Tenancy - credit check

[freshblue]

As stated previously always state employee rather than Director or Self Employed. Your accountant/brolly/whatever should help...

[tim123]

Makes more sense for me financially. In London rents collected do not cover mortgages except in some circumstances - but not where I could afford to buy. All my houses are in countries / cities where the rents I charge more than cover the mortgage repayments (so you will guess I do not own any houses in London), even with management agency charges and expenses, so in fact my mortgages are repaid and my surplus more or less pay for my own rent here. If I upset this fine balance by living in a house that I have bought, then I'd lose a bit of money every month. With my set up now, I don't lose a penny and live rent-free. Sorted!

A typical German scenario.

Many Germans cannot afford to buy the sort of house that they are prepared to live in, but want to be on the housing 'ladder'. So they buy some pokey bedsit that they wouldn't dream of living in, and rent it out whilst they pay to rent the four bed house with Garden that they aspire to. They get some sort of tax break for doing this.

tim

[Rebecca Loos]

there are similar tax breaks everywhere, even in the UK, as in Oz and NZ, where you can deduct mortgage interest and normal maintenance charges from the taxable income you get from rents.

[ALM]

But why do you pay the entire years rent in advance? how bad is your credit history?

[n5gooner]

there are similar tax breaks everywhere, even in the UK, as in Oz and NZ, where you can deduct mortgage interest and normal maintenance charges from the taxable income you get from rents.

which is why all our property is on interest only.....

[Rebecca Loos]

But why do you pay the entire years rent in advance? how bad is your credit history?

1. Because I don't wish to disclose my salary and income structure to anyone, least of all a letting agency
2. Because doing so would also involve mortgage and income details from many countries, which is something they don't like

In the end, yes I could, but it's so much simpler to just say "listen guys, I'll pay you the whole year, or 6 months, now if you drop the need for references and income disclosure, have we got a deal?", and 99% of the time, it's a yes

After all, they get interest on advanced rents they would not normally have so everyone's a winner