Rent4Sure declined

niechea

Hi,

Myself and my partner are in the process of trying to rent a property. I have recently moved into the field of contracting whilst my partner is in full time but fairly low paid work.

I was declined by Rent4Sure tenancy referencing agency on the basis that I cannot cover my rent. The reason was that my contract (6 months) doesn't cover the tenancy agreement period (12 months) despite my contract value being twice the value of my share over a 12 month period. My letting agent understands this but cannot proceed because they are bound by the rules Rent4Sure have set out.

They asked me to either provide a statement showing I have savings, the value of which would be more like a deposit for a flat, of which I have around half the amount. Or, I would need to show I have work lined up past my 6 month contract (this doesn't really happen often). I have only recently moved contracting so I cannot provide 3 years of accounts. Lastly, I can get a guarantor.

I'd rather not take the last option as it puts other people through a credit check and it seems a little unfair on them.

I'm at a loss here and I'm being blocked by a silly clerical error. I've already paid £400 non refundable and I bet getting a guarantor will cost more.

Any suggestions?

Thanks in advance.

theartfullodger

There are no rules, no agent or landlord HAS to be bound by any checking company's opinion.

My best ever tenants I took solely on the basis that a neighbour I knew said "Mr Artful, they very nice people".

Sorry, keep looking, more carefully, there and elsewhere...


Sadly many people think such fees are only being charged so the agent/landlord can get their cut.

Such fees have been illegal in Scotland since at least 1984: Come on Engerland, catch up!

anselld

niechea wrote: »

My letting agent understands this but cannot proceed because they are bound by the rules Rent4Sure have set out.

They are not bound by the referencing rules, it is the decision of the Landlord. Ask them to put your case to the L or speak to the L directly.

niechea wrote: »

I'm at a loss here and I'm being blocked by a silly clerical error.

It is not a clerical error. If the L wishes to accept the referencing decision then you will have to accept it or negotiate an alternative. Some L can be persuaded by offering payment of some more months rent in advance for example.

eddddy

It may be that the LL wants rent insurance through rent4sure. And insurance won't be available unless the tenant 'passes' the reference checks.

If the LL has decided that rent insurance is a good idea, it may be difficult to persuade the LL not to have it for this tenancy.

niechea

Hey, thanks for the feedback guys.

Yes, the landlord had previous bad tenants (unpaying) and the agent referred to taking insurance through rent4sure as a possibility.

I've asked them to contact the ll directly and get his opinion on it. I could pay them upfront for more months, but that wouldn't leave me in an awesome place for new furniture!

Miss_Samantha

niechea wrote: »

My letting agent understands this but cannot proceed because they are bound by the rules Rent4Sure have set out.

Another one for the 'letting agent's hall of fame'.

G_M

If the landlord is taking out insurance against the tenant defaulting on rent, that insurance will almost certainly require the tenant to pass the vetting process specified by the insurer.

The landlord can, of course, ignore the vetting and use his own judgement in deciding who to let to, but not if he wants the insurance cover.

niechea

I guess I am left with the last option - it's a shame that this tenant checking agency is unable to take into consideration my line of work properly. It's not inconceivable that I choose not to work for 6 months of the year, not sure why they need me to be in 'employment' for the full 12 months

G_M

It's a computer. A simple list of questions to which the answers must be ticks.

there is no human with common sense reviewing the informationT

Thrugelmir

niechea wrote: »

I guess I am left with the last option - it's a shame that this tenant checking agency is unable to take into consideration my line of work properly. It's not inconceivable that I choose not to work for 6 months of the year, not sure why they need me to be in 'employment' for the full 12 months

Policy is driven and written at a macro level. To cover the business that the Company wishes to underwrite. Too many variables to underwrite at a micro level. Which would result in a huge increase in cost and pricing.

always_sunny

niechea wrote: »

I guess I am left with the last option - it's a shame that this tenant checking agency is unable to take into consideration my line of work properly. It's not inconceivable that I choose not to work for 6 months of the year, not sure why they need me to be in 'employment' for the full 12 months

If you were the LL would you take on a tenant on those conditions, especially if the LL had problem in the past? What would happen if in 6 months you don't find another contract?
Unless this is the only property available, you also have the option of finding one that suits your needs.