Renting as pensioner

Labourer

I have a substantial pension pot and savings that I draw down as and when needed. I have no regular income other than state pension. I want to sell my house and rent while I look for a new house to buy. Will I have any problems renting without regular employment/income?

MultiFuelBurner

Why do you want to sell then rent then buy?

Which leads onto, how long do you envisage renting for?

Vannaa

First time I rented with no history or reference or job, I paid a year's rent in advance which seemed to suit everyone.

SandyN21

Labourer said:

I have a substantial pension pot and savings that I draw down as and when needed. I have no regular income other than state pension. I want to sell my house and rent while I look for a new house to buy. Will I have any problems renting without regular employment/income?

I've been in the same position since last year after being a London house owner for over 40 year.  It was much easier then to find rental properties in the area I wanted to buy my 'forever home' (Hertfordshire).  Together with a credit check, my landlord's letting agency wanted proof that I had savings to cover at least 24 months rental - which I have from the proceeds of selling my house + a redundancy payout. 

Labourer

Not sure how long I will rent -- for as long as it takes me to find right property to buy. Thanks for useful feedback all.

FreeBear

Seems to be a growing number of older people wanting accommodation on spareroom - One or two are selling their existing home (or have just sold) and want something short term before purchasing another house.

I don't think your situation is that unusual, but you will be competing with younger people looking for longer term rentals. Whether you would be considered a more attractive tenant would be down to the individual landlord.

MikeJXE

I was in the same position 3 years ago, low income but reasonable savings

Offered 6 months rent up front on the next two rentals

My last rental didn't need funding up front and I have decided to rent now savings rates have improved substantially 

I will stay in this flat for the rest of my life (hopefully) it suites me 

macman

Totally depends on the LL. Not all do credit checks. Some would accept 6m or 12m rent upfront, which you would be in a position to pay after sale.
if it's done through an LA, the greater the likelihood that you'll need to pass a credit check, show proof of income etc.

Mstty

Personally, with money behind me, perhaps use it to travel and stay either in the UK or Europe whilst you find your next home. But that's just us and one thing we have discussed when it comes to the big downsize in about 25 years.

However I think we would chain the properties up if we could and have any work done on the downsize property whilst we were travelling.

dimbo61

Lots of housing association over 55,s  properties in most towns and cities.
Council and Private companies rent to Pensioners

jonnydeppiwish!

Mstty said:

Personally, with money behind me, perhaps use it to travel and stay either in the UK or Europe whilst you find your next home. But that's just us and one thing we have discussed when it comes to the big downsize in about 25 years.

However I think we would chain the properties up if we could and have any work done on the downsize property whilst we were travelling.

Recently went on a cruise on the Queen Mary 2 - met a few individuals who were living on board for 6m - 1 year, travelling around the world. There was even one gent, in his early 50s, living on board for 3 years (slight change in ship when QN goes into refit shortly though!).