Determine potential tenant's ability to pay rent

Hello,

I have decided to rent out my house and will be showing the house to a number of interested parties this weekend.

I have found a number of websites which state that you should ask what the potential clients are earning in order to determine whether they could afford the rent or not.

I think it is an intrusive question and not sure it should be asked.

Has anyone else asked this question when renting out their property?

The questions are getting more intrusive because the state has let it get to the point now that a tenant who decides not to pay the rent will take over a year to get out (legally).

So, landlords only really have any power to exercise BEFORE a tenancy commences. Given that, landlords are now requiring much more by way of information about who they are about to hand that expensive asset over to.

I would no let to anyone now without:
-Copy of passport/national ID card
-Work reference
-3 months Bank statements if work reference doesn't show how much they earn
-Previous landlord's references (to be verified, not taken at face value!!)
-2 months deposit + month in advance rent

It's just too dodgy now to be letting anyone in to your place.

Hi Murphaph,

Thanks for your advice which I have noted.

Work reference - Is it normal practice that the new tenants give you a written reference from their employer or is it usually by phone?

Deposit - Would 2 months deposit + 1 month advance possibly deter tenants as they may consider it a lot to hand over initially?

Thanks again.

Toots1980 said:

Deposit - Would 2 months deposit + 1 month advance possibly deter tenants as they may consider it a lot to hand over initially?

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What better way to determine their ability to pay if you can get it? If you're in an area where there's a high demand for rental properties, it'd be a good practice to stick to. In most areas outside Dublin, it'd result in excessive voids.

Good point Ronaldo.

Its typical in Ireland to ask for more than 1 months deposit + 1 months rent in advance.

In Europe and other places larger deposits are more common.

As others have said. I also think its a good idea. But I think will be hard to get it. But perhaps being picky is the whole the point.