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How to 'win' rental property with multiple offers?
danielsmithlondon
Posts: 4 Newbie
Hi there,
I am very very interested in a flat that has come up for rent in my ideal location. My partner and I are both young professionals, but have both taken a year out to study a masters programme at the local (prestigious) university. We are being funded by our companies. But this amount isn't enough to cover the criterion of 35 x monthly rental, used by the estate agency. We have considerable savings. My father would be happy to be a guarantor for the property as he earns over the criterion.
We will be able to provide good references. The estate agency is very haughty.
We can move in on the day that they landlord wants, and will be able to commit to at least a year, with the hope of staying for two. We have the cash in the bank for the year's rent, and would be very willing to offer to pay 6 or 12 months rent in advance, if this will help us leverage the position. Would offering to pay another £50 or £100 a month help?
The landlord is apparently very fussy, and ideally wants a single person or professional couple with no children or no pets. (We have neither). The estate agent has been honest in saying just how in demand this property is, as it is well priced for the area.
Other than this, we are not sure what else we can do to convince the landlord to pick our application. Any thoughts?
I am very very interested in a flat that has come up for rent in my ideal location. My partner and I are both young professionals, but have both taken a year out to study a masters programme at the local (prestigious) university. We are being funded by our companies. But this amount isn't enough to cover the criterion of 35 x monthly rental, used by the estate agency. We have considerable savings. My father would be happy to be a guarantor for the property as he earns over the criterion.
We will be able to provide good references. The estate agency is very haughty.
We can move in on the day that they landlord wants, and will be able to commit to at least a year, with the hope of staying for two. We have the cash in the bank for the year's rent, and would be very willing to offer to pay 6 or 12 months rent in advance, if this will help us leverage the position. Would offering to pay another £50 or £100 a month help?
The landlord is apparently very fussy, and ideally wants a single person or professional couple with no children or no pets. (We have neither). The estate agent has been honest in saying just how in demand this property is, as it is well priced for the area.
Other than this, we are not sure what else we can do to convince the landlord to pick our application. Any thoughts?
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Comments
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What University ?0
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Cambridge. Does that make a difference?0
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danielsmithlondon said:Cambridge. Does that make a difference?
(my response was tongue in cheek sorry!)
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Has your partner already posted about this?£216 saved 24 October 20146
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About 10 years ago I was in the position of wanting to rent, having good savings but no current income. I ended up agreeing to pay 6 months rent in advance (and decided to end the contract at 6 months). I don't think a guarantor or references were required, although it was a long time ago! I don't think the place was particularly in demand though, they might have chosen someone else if they'd had another offer.0
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The similarities are striking: Estate Agent Refusing to allow us to view a property — MoneySavingExpert Forumyouth_leader said:Has your partner already posted about this?
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When I wanted to rent somewhere in a city where demand was much greater than supply and viewings involved at least 10 prospective tenants at the same I offered an extra £50 a month. The landlord chose me. It worked out well for me too as it was one of the few unfurnished properties available and I was paying more than £50 a month for storage.0
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SDLT_Geek said:
The similarities are striking: Estate Agent Refusing to allow us to view a property — MoneySavingExpert Forumyouth_leader said:Has your partner already posted about this?Its Deja Vu all over again.Op could ask the EA if an extra £100 a month plus a guarantor who can meet the 35x multiple criteria will help. However, if they've let slip they are both doing a 1 year masters, that may give the LL the idea they'll be leaving after a year and they'lll have to go find another tenant so that's definitely not in their favour.EDIT ; I see that the EA is 'haughty' but OP goes to a 'prestigious' university'.Pot Kettle ?1 -
Are you the lawyer or the banker?2
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Well you do get those haughty estate agents that hang around prestigious (nose scrapes painfully on floor) universities, I assume because they are so used to dealing with the creme de la creme of academic excellence . Although a lot of riff-raff allowed in to Cambridge (University of) nowadays, you just have to keep quiet if you went to a state school.AnotherJoe said:I see that the EA is 'haughty' but OP goes to a 'prestigious' university'.
Pot Kettle ?
Tough out of cheek - OP - if you are required/want to rent privately* your options seem to be as posted above to offer more money or find another, less prestigious, property.
*A lot of colleges offer post-grad college-owned accommodation is this not an option?
https://www.postgraduate.study.cam.ac.uk/why-cambridge/support/accommodation-service
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