Page 4 | £75k salary, landlord wants parents as guarantors

Sadleaver · 2023-06-22T16:24:28+00:00

I'm 35, earn £75k a year in a stable industry, as a permanent member of staff. I've been renting for 12 years and have glowing past landlord references. Excellent credit score. Just agreed a new tenancy on a flat after a stressful 6 week hunt. It's £1250pm. Passed all the reference checks. And the letting agent is now asking for my PARENTS to be guarantors! I have to provide evidence of their income and it has to be above a certain amount. I'm honestly done with this bullshit. This is insane right?

gogomoto · 22/06/2023 18:38

I had to do this for my ex, he has a 6 figure salary and the rent was under £1000 pcm. Crazy

Deathbyfluffy · 22/06/2023 18:39

Workawayxx · 22/06/2023 18:15

This is ridiculous. I wonder if they’re asking single men earning £75k for the same or a married couple earning £75k between them.

A couple, maybe not - but what has being a man got to do with it?
Plenty of my mate friends on this kind of wage and more have been asked too

continentallentil · 22/06/2023 18:39

Yes cracked.

This person is bonkers, do not rent from them.

Imnotahoarderreally · 22/06/2023 18:47

I sympathise OP.
However my 50 year old tenant on a decent income took 10 months to evict after not paying rent and he caused £15k worth of damage.
I wish I'd had a guarantor but like you thought it was ridiculous. Didn't bank on him moving a 30 year old drug addict in.

BeverlyHa · 22/06/2023 18:48

this is beyond any normality. good to those who want to skin others just to make sure they and their children are provided. what do you think hell is there for

Trethew · 22/06/2023 18:50

I don’t think it’s unreasonable in the current climate. What if you lose your job and can’t pay your rent and he has a mortgage on the property. I agree it seems a bit patronising to ask your parents to be guarantors, but would you feel less insulted if he asked you to provide any guarantor who is a homeowner?

Roselilly36 · 22/06/2023 18:52

It doesn’t surprise me at all, I know someone who has rented for many years, through the same agency, rent has never, been late, keep the rental immaculately and parents still have to act as a guarantor.

User195376587 · 22/06/2023 18:53

if adult DS come to us to ask for a guarantor then tough, it's not happening, he'll have to find somewhere that doesn't want one or use an online service like the one linked above. We did when he was a student as he didn't have a proper income but not now.

Butterwouldmelt · 22/06/2023 18:54

Sounds like LL could have had a bad experience. What is a "Stable" industry OP? If you ask posters I think you will find a variety of answers

Maybe they wonder why you are renting on a high salary. Could be a few reasons it does seem crazy though

willWillSmithsmith · 22/06/2023 18:54

That’s crazy. I would never be a guarantor for anyone, not even my much loved children. Buying and renting is hard enough as it is without this nonsense being added to the mix.

willWillSmithsmith · 22/06/2023 18:57

Trethew · 22/06/2023 18:50

I don’t think it’s unreasonable in the current climate. What if you lose your job and can’t pay your rent and he has a mortgage on the property. I agree it seems a bit patronising to ask your parents to be guarantors, but would you feel less insulted if he asked you to provide any guarantor who is a homeowner?

So the parents have to pay? No, that’s nuts! Private landlords are becoming the scum of the earth.

JustRingJoeDuffy · 22/06/2023 18:58

The rental market is insane in some areas. My brother was looking in London last Sept and places were being advertised as 'Offers Over' - you put your offer in a sealed envelope and it went to highest offer. AND the LLs wanted six months in advance. Nuts! And very stressful.

dreamingbohemian · 22/06/2023 18:59

So for everyone saying it's acceptable, do you really not care about the consequences if every landlord decides to do this?

Here I am, having rented for 30 years and never even been a day late with rent. Permanent job with decent salary and excellent credit and references. Are you saying I can never rent a flat in this country because my parents are dead? Me and all the other people in the same situation?

No. That's fucked up. There are other ways to minimise risk.

Trethew · 22/06/2023 19:00

@willWillSmithsmith Sorry I didn’t make it clear. I don’t think it’s unreasonable in the current climate to ask for guarantors, but I can see no good reason why it needs to be the tenants parents

Blossomtoes · 22/06/2023 19:01

Workawayxx · 22/06/2023 18:15

This is ridiculous. I wonder if they’re asking single men earning £75k for the same or a married couple earning £75k between them.

They’re definitely asking single men. My son was asked. Unfortunately for them both parents and our spouses are retired - so ineligible. I lent him six months rent so he could pay upfront.

Flowerblooms · 22/06/2023 19:03

I had this nearly 2 years ago when I looked at a property. I was earning enough then and also had 11 years renting history. I refused point blank to have a guarantor (even though a relative could help) the estate agent said I was the 5th person to refuse because of the guarantor the landlord was requesting.

Gilmorehill · 22/06/2023 19:04

Sadleaver · 22/06/2023 17:28

Yeah the letting agent has said 'in the current climate we're asking new tenants to provide guarantors, preferably your parents.' I also wonder if it's because I'm single?

Maybe. We’ve just agreed on new tenants and the letting agent did suggest it was better to go for couples on a double income. I know it’s unfair but landlords have to think about what will happen if someone loses their job.

Apricotflanday · 22/06/2023 19:07

Trethew · 22/06/2023 18:50

I don’t think it’s unreasonable in the current climate. What if you lose your job and can’t pay your rent and he has a mortgage on the property. I agree it seems a bit patronising to ask your parents to be guarantors, but would you feel less insulted if he asked you to provide any guarantor who is a homeowner?

Presumably in that situation housing benefits are available to pay at least proportion of the rent, or the tenant (OP) has savings, of which she can give evidence.

Apricotflanday · 22/06/2023 19:08

Gilmorehill · 22/06/2023 19:04

Maybe. We’ve just agreed on new tenants and the letting agent did suggest it was better to go for couples on a double income. I know it’s unfair but landlords have to think about what will happen if someone loses their job.

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Housing benefit?

sweetdreamstenasee · 22/06/2023 19:12

That is an absolute joke. Presumably a good portion of 35 year olds parents are retired.

sweetdreamstenasee · 22/06/2023 19:13

also sorry to say op but this is a thread I would actually like the daily fail to pick up on. what has this country become where 75k can’t even get you a rental agreement. jfc.

Tryagainplease · 22/06/2023 19:14

Nope. That’s mad. I earn the same as you, my rent is about the same, I am single and I didn’t have to do this!

Blossomtoes · 22/06/2023 19:14

Gilmorehill · 22/06/2023 19:04

Maybe. We’ve just agreed on new tenants and the letting agent did suggest it was better to go for couples on a double income. I know it’s unfair but landlords have to think about what will happen if someone loses their job.

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You could take out insurance.

Justleaveitblankthen · 22/06/2023 19:18

BatildaB · 22/06/2023 17:38

Can you ask in return for a check that the landlord’s mum can cover any repairs that the landlord can’t stretch to?

Oh this is superb 😁

caringcarer · 22/06/2023 19:24

I'm buying a house from another LL. It has a tenant Insitu. I asked if he paid rent on time and vendor said yes. He's been there 2 1/2 years. My solicitor is talking about transferring his guarantor across to me. I told her not to bother if he was going to not pay his rent I figured he'd have done it before now. It would just slow up sale.