Renting long term - Employed by own Limited Company

silvercar

Something will have to change as there are plenty of retired renters living off savings.

You will have to find an agent prepared to work with you on this.

HillStreetBlues

https://forums.moneysavingexpert.com/discussion/comment/82107030#Comment_82107030

The Renter Right Act has made it harder for people like you that have savings but little to no current income to find a landlord willing to take you on.

Herzlos

https://forums.moneysavingexpert.com/discussion/comment/82106941#Comment_82106941

Sounds like fraud.

If they ask about employment history and you've only just started work they may view that a concern since you'd almost certainly still be in a probationary period. If they asked if you knew about any upcoming change in circumstances then you'd either need to tell them you plan to quit as soon as you've moved, or lie.

You'd be as well getting 3 months PAYE from your own company, which would at least be honest.

saajan_12

Your employment status legally per HMRC / accountant is irrelevant to what a landlord or letting agent CHOOSES as their affordability criteria, they don't have to follow a particular formula. So yes they absolutely could change the criteria if say you were a new employee or it was a clear self-owned company. The credit profile is very different to an arms length company employer, where you're likelly do demand payment even if the company doesn't get paid, less likely to find a fireable offence after years without issue, whereas an employee not working out in a few months may be let go more easily, a larger company may be able to withstand one non paying client better than a small co, etc.

Basically you can't guarantee getting a rental ahead of time until you actually apply. Made worse because the RRA prohibits rent upfront to allay fears that your savings were just temporarily borrowed or something. All you can do is start applying early and pay rent during an overlapping period, or hope for the best and temporarily stay in an AirBnB, etc.