how to rent with low income

chiefnoodle

So I want to rent a flat but income only £3k/year ATM. This is not including benefits, but as currently in process of separating I can't give the agent my current benefits income (as a couple), neither do I know amount I'll get in future (as a single).

There are basically 3 options I can think of to make an agent consider me:

- My parents can be guarantors - they earn good salaries
- I can pay say 4-6 months upfront, possibly continuing to pay every month so that at every point in time I'm paid up several months in advance
- the deposit can be say 6 months rent instead of just 1 months.

I suggested the first 2 options to the agent but they didn't seem too happy. I told them I've never paid rent late in my life, offered to show them bank statements showing that this is the case, they can speak to agent of previous rental, I've very good credit rating/history.

They just said that they have an external agency which credit checks and recommends whether or not to accept prospective tenant based on income and I'm basically just too low.

Are there any other options how to get agent to consider me? (please don't say earn more). Just seems ridiculous my parents are helping out ATM there is zero chance I won't pay in full and on time, yet seems no way to get them to work with this...

AnotherJoe

Find a different flat with LL/agents that will accept guarantors.
Rent a room, rather than a flat, until you've built up better credit.
Earn more

chiefnoodle

suppose thats probably most practical... but have kind of set my heart on this flat great location nicely furnished etc. Is there anything else I can do?

I've even considered my parents renting it in their names and me living there, but then I won't be able to claim housing benefit portion of uni credit which would've paid about half the rent...

Thanks!

Murphybear

Sorry, your finances don't make sense. Your income is only £3000 pa which is only £250 pcm. That's a lot less than JSA and if you were on that the council would probably pay all the rent. If they only pay half it is going to leave you very little to pay your bills not to mention food etc.

I don't think you can afford this and regrettably no Ll/LA is going to consider you until your finances are sorted. Although having a guarantor may sound good most LLs/LAs would rather have a tenant who doesn't need one because chasing a guarantor is a lot more hassle for them.

Really sorry to sound negative but I'm trying to be realistic for you

sal_III

I'm afraid some LAs are just not flexible at all in cases like yours, so you are unlikely to get this flat. The only option i can think of is to insist they put your offer to the LL for him to decide, but it's a long shot and if there is a lot of demand for that flat the LL will likely go for a "safer" tenant.

Plus what AnotherJoe said

macman

chiefnoodle wrote: »

suppose thats probably most practical... but have kind of set my heart on this flat great location nicely furnished etc. Is there anything else I can do?

I've even considered my parents renting it in their names and me living there, but then I won't be able to claim housing benefit portion of uni credit which would've paid about half the rent...

Thanks!

So they'd be subletting, and consequently in breach of the terms of the lease. Have they already agreed to be guarantors, do they understand that this is like writing a blank cheque?
Even if you pay a year upfront, no one is going to touch you with next to no income, because there is no guarantee that you can afford the rent at the end of the AST.