Found the perfect place

smj43

My partner and I are currently looking to rent a 2 bed property in SW London. We went on several viewings yesterday and found the ideal place.

The problem is, I am working full time but I'm on a low income and we need to claim partial LHA temporarily until my partner goes back to work (currently stay at home mum looking after our newborn baby). I explained the situation to the agent and he seemed ok about it but he wasn't sure what the landlord would say. I offered to pay the equivalent of 1 months rent on top of the security deposit for extra security. I also said we would sign a 2 year contract.

What do you think are my chances? He said he would get back to me on Monday morning. I am so worried we will loose it because the competition is so fierce in London at the moment and the LL can afford to wait for another offer from non LHA tenants.

Incyder

A 2 year contract ???? thats optimistic for someone who needs help with their rent.

If you run out of money, lose the benefit or split up, you will still be liable for the toal amount of rent till the end of the lease. Bit of a gamble isn't it ?

smj43

Incyder wrote: »

A 2 year contract ???? thats optimistic for someone who needs help with their rent.

If you run out of money, lose the benefit or split up, you will still be liable for the toal amount of rent till the end of the lease. Bit of a gamble isn't it ?

True. I don't see us running out of money or splitting up but with the cuts that the government are currently making on LHA, I guess a 2 year contract is a bit of a gamble, but isn't it for everybody? Nobody can say they are definitely going to still have a job in 2 years time.

Anyway, that was just an idea I put on the table. I wanted to offer as much as I could to tempt the LL in letting to us.

Wee_Willy_Harris

Incyder wrote: »

A 2 year contract ???? thats optimistic for someone who needs help with their rent.

If you run out of money, lose the benefit or split up, you will still be liable for the toal amount of rent till the end of the lease. Bit of a gamble isn't it ?

People commit to a 25 year mortgage with no more security than the OP. I don't see the difference.

smj43

Wee_Willy_Harris wrote: »

People commit to a 25 year mortgage with no more security than the OP. I don't see the difference.

Thank you.

Everything is a gamble if you look at it that way and in that case nobody should do anything as something could always go wrong.

Could somebody possibly help with my original post. Are there landlords on here that could advise if they would take similar tenants? We have made the offer of higher deposit to prove we are serious and know the landlord would be taking on higher risk, therefore we will be providing them with this extra security.

MrsAmanda_2

I'm a landlord, in SW London, and in all honesty, I wouldn't take LHA tenants. I've been thinking about it, and not even sure why I say that - I'm sure with most there's no more risk than with private tenants, but the extra month's rent as security wouldn't make much difference to me.

Edited to say a 2yr contract would put me off, I wouldn't want to be tied to any tenant for that long.

smj43

MrsAmanda wrote: »

I'm a landlord, in SW London, and in all honesty, I wouldn't take LHA tenants. I've been thinking about it, and not even sure why I say that - I'm sure with most there's no more risk than with private tenants, but the extra month's rent as security wouldn't make much difference to me.

Edited to say a 2yr contract would put me off, I wouldn't want to be tied to any tenant for that long.

Thank you for your post. It is really good to hear a landlords perspective. Especially since you are a landlord in the area I am looking.

I am just interested, what makes you not want to rent to LHA tenants? I can understand that the risk of default is higher and I know there are some horror stories that put LLs off. But not all LHA should be tarred with the same brush. There are people like me who work full time and are genuine tenants who always pay on time but unfortunately they are on a low income and cant afford the high prices in London.

Also, why would a months extra security not help? And I thought offering the 2 year contract would help when there is a landlord who wants to rent longterm and not have the hassle of finding new tenants every 12 months.

Incyder

Wee_Willy_Harris wrote: »

People commit to a 25 year mortgage with no more security than the OP. I don't see the difference.

Not from a starting position of needing govt help for the monthy payments they don't.

Wee_Willy_Harris

Incyder wrote: »

Not from a starting position of needing govt help for the monthy payments they don't.

Oh, plenty did in the good old days of MIRAS. And plenty still do, with the wide variety of in work benefits available.

smj43

Incyder wrote: »

Not from a starting position of needing govt help for the monthy payments they don't.

We are talking about renting here, not a mortgage.

Please if you can't help, don't post. You aren't helping by judging me.

I work full time, I earn around £900 per month. That isn't my fault, I am working, I am looking for a higher paid job. Unfortunately they aren't handed out on a plate.

Until I get a better job and until my partner goes back to work, what do you suggest I do?

Sharon87

smj43 wrote: »

Thank you for your post. It is really good to hear a landlords perspective. Especially since you are a landlord in the area I am looking.

I am just interested, what makes you not want to rent to LHA tenants? I can understand that the risk of default is higher and I know there are some horror stories that put LLs off. But not all LHA should be tarred with the same brush. There are people like me who work full time and are genuine tenants who always pay on time but unfortunately they are on a low income and cant afford the high prices in London.

Also, why would a months extra security not help? And I thought offering the 2 year contract would help when there is a landlord who wants to rent longterm and not have the hassle of finding new tenants every 12 months.

Because if you don't pay your rent on time, they're stuck with you for 2 years unless you fall behind by 8 weeks and then they have to go through procedures to evict you. a 6 month contract means less risk for the LL and after 4 months if you don't keep up with your rent they can hand you your 2 months notice.

Extra deposit should be appealing though.

Unless questions are raised your LL/LA doesn't even need to know you're claiming a bit of HB/LHA. Honesty is the best policy some times, but if you're in the middle of a contract and lose your job your LL doesn't have to know. I told HB people not to contact my LL/LA when I am unemployed. New contracts are a bit different though.

Good luck, explain the situation and I'm sure they'll be happy to have you. Do you have a good reference from previous LL?