Trying to rent whilst furloughed

[EastLondon82]

Hi everyone

We own our own flat in London, but are having to rent it out to get a bigger property! We've found the perfect place. I go on maternity leave in five months and have a great deal where I get six months fully paid, I will then be returning to work!

My partner is currently furloughed, and his company are hoping to get him back to work in July/August! Even with his furlough payments we can can afford the rent 4 x over! I'm just a bit concerned the fact he is on furlough will be held against him when the reference agency do their checks!

Has anyone been able to rent a property whilst furloughed? Or has anyone rented to someone who has been furloughed? Any advice would be greatly appreciated, as worried our dream property will fall through at the last hurdle.

nothing is guaranteed at the moment, not even that maternity deal, not his furlough payments.

You are in the unusual position of making this work - I always say that it could only be possible if you are renting out a place in London for £££, so even after insurances and contingency you still have enough left to rent somewhere else. But as landlords with full understanding of the risks, what would you do if YOUR prospective tenant was in this position?

May I ask why my maternity deal is not guaranteed? If that logic is used then anyone who applies to rent a property is at risk of redundancy/not being paid! Not just those on furlough!

Your company may go bust. They may change the rules.

yes, anyone who applies to rent a property is at exactly that risk. That's why landlords have rent guarantee insurance, and will prefer tenants who pass the criteria for it - these will vary.

er...you are a landlord. Don't you have this?

No direct experience if renting while on furlough. Have helped friends with issues with credit ratings/lack of credit history. 2 ways often you get round any problems: 1 - a guarantor or 2 - paying 3-6 months rent up front. Could you do either of those if asked?

We are going to rent out our London flat too. The real estate didn't mention people on furlough, but said they are being much more stringent about potential renters job roles and industries. I have 2 coming tomorrow, so will ask about furloughed tenants and update what they say. Congrats on the pregnancy BTW!

@GreenCoxing @Elouera thanks so much for the really helpful replies! Yes, we can get a guarantor and also pay rent upfront too! We just didn't think to mention the furlough as my other half's company said they should be getting back to work July/August (he works in construction industry)! I just wondered if we should have declared it!

Also, thanks for the congrats! And that would be really helpful to hear what they say, as I said the landlord knows about the pregnancy but not about the furlough, as we both still have incomes we didn't think to mention it xxx