New to HMO and weekly rents.
I'm just about to enter the HMO market. I have no experience of letting bedsit type lodgings.
I have existing Polish tenants in houses(who are great)who have referred some friends of theirs (also Polish, therefore not on electoral role etc) who wish to live in the HMO property. They too have other friends who want to come and see it. On the face of it a nice little referral system going on without agent costs! However...
A few questions I have are;
1. What is the best way to reference check Polish tenants who are pretty new to the UK though have full-time work? Obviously I will take bank/job/previous landlord details but are there any other sureties I should be looking for?
2. I have given a weekly rental cost including bills. How does the deposit work, i.e would I take 4 weeks deposit?
3. Is it common to collect rent on a weekly basis?
4. Irrespective of Nationality, what type of contract could I offer? I'm used to six monthly ast's.
Any help would be appreciated.
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