Renting, guarantor or 6 months upfront

Belindav123

Hi

We are in the process of selling our house, and moving into rented accommodation.

I am a stay at home mum, and my husband is working.

We have offered 6 months rent up front as we will have the money from the sale of the house. ( used this to get the rent reduced by £25 per month)

The letting agent has said that is fine for the first 6 months, but thereafter I will need a guarantor or have to pay 6 months upfront again.

My husband earns £40k and the rent is £650 so affordability is fine.

Is this normal?

thanks in advance
Belinda

happy_bunny_2

Not unheard of.

But after 6 months you will go onto a monthly tenancy I think, but they may well give you notice to leave at the 6 month point if you don't agree to it.

Did you fail the credit check or just because no prior rental history?

G_M

It seems unusual to require upfront rent or guarantor unless there is something you have not told us - eg CCJ, poor creit rating etc.

happy_bunny wrote: »

But after 6 months you will go onto a monthly tenancy I think, but they may well give you notice to leave at the 6 month point if you don't agree to it.

What are the terms of the current tenancy. What exactly does the Tenancy agreement say?

When a Statutory Periodic (rolling) Tenancy arises following a fixed term's end, the conditions are the same as those of the preceeding fixed term.

So if the original TA says "6 months rent paid i advance" then that will apply to the SPT too.

Though quite where that leaves things if the tenancy is ended after another 4 months by either side, I'm not sure.

Though, again depending on the exact wording, the 'periods' of the SPT may actually be 6 months......

Belindav123

No the agent confirmed we both passed the credit check.

The only reason for me needing a guarantor in 6 months is because I don't work.

My husband does not need a guarantor as he is working.

They have said they need to secure themselves should my husband vacate the property and leave me there?

MadelinesMum

My elderly parents sold their property but wanted to wait to find their perfect bungalow. They rented and paid upfront for 6 months. When they still had not found anywhere to buy and 6 months was nearly up, the LL would only agree to them paying 6 months in advance again. hth

G_M

Belindav123 wrote: »

They have said they need to secure themselves should my husband vacate the property and leave me there?

Just because he vacates does not mean the tenancy ends. So nor does his liability as a tenant.

Still, there is no accounting for agents.