Will Most Agencies Accept 6-Months Rent Upfront Instead of Needing A Guarantor If Not Working?

FusionFury

Just a quick question

long story short.. I need to move ASAP, bad neighbours etc but need a guarantor for this place I like.. but was wondering if I can just pay the 6-months rent in advance for a 6-month tenancy instead of getting a guarantor? (then after they see I'm a good tenant after 6-months let me pay each month) as I'm not currently working so that's the sticking point and why I need a guarantor

Or is it down to each seperate landlord individually whether they would accept that? (I can't see why not unless they suspect I'm running a brothel or illegal business there)

I've always paid my rent on time with my current agency (I have a guarantor where I am now but they can't be my guarantor in my new place due to health reasons) so can get proof and reference from them that I'm a good tenant, already renting from private landlord/agency etc so hope that's enough with me paying 6-months rent upfront

Thanks MSE'ers :money:

theartfullodger

Sometimes: As far as I know there are no statistics to this.


But offering 6 or 12 month rent up front is considered a red-flag warning sign for many landlords, including me, of possible brothel or cannabis farm possibilities. Clearly not the case here though.


Just explain background, offer copies of bank statements showing income and regular, in-full, on-time, rent payments etc and if there are agents out there with half-a-brain they should hopefully see sense.

K80_Black

I've done this before when moving to a new town after a break-up - it helped that I was renting from the landlord directly, not through an agency. I could meet him, he could meet me, and I could explain my situation to him personally. He was reasonable and more than happy with a lump sum. I'd say you have a fairly good chance, but you won't know until you ask the landlord!

Mojisola

FusionFury wrote: »

I need to move ASAP, bad neighbours etc but need a guarantor for this place I like.. but was wondering if I can just pay the 6-months rent in advance for a 6-month tenancy instead of getting a guarantor? (then after they see I'm a good tenant after 6-months let me pay each month) as I'm not currently working so that's the sticking point and why I need a guarantor

I know someone who was in the same situation - the LL has accepted six months rent instead of a guarantor but that money isn't instead of paying the rent each month - it's a back-up in case the rent isn't paid.

The lump sum will be returned when the tenancy finishes.

If you're not working, you should be able to claim benefits to pay the rent.

pinkteapot

Interested as we're about to rent with no income. We're selling our house and relocating, and then need to look for jobs. We'll have significant money in savings, but we're stressing about renting a £700pcm property because of the potential for 'computer says no' to our employment status.

theartfullodger has worried me - we've been saying to lettings agents that we're happy to pay 6 months up front due to lack of income, but we've been offering that without them even asking so now I'm worried they think we're madams/drug dealers. :eek: Didn't realise that was a thing! Will be more careful.:rotfl:

theartfullodger

Aye, cannabis farms and "pop up" brothels (unfortunate expression..) are a real problem, and usually/often not covered by insurance..

G_M

Mojisola wrote: »

I know someone who was in the same situation - the LL has accepted six months rent instead of a guarantor but that money isn't instead of paying the rent each month - it's a back-up in case the rent isn't paid.

The lump sum will be returned when the tenancy finishes.

If you're not working, you should be able to claim benefits to pay the rent.

I hope the landlord in that example

a) has placed the 6 monthsrent in a deposit protection scheme (as that's what it is - a deposit) and

b) understands that a deposit of that size is considered a 'premium' which provides additional legal security to the tenant beyond the normal AST protection

G_M

theartfullodger wrote: »

But offering 6 or 12 month rent up front is considered a red-flag warning sign for many landlords, including me, of possible brothel or cannabis farm possibilities. Clearly not the case here though.
.

Indeed.

The other reason LLs won't always accept this upfront rent is that although it provides assurance that the 1st 6 months rent is paid, it provides no assurance thereafter. If the tenant has no income, month 7 may well not be paid. And/or month 8....

Tenancies do not just end after 6 months even where the fixed term is 6 months, and the cost and hassle of eviction is something LLs prefer not to have to deal with.

FusionFury

G_M wrote: »

Indeed.

The other reason LLs won't always accept this upfront rent is that although it provides assurance that the 1st 6 months rent is paid, it provides no assurance thereafter. If the tenant has no income, month 7 may well not be paid. And/or month 8....

Tenancies do not just end after 6 months even where the fixed term is 6 months, and the cost and hassle of eviction is something LLs prefer not to have to deal with.

I will get help with benefits to pay the rent after.. I can show the landlord/agency that through bank statements etc.. and I have a history that I've paid my rent where I currently am (which is more) regularly every month without issues, and I'm generally a good tenant as my current agency/landlord can reference if need be.

I was just wondering how likely it was the landlord would accept me without a guarantor if I pay the 6-months in advance? like it is likely from people's experiences?

paulinefromtheuk

Dear OP.
I'm a LL. I've had an offer like this and was going to go ahead with it as I met the proposed T via letting agents, they did the checks and clean bill of health, the person was pleasant, had nice family but divorced and he'd been out of work not because he was a lazy money grabber like 70% of those on benefits but had genuine reasons for being out of work, lost his drivers licence through drink/drive and had been a cab driver for about 17 years. So liaise with the LL's and see.
Good luck.

FusionFury

paulinefromtheuk wrote: »

Dear OP.
I'm a LL. I've had an offer like this and was going to go ahead with it as I met the proposed T via letting agents, they did the checks and clean bill of health, the person was pleasant, had nice family but divorced and he'd been out of work not because he was a lazy money grabber like 70% of those on benefits but had genuine reasons for being out of work, lost his drivers licence through drink/drive and had been a cab driver for about 17 years. So liaise with the LL's and see.
Good luck.

Thanks :money:

It's a shame those on benefits for genuine reasons (disability, injury etc) get put in the same bracket as the self-inflicted wasters on benefits i.e the alcoholics and druggies who abuse the system and trash places