor, but we've no experience with those, even if we understand how they work in principle - What are the pitfalls here?
We manage the letting ourselves, if that makes any difference.
Part of the problem is that I don't understand the level of risk involved, and can't balance this against
the opportunity cost of not having someone moving in.
Questions from a reluctant landlord:
We're in the process of moving new tenants in, but the credit check has come with no evidence of enough income to cover the rent,as one of them is self-employed with no tax returns etc...
They have proposed a guarantor, but we've no experience with those, even if we understand how they work in principle - What are the pitfalls here?
We manage the letting ourselves, if that makes any difference.
(inb4 slumlord / toryboy etc...)