Savings & Renting

MoneySave23

Is it possible to rent a small 1 bed or studio flat if you have stock market assets and intend to pay for the rent with money earned from those investments and a small side income from online self-employment? In other words, no stable, secure, long term job (yet)? 

Would it depend on the lettings agent?

Voyager2002

As a general rule, if the landlord is unhappy with your income they will accept you if either (i) you have a guarantor with an acceptable income; or (ii) you pay for the first six months in advance.

MoneySave23

Voyager2002 said:

As a general rule, if the landlord is unhappy with your income they will accept you if either (i) you have a guarantor with an acceptable income; or (ii) you pay for the first six months in advance.

Pay for the first six months in advance.

I assume:
- I'll need to show lettings agent with proof of income such as bank statements showing the six months rent, and more rent if I intend to rent the flat for a longer time?
- I'll also need to show tax records for self-employment?

If I showed the lettings agent a large amount of money in bank accounts and broker accounts, would they likely accept me over the other renters even if I don't have a secure job like them? In other words, does having 'a lot of cash' work in my favour when renting, or does stability and job matter more to the agent?

MoneySave23

To pay all the rent up front for the duration of my stay.  Then, job and monthly income are less important to the agent, right? 

Grumpy_chap

MoneySave23 said:

To pay all the rent up front for the duration of my stay. 

Voyager2002 said:

As a general rule, if the landlord is unhappy with your income they will accept you if either (ii) you pay for the first six months in advance.

 Actually, many LL's dislike this as it is a trick of cannabis growers.

london21

Might struggle to find accommodation without !!!!!! of stable income. As stated above some landlords might ask for a guarantor or pay 6 months rent in advance.  

[Deleted User]

Paying 6 months upfront is a sign of unstable income, yes you might have the outlay for the initial 6 months but agents/LL's might worry if you will have money in 6 months time to carry on paying the rent or if you might refuse to leave if you don't.