Question about renting when retired / self employed

7 replies

JuneCrawshaw · 14/01/2018 12:25

I see there is another thread on this but....

I am semi retired (teachers pension) but also work freelance so have some income but it's low. I may be renting to be near elderly family to help out ( one of them very ill) . DH and I have joint and separate accounts. DH still works.

I really don't want to have to show bank statements to prove we have the money and could pay the rent (DH has a 6 figure salary and we have 6 figure savings, including mine in my own name) to nosy EA. I DO appreciate it's to protect the landlord so don't think I'm being arsey!

I know we could pay 6 months upfront. But on another thread here people say this is not a good idea.

Is there any way to minimise people viewing our personal savings and income without paying 6 months upfront?

OP posts:

Iwantaunicorn · 14/01/2018 12:28

Most estate agents don’t want to see bank statements, they just do a credit check as part of the referencing process.

Original poster

JuneCrawshaw · 14/01/2018 12:30

My other question is, if we only had to show DH's salary slips but it was me who was taking on the rental rather than him in his name, how does that work? Because if it was a joint tenancy we'd then be stung for two lots of financial investigations - yes? Or no? Can I haea tenancy in my name based on a joint bank account where DH is the main investor in the account? My earnings and pension are in another account.

OP posts:

Original poster

JuneCrawshaw · 14/01/2018 12:31

Most estate agents don’t want to see bank statements, they just do a credit check as part of the referencing process.

Really? My kids have had to show 3 months' of salary slips to agents recently. PLUS a credit check PLUS references.
How can I get references when I am self employed?

we have no debts, no outstanding credit and a house with a mortgage all paid off.

OP posts:

BubblesBuddy · 14/01/2018 16:51

I fail to see why you cannot just declare what you’ve got between the two of you and be joint tenants. Why the secrecy? We have way more than you and it doesn’t worry me if I have to declare my income (DH
is a high earner, I’m not) and our investment portfolio. They just want to know you are good for the rental. Pay up front and ask for a discount. You are over complicating this.

Original poster

JuneCrawshaw · 14/01/2018 17:01

Because Bubbles there is contradictory information around here on another thread. One poster is advised never to pay upfront because then the landlord may not carry out repairs etc as no incentive - rent in bank.

It's not a case of 'secrecy' it's a case of not wanting some Tom, Dick or Harry in an EA knowing all our personal info. You may be happy with that but I'm not. They are EA not banks.

And the joint tenancy- DH would not be living there, it would only be me.

OP posts:

specialsubject · 14/01/2018 18:08

As the law means you can move into a rental and live there without paying for six months, landlords have to do checks. Affordability is no more than 40% of income.

BTW the idea that you can stop rent to get repairs done is mn cluelessness.

sixteenapples · 14/01/2018 18:22

Could you rent in yuour name and DH be a guarantor?

Understand you don't want people to know your business but the landlord does not have to rent to you. If you were renting your home to strangers how would you protect yourself?

If it really is short term an idea might be room in a shared house/ lodger arrangement paid weekly. Could be ideal if you want weekends back in your own home.

Serviced apartments are another option as they are governed by different laws - worth a look. (Expensive but not if you don't have much stuff and want a short term-ish arrangement as all bills included)

Flip