Renting somewhere with no regular income

Welshgirl77

I am currently in a full time job, but not sure how long I can stay due to the stress of it all!!  I also have a weekend job, which I am lucky in that I currently have regular income which at present is enough to cover my rent, although as it is a 'zero contract' role am not guaranteed shifts.  At present I have been lucky enough to save money that would enable me to pay rent for at least 6 months.  Am looking to rent together with my bf who has a regular income.
My question is would the fact that I do not have a regular income put landlords/landladies from letting me rent from them despite having enough savings.  Many thanks in advance 

Edit:  Just to add, I do intend to seek full time work again, but at present have not got the headspace to do the whole job seeking!  Thus giving up my full time position will help with this  

diystarter7

Hi
You may be able to get a  nice rental with a guarantor. 
Good luck.

chrisw

You need to ensure it would be affordable to you.

On the face of it, you could rent now on the basis of your income and your bf's income. Once rented, you could choose to give up your full time job if you wish and it's unlikely the landlord would ever know or be bothered as long as the rent was being paid.

But keep in mind all the additional costs - council tax, energy, rising food costs, etc. The last thing you want is to be struggling with money 6 or 12 months down the line.

sheramber

What happens after your savings are used up?

Can you afford to pay the rent and other bills on your partner's pay?

Is your partner happy with that arrangement?

Ath_Wat

Welshgirl77 said:

I am currently in a full time job, but not sure how long I can stay due to the stress of it all!!  I also have a weekend job, which I am lucky in that I currently have regular income which at present is enough to cover my rent, although as it is a 'zero contract' role am not guaranteed shifts.  At present I have been lucky enough to save money that would enable me to pay rent for at least 6 months.  Am looking to rent together with my bf who has a regular income.
My question is would the fact that I do not have a regular income put landlords/landladies from letting me rent from them despite having enough savings.  Many thanks in advance 

Presumably if you quit your full-time job you don't intend to not get another job?  Just rent now, but try and find somewhere that you will both be comfortable paying for in the short term on your bf's income and your weekend income only.

Then if you want to quit your job and find another the landlord doesn't even necessarily have to know about it.

youth_leader

I was selling my house at auction and had to find a rental - and was really shocked to be turned down at my first viewing because they said I didn't meet the criteria.  I had £££ savings, but they don't count, they work on a calculation of your annual income, which has to be proved, multiplied by approximately 30 times the rent.

You might find this calculator useful before you start looking.    Tenants rent affordability calculator on rentright.co.uk

london21

Will be very hard without a guarantor.

A lot of landlords are very selective at present due to the current economic environment.

Landlords mainly look at income and not savings.

If you do not have regular income coming in, how long do you expect your savings to cover you for?

Without a guarantor or regular income, some might allow 6 months advance rent or even 6 months tenancy to begin with. 

The rental market in certain areas can be competitive so you need to be well positioned to have a chance.

Ath_Wat

london21 said:

Will be very hard without a guarantor.

A lot of landlords are very selective at present due to the current economic environment.

Landlords mainly look at income and not savings.

If you do not have regular income coming in, how long do you expect your savings to cover you for?

Without a guarantor or regular income, some might allow 6 months advance rent or even 6 months tenancy to begin with. 

The rental market in certain areas can be competitive so you need to be well positioned to have a chance.

But they do have regular income coming in - they just might lose it in the future.  That's true of nearly everyone.

MikeJXE

I was in a similar situation a few years back, my pension didn't reach the threshold but I had savings of over 50,000 I offered 6 months up front, they asked would I be prepared to pay another 6 months up front at the 3 month mark, I refused but they dis accept me. You could try an upfront payment it might work