Another first time renter

Legacy_user

I'm looking to leave my parents very soon as they are planning to sell the house. I am a single parent of a primary school child working full time and not receiving benefits. Most of the 2 bed flats ive viewed have been 900-1000pcm. I'm worried I might fail when in comes to referencing as i earn 28k and fall slightly short of the affordability side of things on anything over 930pcm. My credit score is 999 but i don't have previous landlord refs as I've never rented! I do have significant savings so could easily afford to pay the whole year upfront (i would never do that though!) but i was wondering what my chances were of being taken on as a tenant in this situation? I have already registered with the council but i don't fancy the idea of being punted from to and from various hostels and b&bs. Also I need to be close enough to the school and I don't want to risk being placed too far away if I'm eligible for any help (which is unlikely anyway!) Thanks

System

Forgot to add that I don't have anyone that can act as a guarantor - my mum doesn't work and my dad is self employed and approaching retirement

HampshireH

What area are you looking to rent in?

You earn a good wage. I hope you find something slightly cheaper - don't forget you will need to cover all bills and furnish it too.

Speak to your local agent & ask what their affordability criteria is.

System

South Croydon area. My daughter's school is in Purley so I'm trying not to go too far out. Could it be that these properties are overpriced? I was always planning on making slightly lower offers but was unsure how low i could go without having the phone call cut off! If a property is advertised at 995 would 900 be unreasonable to offer?

buggy_boy

I think you should be ok, find a property you like and then be honest with the estate agent, if it is a problem rather than offer a full years rent offer 6 months rent, this shows the landlord you are savy with money.

You say you dont claim any benefits but surely you get child benefit? Thats another £1k, not sure all estate agents would except it but its still income.

buggy_boy

Lulabelle18 wrote: »

South Croydon area. My daughter's school is in Purley so I'm trying not to go too far out. Could it be that these properties are overpriced? I was always planning on making slightly lower offers but was unsure how low i could go without having the phone call cut off! If a property is advertised at 995 would 900 be unreasonable to offer?

That area of London for a 2 bed flat you are going to be looking at around the £1000 mark... when it comes to renting offers are not so much of a done thing, if you offered 975 then I think you would have a chance but honestly unless you get extremely lucky 900 will not get accepted and you risk getting the letting agents annoyed if you do this a couple of times unsuccessfully (Which is likely) and they probably wont be interested in working with you.

I would never condone this sort of behaviour but I know tenants have got away with it in the past when you are really close saying you are getting a pay rise in 3 months time that will push you just over the threshold, you could offer to pay 3 months rent upfront...

System

I do get child benefit, i didn't think i could use that as part of my income but it's def worth mentioning to the agent. Thanks for that!

System

Also I've just received a payrise last month which is evident from my payslips so that ruse wouldn't work for me unfortunately! I will just be honest with the agents, the worst that can happen is that they say no i guess

[Deleted User]

I feel like a stuck record lol.., but my ex managed to get a property through Openrent when LA's wouldn't even look at him. Openrent tends to be used by LL's so you'd be dealing with a LL directly, and they usually don't use the formulas LA's use. If you can show your savings etc, they might be ok renting a higher value place to you. However the cheapest place I saw for Purley was !,200 a month.

If this is not manageable, you might have to consider finding a cheaper area and new school for your daughter. If she's young, it might not be as disruptive as you think, although you might lost some help from your parents.

System

I called the agent of a place i viewed priced at 1000pcm and explained the situation. I also emailed him a link to a near identical property not too far away that was on the market for 950pcm and asked if he could match it...he said he could get the LL on board if i can move in quickly! He also ran his own affordability check and said i should be able to pass the referencing. Fingers crossed the LL accepts my offer. Thanks for all your help

TamsinC

My daughter is renting just above her affordability in Guildford - wage of £25K affordability is £833 p/m very little other than house shares at that price. She has a 1 bed flat now at £850 p/m she just paid the difference in the affordability and the rent up front so 12 x £17. Then she pays £833 p/m rent. On talking to the many lettings agents whilst looking for a place, this was a very usual way of getting around the 'rules' in a very highly priced market.