paying rent in advance

22bear

Maizy wrote: »

22bear

Do you know that you definitely need to offer rent up front like this??? We thought exactly the same and went through a high street agent, had lots of defaults etc, mortgage court order, took the chance and it still got accepted. Had it been declined we would then have to look at other areas of payment. On the forms, we just mentioned we had some defaults hence having to move to lower outgoings. They obviously take all factors into account, not just the credit check. We went BR two months later and haven't heard a thing from the agent about this and are 9 months into the agreement.

Will the fact you are paying up front affect you when doing your SOA i.e. you have already paid the rent so will the OR take the money from your income???? Pretty sure they wont allow you to save the income for the next 6 months rent although I could be very wrong. Just a thought.

I wish you well, I know how difficult this really is so I've every empathy with you. xxxxxx

Thanks for your empathy Maizy and it does give me encouragement that you were able to rent without problems...

...I'm only going to offer the advance rent as a sugegstion if the LL is concerned with my credit history...if they are happy to offer me the tenancy on a monthly basis then so much the better, but from my research both on here and elsewhere, in circumstances like mines, offering advance rent payments of 6 months and providing a guarantor seems commonplace...and, more importantly, workable

But you raise a good point about how the OR deals with this...obviously I know that they will have no issue with me paying 6 months rent upfront...but I have no idea if they will allow me to "stockpile" the monthly rental amount from the time I move in, until the 6 month period is over so as to allow me to make another 6 months advance payment....I think if my IPA is set up without difficulty where monthly rent is a legitimate allowance, then I can't see why that would be an issue especially if I am completely transparent with the OR and ask their permission to do this...after all, they will know where the money is going to...perhaps someone with some expert, informed knowledge on this scenario can advise me further with this?

TENANT

As a tenant now and have been for the past seven years I too was BR and have CCJs but you are not dead in the water, there are some LL with their heads so far up............. But move on and find others I have as I say been renting for 7 years.
I HAVE ON THIS OCCASION NEEDED TO FINDA guarantor but not always the case, ne'er give up and be honest!

TheGardener

Its not unusual for LLs to ask for 6mths rent. 11 years ago I came to renting between selling and buying a house and so had no LL reference to offer and the private LL's agent insisted on 6mths rent up front. At the time my credit history was perfect and I was working full time.
An excellent reference from your current LL plus the normal deposit and a month rent up front should be fine - its the good reference and proof of current affordability that the LL should be really interested in.

owlet

I wouldn't mention the possibility of bankruptcy to the LL, it might not happen.

mcjwills1958

I enter an IVA and had to rent property, if it is being rented via an estate agent they will expect a guarantor and they will have to be credit checked as well, unfortunately at a cost. But assuming you have one of those you should have no problem,

alastairq

if it is being rented via an estate agent they will expect a guarantor

Some will do, many will not.

Much will depend on what the LL client stipulates to their agent.

In my experience, guarantors probably only sought for the younger potential tenant.

Certainly I would refuse absolutely to provide a guarantor..[and would refuse to be a guarantor, for that matter.]

In the end, much will depend on location.

tigerfeet2006

This is a 3 year old zombie thread that has been revived.