What can I ask for as a LL?

Smee_Again

People cry out for professional landlords, bitch and moan about cowboys, and then when landlords act professionally by doing proper checks on prospective tenants these same people complain.

One might start to wonder if some people are just...awkward.

gauchesnell

Smee_Again wrote: »

People cry out for professional landlords, bitch and moan about cowboys, and then when landlords act professionally by doing proper checks on prospective tenants these same people complain.

One might start to wonder if some people are just...awkward.

what professional about seeking a bank statement and 3 months rent

also what is proof of residency.

Smee_Again

gauchesnell wrote: »

what professional about seeking a bank statement and 3 months rent

also what is proof of residency.

Proof of residency is a strange one, not sure about that.

Everything else falls under due diligence when entering into a contract worth thousands of Euro and potentially lasting 6 years.

Sorolla

I would also request a letter from the employer.

Session2019!

godtabh wrote: »

Long term tenants are moving out. Apartment is in a RPZ but rent is in line with market rent.

I will be asking for the following

• PPS No. (this is required for the registration of the tenancy with the Residential Tenancies Board)
• A reference from your previous landlord
• A reference from your current employer
• Photo I.D. such as a driving licence or passport
• Evidence of residency
• Recent bank statements
• Payslips
• Two months deposit in advance
• One months rent in advance

Anything else to be asked for? Anything to be recommended to ask for to screen interested parties? Not all the information above will be needed prior to a viewing.

If a potential land Lord wants Bank statements, payslips and employer references then I'd be expecting the same from them. If they don't want to show them to me then why would I show them. I've never had a problem renting the last 10 years and I have moved counties 6 times in that period. I have told numerous LLs to shove there out rageous requests where the sun don't shine. Too long it was a landlords market, not the tables are turning.

gauchesnell

Smee_Again wrote: »

Proof of residency is a strange one, not sure about that.

Everything else falls under due diligence when entering into a contract worth thousands of Euro and potentially lasting 6 years.

everything grand except proof of residency and bank statements

deposit should just be one month as normal.

and as someone mentioned make sure to include a phone number on the LL reference or employer.

Manion

Sorolla wrote: »

Can you see online who owns the property?
I don’t think this is possible

The folio is available for a small fee from the land registry site.

Session2019! wrote: »

If they don't want to show them to me then why would I show them.

Because you're entering a business arrangement. Proof of funds is perfectly reasonable.

Smee_Again

gauchesnell wrote: »

everything grand except proof of residency and bank statements

deposit should just be one month as normal.

and as someone mentioned make sure to include a phone number on the LL reference or employer.

Banks statements are probably most important.

Considering it takes about 12 months to evict a non-paying tenant, the landlord is effectively fronting the tenant 12 months rent so I will be reviewing any prospective tenant in the same way as I did when I approved bank loans.

People are obviously free to refuse and in that case I’ll move on to the next interested party.

Took me 4 or 5 months to find the current tenant for a house I look after but 5 years later we have the same tenant who is happy in the house, easy to deal with and hopefully will stay for many more years to come.

gauchesnell

Smee_Again wrote: »

Banks statements are probably most important.

Considering it takes about 12 months to evict a non-paying tenant, the landlord is effectively fronting the tenant 12 months rent so I will be reviewing any prospective tenant in the same way as I did when I approved bank loans.

People are obviously free to refuse and in that case I’ll move on to the next interested party.

Took me 4 or 5 months to find the current tenant for a house I look after but 5 years later we have the same tenant who is happy in the house, easy to deal with and hopefully will stay for many more years to come.

fair enough...i would move on.

what do bank statement prove that a payslip doesnt.

greendom

Smee_Again wrote: »

Banks statements are probably most important.

Considering it takes about 12 months to evict a non-paying tenant, the landlord is effectively fronting the tenant 12 months rent so I will be reviewing any prospective tenant in the same way as I did when I approved bank loans.

People are obviously free to refuse and in that case I’ll move on to the next interested party.

Took me 4 or 5 months to find the current tenant for a house I look after but 5 years later we have the same tenant who is happy in the house, easy to deal with and hopefully will stay for many more years to come.

Hopefully he/she will be able to afford their own house at some point.

Smee_Again

gauchesnell wrote: »

fair enough...i would move on.

what do bank statement prove that a payslip doesnt.

Ability to pay the rent.

gauchesnell

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gauchesnell

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Smee_Again

greendom wrote: »

Hopefully he/she will be able to afford their own house at some point.

Genuinely hope so too though social housing is the more likely outcome.

Whichever it is, I’ll be equal parts sad and delighted to see them go.

Graham

Mod Note

Yyhhuuu, as you were asked yesterday. Please take your English language discussion to the appopriate forum.

Do not reply to this post.

Yyhhuuu

Meathman12 wrote: »

Folio details can be easily obtained online.

You're assuming it's registered title otherwise no folio. Many properties, particularly urban have no folio. Also there is a cost associated with searching and obtaining a folio. I think it's €40 for a certified copy.

I understand Landlords are considered data controllers under the Data Protection Acts. I'm not sure exactly what this entails. I presume records such as tenants' bank statements must be destroyed after a certain timeframe.

Session2019!

Smee_Again wrote: »

Banks statements are probably most important.

To what purpose? I recently had to send a bank statement to my pension company and I completely redacted everything accept for my name and address which they accepted so there's no way a LL needs to know your current balance.

gauchesnell

Session2019! wrote: »

To what purpose? I recently had to send a bank statement to my pension company and I completely redacted everything accept for my name and address which they accepted so there's no way a LL needs to know your current balance.

exactly it shows nothing.

Yyhhuuu

gauchesnell wrote: »

exactly it shows nothing.

A bank statement is very useful as it indicates not alone the tenant's income over time but his expenditure over time and whether he is living within his means which all imagines on his ability to pay his rent. Why do you think banks look for bank statements when applying for a loan? It's to determine ability to pay.

gauchesnell

Yyhhuuu wrote: »

A bank statement is very useful as it indicates not alone the tenant's income over time but his expenditure over time and whether he is living within his means which all imagines on his ability to pay his rent. Why do you think banks look for bank statements when applying for a loan? It's to determine ability to pay.

all of which would be redacted if I gave to a LL. Payslips show income. It is not a LL business whether or not a tenant is living within their means.

No hesitation to supply for a loan though.

MrMusician18

Smee_Again wrote: »

People cry out for professional landlords, bitch and moan about cowboys, and then when landlords act professionally by doing proper checks on prospective tenants these same people complain.

One might start to wonder if some people are just...awkward.

Are you actually for real? Professionalism is knowing what you're doing and the ability to carry out those associated tasks effectively and efficiently. Here we have a person asking for excessive amounts of personal documents, which by their nature include a lot of non relevant sensitive personal information, where the key information could be supplied by one of these documents alone.

To add to that they are asking on a internet forum about what further documents they should be requesting.

Ask yourself, does this strike you as the behavior of a professional? Because it looks very amateur from my viewpoint tbh.

Gumbo

MrMusician18 wrote: »

Are you actually for real? Professionalism is knowing what you're doing and the ability to carry out those associated tasks effectively and efficiently. Here we have a person asking for excessive amounts of personal documents, which by their nature include a lot of non relevant sensitive personal information, where the key information could be supplied by one of these documents alone.

To add to that they are asking on a internet forum about what further documents they should be requesting.

Ask yourself, does this strike you as the behavior of a professional? Because it looks very amateur from my viewpoint tbh.

So anybody that asks for a second opinion is an amateur.
You don’t think the large REIT’S don’t get second opinions from accountants, economic advisors etc

Also, why does my bank ask for 2 copies of ID?
2 proof of addresses etc

It’s the done thing.
Either you do it, or you move onto the next property. No hassle, it’s not mandatory and if the tenant doesn’t like it, plenty more houses out there as a few posters stated in this thread.

gauchesnell

Gumbo wrote: »

So anybody that asks for a second opinion is an amateur.
You don’t think the large REIT’S don’t get second opinions from accountants, economic advisors etc

Also, why does my bank ask for 2 copies of ID?
2 proof of addresses etc

It’s the done thing.
Either you do it, or you move onto the next property. No hassle, it’s not mandatory and if the tenant doesn’t like it, plenty more houses out there as a few posters stated in this thread.

renting is not equivalent to bank loan or mortgage. It is not the LL business if the tenant is living within their means. For a loan or mortgage it is.

and yes tenants will move on to the next one. You can always move funds around and provide a bank statement if you are really interested. Wont show loans or debts if any.

I havent seen clarification as to what proof of residency means...just interested.

MrMusician18

Gumbo wrote: »

So anybody that asks for a second opinion is an amateur.
You don’t think the large REIT’S don’t get second opinions from accountants, economic advisors etc

Also, why does my bank ask for 2 copies of ID?
2 proof of addresses etc

It’s the done thing.
Either you do it, or you move onto the next property. No hassle, it’s not mandatory and if the tenant doesn’t like it, plenty more houses out there as a few posters stated in this thread.

Asking for a second opinion from a professional is a mark of professionalism, asking on an internet forum is not.

I must've missed the threads the REITs have opened looking for advice.

gauchesnell

gauchesnell wrote: »

renting is not equivalent to bank loan or mortgage. It is not the LL business if the tenant is living within their means. For a loan or mortgage it is.

You can’t honesty believe the rubbish you have just written there? It’s not the LL business of a tenant is living within their means? It is 100% the LL business as if a tenant is not living within their means then sooner or later rent will not get paid, a LL has the very same concerns as a bank giving a loan expect the bank has much more power to recoup its losses.

gauchesnell

Adriel Nutty Cowgirl wrote: »

You can’t honesty believe the rubbish you have just written there? It’s not the LL business of a tenant is living within their means? It is 100% the LL business as if a tenant is not living within their means then sooner or later rent will not get paid, a LL has the very same concerns as a bank giving a loan expect the bank has much more power to recoup its losses.

thanks but I do...and no it is not my LL business if I live within my means. It is their business if I pay my rent. LL is not responsible for the bills I run up while renting either (gas, electricity, etc). I am.

Also a bank statement doesnt show that someone is living within their means. Someone can have debts/commitments/loans not shown in a bank statement.

Session2019!

Yyhhuuu wrote: »

A bank statement is very useful as it indicates not alone the tenant's income over time but his expenditure over time and whether he is living within his means which all imagines on his ability to pay his rent. Why do you think banks look for bank statements when applying for a loan? It's to determine ability to pay.

My expenditure is definitely not the business of a LL. if they think it is then they are seriously deluded. You cannot compare this to a loan so that's a silly example to use.

Graham

Mod Note

come on folks, the topic is "What can I ask for as a LL".

If you have nothing useful/relevant to the topic, start a separate thread.

Yyhhuuu

<SNIP>

listermint

godtabh wrote: »

Pay your own mortgage then.

If everyone did that it would put you out of business wouldn't it


Swings and roundabouts