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Proof of income for long term let


Mackyfrance

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We have people interested in renting out our house for 3 years. However, they won't provide proof of income saying that they feel that information is confidential and that they wouldn't enter into the agreement if they weren't sure they could afford it. Personally we don't want to know the details of their finances however we do need to know they can pay the rent. Is there a third party company who could check this information for us or does anyone know what else we could request eg. bank reference, accountant's letter. I don't believe they have anything to hide just that old anglo-saxon dislike of revealing financial information.
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Technically, you are within your rights to require them to provide either a copy of their last payslips or their tax declaration.

[quote]To

ensure that you will be able to pay your rent and your

expenses, the owner or the professional responsible for the transaction

may ask:

     * Evidence of your income: several payslips, your tax declaration and possibly your last rent receipt if you are already a tenant;

source

[/quote]

Worth a read: http://www.anil.org/fr/profil/vous-etes-proprietaire/bailleur/index.html

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[quote user="Mackyfrance"] I don't believe they have anything to hide just that old anglo-saxon dislike of revealing financial information.[/quote]

They need to get over that dislike if they are hoping to rent a house from you, or from anyone else for that matter.

We did not have payslips, and had not rented before so had no payment history, hence could not provide enough detail to rent through an agency and had to seek a private rental. Fortunately for us our landlady was quite taken with the original - and my inept translation - of the receipt for the sale of our house in the UK and the bank statement showing that we had received said funds and when.

If these people expect you to give them the right to live in your house for up to 9 years without a little assurance from them regarding their finances then you should be wary of them. Tenents in France have immense rights of tenure once installed; tread carefully.

Sue

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I hesitated to add a comment to my post above, but I have to agree with what has been posted since...

French rental laws are heavily weighted in favour of tenants and you should protect your investment property first and foremost.

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[quote user="Mackyfrance"]We have people interested in renting out our house for 3 years. However, they won't provide proof of income saying that they feel that information is confidential and that they wouldn't enter into the agreement if they weren't sure they could afford it. Personally we don't want to know the details of their finances however we do need to know they can pay the rent. Is there a third party company who could check this information for us or does anyone know what else we could request eg. bank reference, accountant's letter. I don't believe they have anything to hide just that old anglo-saxon dislike of revealing financial information.[/quote]

Totally agree, put the ball back in their court and say it is a standard requirement in France.  I asked for copies of bank statements and copy of the last tax return, if they are in paid employment then copies of payslips can be requested.  This is all standard stuff, it would be better to walk away, your house will be empty a while longer and no money will be coming in, the alternative could be house occupied and no rent coming in!

 

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Thanks everyone. We have put the ball back into their court on this as there is absolutely no way we will go ahead with the rental unless they can provide proof of sufficient income or assets. I've tried to explain to them why we need it but it seems in their home country this sort of info is not required. It seems that there are some people happy to rent out their houses on a handshake but we're are not prepared to. Fortunately we have a small queue of people interested in renting so if this doesn't work out, then I'm sure one of the others will.
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  • 5 weeks later...
Well, thought I'd just update you. The prospective tenants refused to provide financial information, we refused the let then, thanks to the joys of Google found a post on another forum that seemed to suggest they were penniless. A cautionary tale! Now found lovely prospective tenants who are only too happy to provide everything we ask for.
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  • 2 weeks later...
We have a fantastic landlord but did not know that when we moved in as we dealt with an agent. They asked for proof of income and I suggested that I pay a year in advance and that was that. We are now in our fifth year here and the payments are down to quarterly but only on basis that it is cheaper to transfer quarterly rather than monthly.

We took the decision to rent rather than buy as we have property back in the UK that produces income that, legally, is not taxed and this more than pays the rent here where the landlord sorts out any problems we have and the tradesmen tell me whether the bill is for the landlord or me. I recently bought a motorhome and trailer and, without asking, he offered the free use of a spare garage for me to store it in.

I would agree that the law is so far in our favour as tenants and this would more than preclude me from being a landlord here but as a tenant, I cannot complain!!

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