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How do I go about renting privately with no gurantor and not earning 3x the rent?
Comments
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BitterAndTwisted wrote: »Pay the six months rent upfront and save the next six month's rent during the AST.
Sounds good.
To avoid starting another thread. How long does the whole process of signing for a property take? If I applied 1st of june would I be in the property for august?0 -
BrettMorganxD wrote: »Sounds good.
To avoid starting another thread. How long does the whole process of signing for a property take? If I applied 1st of june would I be in the property for august?
If you are talking about renting privately, then it only takes a few days for checks and references to be done. Provided the property is empty and the LL is happy with you becoming their tenant, you could move in within a couple of weeks, rather than months!0 -
If you are talking about renting privately, then it only takes a few days for checks and references to be done. Provided the property is empty and the LL is happy with you becoming their tenant, you could move in within a couple of weeks, rather than months!
Thought a credit check took few weeks, like a CRB.
I decided I am going to pay 6 month in advance anyway, maybe then they wont need to check me. Who can references come from? they usually need two and I only have 1 prev LL0 -
BrettMorganxD wrote: »Thought a credit check took few weeks, like a CRB.
I decided I am going to pay 6 month in advance anyway, maybe then they wont need to check me. Who can references come from? they usually need two and I only have 1 prev LL
When I last credit checked a tenant, it was done in 24 hours. Some agencies even reply on same day. Depends who the LL/agent you choose uses and how much you pay.
Regarding references, it is usually an employer, possibly a character reference (someone who knows you well but not a relative), and previous landlords. You should be asked to complete a tenant application form, so agent can contact the references direct, and give your consent for credit checks etc.0 -
When I last credit checked a tenant, it was done in 24 hours. Some agencies even reply on same day. Depends who the LL/agent you choose uses and how much you pay.
Regarding references, it is usually an employer, possibly a character reference (someone who knows you well but not a relative), and previous landlords. You should be asked to complete a tenant application form, so agent can contact the references direct, and give your consent for credit checks etc.
So if I don't earn 3x the rent I could be in with the chance. Does a tenant app form include a bit where you can "tell us about anything you think we should know" on the last page.
I think paying 6 month advanced will be good0 -
BrettMorganxD wrote: »So if I don't earn 3x the rent I could be in with the chance. Does a tenant app form include a bit where you can "tell us about anything you think we should know" on the last page.
I think paying 6 month advanced will be good
I think you have been told before that the 3x the rent is not set in stone, so may not be an issue. Many LLs/agents will just be concerned that you do not have a bad credit history, CCJs, bankruptcy etc, you have a good income and your references from previous LLs and employer are favourable.
It all comes down to discussion at the time you view a property or meet the agent/LL. Tell them you would be happy to pay 6 months upfront if your income should cause them any concern. Until you get to that point, there is little anyone here can advise, as all agents and LLs are different in their perceived criteria for a good tenant.
Remember, if you are paying 6 months in advance, you will also need to find the agent fees - could be £200'ish to set you up with the tenancy, plus a month-6weeks rent as a deposit. So make sure you budget for all these costs aswell as 6 months upfront.
TBH I think you are worrying far too much about this before you have even started looking for a property. How do you know how much 6 months rent in advance would be anyway?
As for the tenancy app form - No I don't think there is an extra "tell us about yourself" section. You are applying for a tenancy, not a job, so although the LL/agent want to be sure you come across as a good risk as a tenant, they do not need your life story!0 -
I think you have been told before that the 3x the rent is not set in stone, so may not be an issue. Many LLs/agents will just be concerned that you do not have a bad credit history, CCJs, bankruptcy etc, you have a good income and your references from previous LLs and employer are favourable.
It all comes down to discussion at the time you view a property or meet the agent/LL. Tell them you would be happy to pay 6 months upfront if your income should cause them any concern. Until you get to that point, there is little anyone here can advise, as all agents and LLs are different in their perceived criteria for a good tenant.
Remember, if you are paying 6 months in advance, you will also need to find the agent fees - could be £200'ish to set you up with the tenancy, plus a month-6weeks rent as a deposit. So make sure you budget for all these costs aswell as 6 months upfront.
TBH I think you are worrying far too much about this before you have even started looking for a property. How do you know how much 6 months rent in advance would be anyway?
Because there is a maxium rent I am willing to go for. That is how I know how much the rent will be.
I have factored those costs in don't worry. I am saving almost every penny anyway so will have plenty put by me
. It is just I think they might see less than a year on the job unfavourably.
Do you personally rent to people who don't earn 3x the rent. If it is relevant my credit score is 7480 -
BrettMorganxD wrote: »Because there is a maxium rent I am willing to go for. That is how I know how much the rent will be.
I have factored those costs in don't worry. I am saving almost every penny anyway so will have plenty put by me. It is just I think they might see less than a year on the job unfavourably.
Do you personally rent to people who don't earn 3x the rent. If it is relevant my credit score is 748
My current and last 2 tenants have been LHA, so didn't come into it!0 -
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