Paying rent as one lump sum

RoxRoxBling

Every now and again, I have ideas of things to do with mymoney. But before I do anything, I like to ask advice and suggestions from MSEs.So as always, I appreciate all the advice!

I’m looking at renting, but I may be seen as a bit of a “riskytenant” I’ve not been in my job for that long, I’m under 25 and I may struggleto get a guarantor. However, I have a decent amount of savings.
So my thought was to ask if I could pay the 6 months’ rentupfront (this will be taken out of my savings, and I’ll still have a cushion ofsavings left) In addition if the landlord knows the rent has been paid perhaps Idon’t need to pay some initial fees for example for credit checks, thereforesaves me a bit of money.

As for all the bills etc, that can come directly out of mywages. And I'll still have enough left over to build my savings up.
Your thoughts, advice, tips and suggestions please!

Mistral001

Might be a better idea to offer this money as a deposit. I cannot see any landlord agreeing to what the OP is suggesting.

christopher1977

RoxRoxBling wrote: »

Every now and again, I have ideas of things to do with mymoney. But before I do anything, I like to ask advice and suggestions from MSEs.So as always, I appreciate all the advice!

I’m looking at renting, but I may be seen as a bit of a “riskytenant” I’ve not been in my job for that long, I’m under 25 and I may struggleto get a guarantor. However, I have a decent amount of savings.
So my thought was to ask if I could pay the 6 months’ rentupfront (this will be taken out of my savings, and I’ll still have a cushion ofsavings left) In addition if the landlord knows the rent has been paid perhaps Idon’t need to pay some initial fees for example for credit checks, thereforesaves me a bit of money.

As for all the bills etc, that can come directly out of mywages. And I'll still have enough left over to build my savings up.
Your thoughts, advice, tips and suggestions please!

i payed my rent up front for 12 months and the landlord was fine with that. he also gave me a decent discount on the rent so make sure you ask for one.
I think i still had to pay the EA some ridiculous fee to prove i was credit worthy though:mad:

Loopgames

Mistral001 wrote: »

Might be a better idea to offer this money as a deposit. I cannot see any landlord agreeing to what the OP is suggesting.

Why not?

I assume you are a landlord and have your reasons so would be interested to know this as it was also something we were thinking of doing too.

demondoctor

I thought this was a pretty common thing when someone's credit/tenant worthiness could not be ascertained. I.e. first time renters

RoxRoxBling

Mistral001 wrote: »

Might be a better idea to offer this money as a deposit. I cannot see any landlord agreeing to what the OP is suggesting.

What do you mean by offer this money as deposit? You pay a deposit regardless.

RoxRoxBling

christopher1977 wrote: »

i payed my rent up front for 12 months and the landlord was fine with that. he also gave me a decent discount on the rent so make sure you ask for one.
I think i still had to pay the EA some ridiculous fee to prove i was credit worthy though:mad:

Well that's the thing, if one is willing to pay all of the rent upfront, then why do you need to prove your credit worthiness?!
What I like is that you got a discount :money: because end of the day, you're gonna pay the rent so if you've got the money and can get a discount then way not. Do you mind if I ask what percent of discount you got?

hardworking_mummy

I am a landlord and I would not accept a tenant who offered to pay 6 months in advance. I look longer term. I want a tenant with a good credit history, a solid work history and a good checkable tenancy history. If I have any doubts on the ability of the tenant to afford the rent then I insist on a home owning guarantor, and an agreement drawn up by a solicitor (not the letting agent). The only time I did not do this (my first let) I lived to regret it. Now I have firm rules I stick to and it has worked well for me (so far). However there are landlords who will accept the rent up front out there, but I would be very careful if I were you.

christopher1977

RoxRoxBling wrote: »

Well that's the thing, if one is willing to pay all of the rent upfront, then why do you need to prove your credit worthiness?!
What I like is that you got a discount :money: because end of the day, you're gonna pay the rent so if you've got the money and can get a discount then way not. Do you mind if I ask what percent of discount you got?

instead of £750/month I pay £670/month

runninglea

Although it sounds good in theory for the landlord i.e they have 6/12months of rent.

Alot of the time the tenant does not 'want to be disturbed' for whatever reason.

Very recently a landlord told me that one of his houses had paid upfront but had had reports of a funny smell which was reported by nextdoor (which he also let out). He went around to investigate and the whole house was used as a cannabis growing place.

The tenant was a chef at a local restaurant

RoxRoxBling

runninglea wrote: »

Although it sounds good in theory for the landlord i.e they have 6/12months of rent.

Alot of the time the tenant does not 'want to be disturbed' for whatever reason.

Very recently a landlord told me that one of his houses had paid upfront but had had reports of a funny smell which was reported by nextdoor (which he also let out). He went around to investigate and the whole house was used as a cannabis growing place.

The tenant was a chef at a local restaurant

Perhaps not "a lot of the time" but only in the one example you have given.