In referencing process for new rental property - No guarantor after redundancy

CooperDach21

Hi,

I was made redundant in Jan 2024 but have since found work and started my new full time permanent role at the end of May 2024. We are now in the process of relocating to a new area and are currently in the referencing stage for a new rental property, they have asked for proof of current address, copy of passport, and 6 months pay slips. These requests will be no bother for my partner but I only have 1 payslip (my most recent) since Jan. 

When we filled out the application form we did not fill out the section regarding a guarantor but feel like due to my lack of pay slips they may ask for one. My question is, Although getting a guarantor will not be a problem for us, will not having one make us fail referencing and result in us losing the property or will they just ask my to provide a guarantor if we need one and carry on with the referencing process after we provide one.

The only reason didn't provide one in the first place was maybe naivety, that we didn't believed we needed one as we comfortably paid our rent on our current property for the 5 months I was out of work and had only 1 income coming in. 

propertyrental

Who cvan say? We cannot read the minds of the landlord or agent. It's entirely their decision what they require. There's no standard process.

saajan_12

Entirely depends on how "computer says no" their process is.. IMO it would be mad to completely bar you after the first set of proofs / submissions unless they had applicants coming out of their ears. I tend to work with a prospective tenant as its always an evolving process.. 
provide income proof > something needs clarification or isn't as robust as I'd like > provide more proof > still not great, explore other avenues eg guarantor while continuing to get the proof, so whichever's easer.. 

Grumpy_chap

CooperDach21 said:

Hi,

I was made redundant in Jan 2024 but have since found work and started my new full time permanent role at the end of May 2024. We are now in the process of relocating to a new area and are currently in the referencing stage for a new rental property, they have asked for proof of current address, copy of passport, and 6 months pay slips. These requests will be no bother for my partner but I only have 1 payslip (my most recent) since Jan. 

When we filled out the application form we did not fill out the section regarding a guarantor but feel like due to my lack of pay slips they may ask for one. My question is, Although getting a guarantor will not be a problem for us, will not having one make us fail referencing and result in us losing the property or will they just ask my to provide a guarantor if we need one and carry on with the referencing process after we provide one.

The only reason didn't provide one in the first place was maybe naivety, that we didn't believed we needed one as we comfortably paid our rent on our current property for the 5 months I was out of work and had only 1 income coming in. 

It sounds like this was a standard form which included the section about a Guarantor which you left blank.  Unless you were specifically requested to provide a Guarantor, I think that is entirely appropriate (to leave that part blank).

From the LL perspective, a Tenant who is financially sound and able to meet the rent themselves is preferably to a Tenant who does not appear able to pay and, hence, the Guarantor is requested.