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Important Renting Questions !

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Good Morning !

I am fairly new to the renting game... and I am about to take the plunge... Would you be so kind to answer some very important questions for me.... however before I do... I will give you some back ground information about myself... I have never been out of work and have a salary well over 25K..., I have no major debts only a credit card bill which is managable.

The last company I was with recently went into administration and hence I am on the rock 'n' roll dole.... I work in the IT sector so finding a job "even in these awful economic times" hopefully would not be a huge problem in the coming months... The great worries I have and problems is that I am very apprehensive in going to a letting agency or renting because of so many negative experiences I have read from various forums including this one which includes... letting agencies, estate agents, land lords etc etc... I have been told that I am entitied to a benefit called LHA... over 500+ renting accomodation... My question to you is the following:-

1) What are my chances of the letting agency / landlord allowing me to rent with my outlined situation?

2) I do not have any CCJ on my credit report however I have a default... which was over 5 years ago.... and I only have one credit card as debt.... what would your professional opinion be for the chance of me renting?

As I said before... I have never claimed benefit before until the economic crisis hit the IT sector within the past couple of months to which I was a casualty of war... My credit is in order with a default back in 2004... over 5 years ago... All the other loans, HP purchases and credit cards...have been paid off in full and this shows on my credit file... it is just the two defaults to which I have disputed.

Any help or tips would be much appreciated... what to expect, any problems I might face, when is the best time to appy for the LHA so I can get this through on time even though I haven't secured the property..... :unsure:

Thank you kindly

LHARent

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Good Morning !

I am fairly new to the renting game... and I am about to take the plunge... Would you be so kind to answer some very important questions for me.... however before I do... I will give you some back ground information about myself... I have never been out of work and have a salary well over 25K..., I have no major debts only a credit card bill which is managable.

The last company I was with recently went into administration and hence I am on the rock 'n' roll dole.... I work in the IT sector so finding a job "even in these awful economic times" hopefully would not be a huge problem in the coming months...

Depends upon what you do in IT - haven't had a sniff in 8 months!

(Sorry I know that's not what you want to hear)

tim

Edited by tim123

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it depends where you are and howe desperate the LL's are.up here in the east mids,they are getting a lot less choosy(I ahev that from a mate who runs an LA business.)beign on the dole isn't a barrier but you may well need a guarantor.

Thank you for your reply... I am in the East midlands too... However the places that interest me are in popular areas and quite plush.... So I don't know if this would make my chances of being accepted any less.... :(

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Depends upon what you do in IT - haven't had a sniff in 8 months!

(Sorry I know that's not what you want to hear)

tim

I have worked on 3rd line server side support... dealing with all kinds of IT releated problems.... and the past 6 or 7 years have been strictly networking... firewalls, cisco, vpn's.... web servers etc etc.... So I have a broad skillset... So hopefully... my chances are more greater in finding a job than someone who's skill set is focused on one sector in IT...

And... I can prove this with two references with letterheads from my previous two employers...... So would this increase the chances of me being accepted??

I just want to hear anything postive regarding renting... because the majority of threads I have viewed have a negative perspective from; landlords, letting agents and tenants....

thank you

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if you've a guarantor with a good credit record,you're ok.

Who can qualify as a gurantor? Can a member of my family be a gurantor?

What if I don't manage to find a gurantor?

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I can't speak for the CCJ/default but generally without a job they just want you to pay 6 months up front. You can usually negotiate it down to 3 though. If you don't actually have the sort of savings for 6 months up front then you might want to think twice before signing some binding expensive rental contract in case you can't find a job that easily (I know plenty of IT people who can't.) You don't want to end up with another default on your record.

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I can't speak for the CCJ/default but generally without a job they just want you to pay 6 months up front. You can usually negotiate it down to 3 though. If you don't actually have the sort of savings for 6 months up front then you might want to think twice before signing some binding expensive rental contract in case you can't find a job that easily (I know plenty of IT people who can't.) You don't want to end up with another default on your record.

Thank you very much for your reply... I don't have any CCJ... only defaults... which was over 5 years ago and would be six early next year... which means those defaults would not be on my credit file.... As for the job thing.... I have two strong references from previous employers... I even have a written reference with the letterhead and all the bells and whistles... 6 months up front is out of the question.... however two months is something I might be able to do... three months plus the deposit would be pushing it too far at nearly 1500....

You are absolutely right about me not wanting to have any more defaults.... this is why I am very careful and researching like crazy... also posting threads like these to ask the advice of experienced renter's like yourself....

I would really appreciate it if any actual landlords or letting agents would voice their professional opinions about this! I really need the advice and help :

:unsure:

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Thank you very much for your reply... I don't have any CCJ... only defaults... which was over 5 years ago and would be six early next year... which means those defaults would not be on my credit file.... As for the job thing.... I have two strong references from previous employers... I even have a written reference with the letterhead and all the bells and whistles... 6 months up front is out of the question.... however two months is something I might be able to do... three months plus the deposit would be pushing it too far at nearly 1500....

You are absolutely right about me not wanting to have any more defaults.... this is why I am very careful and researching like crazy... also posting threads like these to ask the advice of experienced renter's like yourself....

I would really appreciate it if any actual landlords or letting agents would voice their professional opinions about this! I really need the advice and help :

:unsure:

I'm possibly not the best LL to be asking, as I'm into student lets; but my policy was not to bother with deposits since the new system came in, but to be absolutely intransigent about a parental (or near offer) guarantee. Parents move around a lot less, and most young people fall into one of two categories

1. Tapping the bank of Mum & Dad is second nature, & Mum and Dad are resigned to it

0r

2. They are a bit older - mid-20s and absolutely HATE the idea of the LL going to their parents so move heaven & earth to pay up.

Either way the LL collects (usually! I have had a parent skipping it back to Poland)

You may do better going direct to landlords, rather than letting agencies, whose brains tend to run on rails.

Edited by cartimandua51

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I'm possibly not the best LL to be asking, as I'm into student lets; but my policy was not to bother with deposits since the new system came in, but to be absolutely intransigent about a parental (or near offer) guarantee. Parents move around a lot less, and most young people fall into one of two categories

1. Tapping the bank of Mum & Dad is second nature, & Mum and Dad are resigned to it

0r

2. They are a bit older - mid-20s and absolutely HATE the idea of the LL going to their parents so move heaven & earth to pay up.

Either way the LL collects (usually! I have had a parent skipping it back to Poland)

You may do better going direct to landlords, rather than letting agencies, whose brains tend to run on rails.

Thank you for your input... I have possibly viewed every single site and news paper regarding private landlords... and most of the properties are houses or not the type of accomodation I can live in.... The majority are letting agents. Today I just found out that it will cost me £120.00 admin fee's and then 70 for anyone else thats moving in with me.... so basically £200... plus first month and deposit "800".... were talking about £1500 before I even get my foot in the door... and that property is definately someone I can live and sort myself out in the short term...

Can you tell me about the new system??? Are we talking about the LHA?.... You mentioned that you are a LL to students... however the letting agents / Landlords I am dealing with are dealing in properties that are not exactly for students.... they are mainly exclusivle for professionals..... So I wish someone who is a letting agent or Landlord would add their input on this.... Much Appreciated....

Regards

LHARenter

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Who can qualify as a gurantor? Can a member of my family be a gurantor?

What if I don't manage to find a gurantor?

Anyone who's prepared to do it.

But with the risk that they are taking, IMHO anyone other than a close relation would be a fool to be one.

If you can't find one, then the LL has to decide whether he is prepared to take the risk.

tim

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East Midlands... Northamptonshire would be ideal.. ;)

Better chances up there then, and the amounts are lower which leaves you more latitude than in say, the South East. There are a few agents that deal with DSS tenants, but the lowest fee I recall seeing is about a week's rent. You'll also need a deposit and the first month's rent upfront. Some of this can be provided by your local council, ask their housing department for details. Keep scouring for private lets as well, of course.

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Can you tell me about the new system??? Are we talking about the LHA?.... You mentioned that you are a LL to students... however the letting agents / Landlords I am dealing with are dealing in properties that are not exactly for students.... they are mainly exclusivle for professionals..... So I wish someone who is a letting agent or Landlord would add their input on this.... Much Appreciated....

Regards

LHARenter

No, I was talking about the tenants deposit scheme. Students don't get housing benefit unless they have children, which isn't my niche.

Don't forget old technology - small ads in the local paper and postcards in newsagents windows. Not everyone wants to advertise online!

Edited by cartimandua51

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No, I was talking about the tenants deposit scheme. Students don't get housing benefit unless they have children, which isn't my niche.

Basically if you have a child and low\zero income you get a lot more laid on through the welfare system but that isn't a topic for this thread ;)

Edited by HPC001

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Better chances up there then, and the amounts are lower which leaves you more latitude than in say, the South East. There are a few agents that deal with DSS tenants, but the lowest fee I recall seeing is about a week's rent. You'll also need a deposit and the first month's rent upfront. Some of this can be provided by your local council, ask their housing department for details. Keep scouring for private lets as well, of course.

Thank you for your input.... I agree... places in the east midlands seem to be more accepting than futher south... I have pretty much viewed well over a hundred properties online... and can easily pick a place to choose from... however the letting agents fee is a factor and also who are the ones to be trusted.... I don't want to lose out on and I am trying to cover myself from every angle... especially dealing with large sums of cash and the horror stories I have heard from landlords, letting agents and tenants.... My major obstacle is getting a letting agent or landlord to agree with accepting housing benefit and lowering their rent if possible..... I just have to keep looking around... asking until one agrees I suppose... but any help from bulls on this site would be great.......

I am suprised that no letting agent and only one landlord have replied to this thread.... because you are the ones that have much more knowledge than the rest..... Please help :unsure:

Edited by lharenter

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Thank you for your input.... I agree... places in the east midlands seem to be more accepting than futher south... I have pretty much viewed well over a hundred properties online... and can easily pick a place to choose from... however the letting agents fee is a factor and also who are the ones to be trusted.... I don't want to lose out on and I am trying to cover myself from every angle... especially dealing with large sums of cash and the horror stories I have heard from landlords, letting agents and tenants.... My major obstacle is getting a letting agent or landlord to agree with accepting housing benefit and lowering their rent if possible..... I just have to keep looking around... asking until one agrees I suppose... but any help from bulls on this site would be great.......

I am suprised that no letting agent and only one landlord have replied to this thread.... because you are the ones that have much more knowledge than the rest..... Please help :unsure:

Ask on a landlord\letting agent forum then ;)

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I am suprised that no letting agent and only one landlord have replied to this thread.... because you are the ones that have much more knowledge than the rest..... Please help :unsure:

Try landlordzone:

http://www.landlordzone.co.uk/forums/

Are you in Nottingham BTW? My daughter was at Uni there up to a year or so back, and my impression was that there was a massive oversupply of rented property ( considered investing there 6 years ago but one look at the number of "To Let" signs sent me scurrying South again!).

Edited by cartimandua51

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