To think paying a years deposit upfront

[Cookiejar717]

Might help me today with a house I'm going to view to rent. I've been unsuccessful in getting any viewings on 3 bedroom houses. I am able to offer 6 to 12 months rent upfront as I can't get a guarantor either. Do you think this might get me a chance? I work 24 hours a week and I'm a single mum.

Yes it might help.

wow!! I am a landlord and i think any landlord would be mad not to let you have their rental when you pay all the rent a year in advance!! be careful though with a rogue landlord who might not detail this correctly in any lease. I really dont think you should be offering a years rent. 6 months advance would suffice.

OK so should I offer 6 months rent in advance? You think that's a good offer? Thank you. I just want to give myself the best chance.

Yes it would probably help but it's not certain.

A landlord taking on a tenant is accepting 3 risks
(1) the risk you won't pay rent
(2) the risk you might trash the place costing far more than any deposit
(3) the risk that you might refuse to leave and cause an expensive eviction battle.

Paying 6 months rent up front mitigates risk (1) only if the expectation is that you will be leaving after 6 months. If you are planning to be there long term then it's not that much of a help, because your income could evaporate during that first 6 months triggering (1) and (3) in month 7.

Yes it would definitely help. It happens relatively often in my area, as a way of getting ahead of the crowd.

A years deposit is outrageous

Good luck... I tried similar last year (almost exact same circumstances - 3 bed, single parent, 6 months up front, no guarantor, decent job)..

Made no difference 😞 so now me and my two DC are in a 2 bed which I actually feel lucky we got!

I don't want to put you down but a regular (high) income is more attractive as once you're in, it's now much harder to get you out so definite rent seemed more attractive round these parts. I'm in a big southern city with massive demand though so the landlords could afford to be choosy. I guess it depends where you are..

I do mean it when I say Good Luck though - it is brutal out there for renters at the moment!

Definitely not.

I've been a Landlord for 20+ years, and being offered any rent up front is a big, big red flag.

Things that will help:
Great references
Affordability via long term employment
Having no debt/CCJs
Having strong links to the area (family, kids in local school)
Needing a rental long-term
No pets

Outline the above and you'll be top choice. :)

It's not a deposit it's rent in advance

I think it depends on length of lease if it’s a year pay a year, six months pay six months. I’d probably try for a longer lease as you have kids. It’s no guarantee in the long term. I paid six months upfront, landlord was super keen for a long term tenant apparently. Then they wanted to sell so I was s21 and left after 13 months. I was single so fine but awful when you have kids.

We really need to build dependable social housing.

So if I offered 6 months in advance that's a red flag?

I've had a mortgage until now it's a separation...

It can't hurt to try

Make sure you word it correctly as paying your rent in advance though, not a higher deposit

It's now illegal for a landlord to take more than the equivalent of 5 weeks' rent as a damage deposit - which doesn't cover much!

It's another reason the number of private landlords is declining, making it harder for people needing to rent

Good luck 🤞🏼

A friend of mine is a landlord with 12 houses and I've heard her say that someone has bidded to rent a house but someone else has as well and the second person has a higher wage and she's worried the 1st person can't afford it but then she will ask if they can pay 6 months rent up front to make them more attractive. And people have definitely offered 12 months rent and she likes it. So I would say yes.

Yes, a year's deposit is a good offer. Just make sure it's a proper landlord or agency who will go through all the right channels, and that the deposit is documented proper and so forth.

My son has to do this. He's a young man, with no partner, and has such trouble getting rents because everyone assumes he'll have wild parties and trash the place, just because he's a lad on his own. Nothing could be further from the truth (he doesn't even drink for a start!)

At his current place he offered a year's rent, which the agency accepted took, plus they made him take out (quite expensive) insurance as a guarantee that he wouldn't trash the place as well, despite providing excellent references, all his bank statements, a reference from his workplace and so on. It really is a form of prejudice against renters. But if that's what it takes to get a decent place, you have to show willing....

I work part time around the kids. I earn £980 a month and then get a uc credit top up. I also have just been bought out a house so have £12 000 in savings.

I’ve just been accepted for a rental after offering 6 months rent upfront so it can help. I’m single with no children or pets though so not quite the same situation as you OP. My income only just met the affordability test so I also provided evidence of savings. Hard to know what made the difference.

Good luck OP, it is brutal out there.

I don't think so. You can tell the agent/landlord you realise you don't have a previous landlord references and you can offer 6 months upfront in lieu of that.

Things which are a red flag according to my friend;

Thinking you can't afford the rent
Thinking you might leave after a year
No previous landlord references.

She is nervous about people who have just split up as she thinks they will be looking to get back on the property ladder and use the rental for a year while they're house searching.

Ah ok interesting there's a mixture of replies. Am I able to say between 6 and 13 months rent. I am actually going for an interview today for more work too so my life is changing in different ways. I just want a chance as me and the kids are living with my ex at the moment and it's not ideal.

Yes, for me and all the LLs I know. I've been a member of a few LL associations for years and they'd all recommend to avoid tenants that offer X amount upfront, there are risks like those outlined by PP above.

But you might find an inexperienced, greedy LL seeing the cash you're offering and they'll just go 'gimme'. Avoid them!

In my view a decent LL will always see it as a red flag and not want you.

Yes there's alot of worries for landlords and I do understand them. I know I won't trash it or not pay for it i want long term for me and the kids to feel at home too..but it's not an easy one to prove.

But you also as a landlord wouldn't touch me without offering money in advance because I will be seen as a single mum part time that can't afford it.

So this property is £800 a month rent.

I'll have a total of £2000 income going into my bank. So each month I'll have £450 left possibly more. But I'll still look rubbish on paper due to the amount of income I get.

Does that make sense.

@Burgerexplosion

That gives Me hope. It really is brutal. I just need to be given a chance but I think I'm onto a long road of trying. One property the landlord was turning down applications for so many reasons. Even turned away a family with toddlers because of the attic stairs.

I totally sympathise. I was in the same boat a few years ago when I was desperately trying to find a rental place post divorce, even though I was working and had a load of equity from the sale of our house. In the end my brother had to act as my guarantor! Still annoyed about that years later, that a landlord would only take a single, working, adult woman with kids with a bloody guarantor. Hope you find a place soon.

I know people who’ve done this and it’s worked but I’m told it can raise a red flag as it’s what people who want to use property as drugs base will do.

estate agents should help you manage that message though!