Renting without employment

chesterpants

Hello all
Does anybody know if estate agents/landlords will rent out a property if you are unemployed but can pay using savings instead? Obviously will be able to provide bank statements and my credit rating is ok.
I am currently unemployed but will have a lump sum (estimating around 30k) from the sale of my house once it goes through and was planning to use this to pay the rent and deposit for the time-being. I will be looking for work but realise that I probably won't get something straight away!
P.S House sale, subsequent renting & job hunting due to separation.
I have tried asking advice from a couple of local estate agents but they weren't very helpful...hence my post:)

[Deleted User]

You may need either a guarantor or six months rent up front. This sounds achievable though. I'd keep going to LA's until you find one that's more helpful. Mention that you can pay six months rent upfront and have the savings to continue to do so.

Try, if you can to find out if you will be moving to an area where its possible to get the sort of job you are looking for with the experience and qualifications you have. Eventually your savings will run out obviously, and if you move to an employment black spot, you could have problems. Or could you work on a self employed basis instead?

plumfin

My mother in law moved in near us a few years ago, retired rather than unemployed, but the landlord and letting agents were more than happy for her to pay 6 months up front. Definitely worth making an offer. Hope you get sorted. Plum x

slopemaster

Depends on the landlord and letting agents...
I would probably ask for a guarantor, but the offer of 6 months rent up front is an attractive one.

chesterpants

Thanks for the advice...yes I had thought of offering a few months rent upfront as an incentive! Also I'm fortunate to have family members that can act as guarantors if the need arises.
Due to family and my daughter's school we are tied to the area we are currently in so will have to keep fingers crossed on the job front.
Thanks all...

Mercurial

My best tenant was someone who had major surgery and was unable to work, he paid 6 months rent so hopefully it won't be a problem for you. Good luck.

Viberduo

I would say the only places at ask for 6 months advance are the larger places since I have lived in about 7 towns in since I left home and only once been asked for 6 months in advance, so I went to another agency and told them I was a student(that was true) and they just wanted the regular and I never worked up arrears.

Most places just say 2 months in advance or 2 months plus rent in my experience but I have never lived in a posh area just working class areas.

Seems a bit stupid of agencies/LL to want 6 months rent in advance if someone on benefits struggles to pay 1 in advance, I would be suspicious(not of you since you said its savings from a house sell) if a random prospective tenant said they could afford 6 months rent with no problems.


I do though remember a few years ago offering a LL 3 months rent in advance plus a deposit and to get rent paid direct and proof my income could cover rent and bills and still have cash left over and he ended up renting to a couple on minimum wage who left after damaging property and owing rent, shows his problem with judging people!

Whiner

NormaHanrahan wrote: »

It is a little tough to get a house on rent while being unemployed. You need for a guarantee or 3-4 month advance payment of the rent.

Not if he's got the money in the bank he doesn't.

Why would he?