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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I have started a Property Management Company giving landlords

Resolved Question:

I have started a Property Management Company giving landlords guaranteed rent and then placing in sharing company professionals. Of course I check the that the property is either owned outright or the mortgage has the necessary permission to multi let.
My company is 6 months old and despite having a good personal credit rating and no CCJ's or debts my company is failing credit references due to its age and no accounts submitted to companies house.
How can I get over this as every property deal requires a company credit reference and or a guarantor?
Kind regards Barbara.
Submitted: 1 year ago.
Category: Law
Expert:  Ash replied 1 year ago.
Hello Barbara my name is ***** ***** I will help you with this.
Is it a Limited Company please?
Customer: replied 1 year ago.
Yes Ltd companyBarbara
Expert:  Ash replied 1 year ago.
Ok. Won't the agents accept a guarantor or deposit?
Customer: replied 1 year ago.
Yes of course a deposit but how can I guarantee myself?
As I said I can get a friend for one property but I am a business and need a long term solution for multiple properties?
Barbara
Expert:  Ash replied 1 year ago.
But the Tenancies will all be in the Ltd co name?
Customer: replied 1 year ago.
Yes tenancy in the company name
Expert:  Ash replied 1 year ago.
Thanks. Its bad news I am afraid - all you can do is become a guarantor - but this is fine. Even though its your company you may have more assets personally than your Limited company. So you can become guarantor, there is nothing wrong with it.
But apart from that sadly there is nothing more you can do, save for stump up a big deposit or rents in advance. Those are the only options.
I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest.
Can I clarify anything for you about this today please?
Alex
Expert:  Ash replied 1 year ago.
If this answers your question could I invite you rate my answer before you leave today.
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