Renting without a large enough income

[KatyMac]

DD's second attempt at buying looks like its going to fall through- she put an offer in the first week of January!

So if she rents she can pay the whole year up front, but doesn't have enough 'income' to pass the checks

Neither DH nor I have enough income to guarantee the rent

Is it likely she will get somewhere to rent?

I think it just depends. I'm an accidental landlord and my current tenants didn't meet the income criteria as he's a locum, but I was happy to accept as I was confident he'd get work. I think we took an extra few months upfront too. Will just depend on the agent/landlord.

Landlords/agents are often very wary of rent upfront. It’s a bit of a red flag for money laundering and usually a tactic used by people wanting stash flats/grow rooms.
i suspect the best bet would be calling the agents and being honest about her situation, however often passing the income checks are a factor in the landlords insurance. Could she flatshare for a bit?

Well it's her and her bf (who only has a year of se accounts)

They really wanted to buy but also need to get out of my house 2+ years is too long

They have wasted since last July on 2 failed house purchases and we are all getting desperate

We can show the money is from an inheritance

And they both work from home so a flat share wouldn't be much better than living here

I did it last year and it secured the flat I wouldn't have been able to 'afford' otherwise. Ineffably depressing though that I 'failed' affordability checks and had to use this ruse for the privilege of renting a draughty, damp flat.

What are they trying to buy ? Could they manage it if they bought a studio .. just to get them of the blocks ?

They are trying to buy (& can afford) a 2 bed flat but both times the lease has been a problem

And neither of us can cope with another 6 months while we wait to find out if the next one is ok

The lease rules are changing as the ground rent free is soon to be abolished. It's a medieval rule .. you might just find it's a blessing they can not buy right now .

Yes but they needed to move put a year ago

First place wants 12 m rent and a guarantor!!

Bloody hell they might be with me for years

Any joy with this ?

A family friend has rented to them with just normal terms

They have gone (I didn't do much of a happy dance.....😎😘)

I rented a flat to someone who couldn’t afford the rent on her salary on the basis she had significant savings (from a divorce settlement I think). I’d like to think most landlords would be pragmatic but I believe there’s a lot of
competition in the rental market at the moment.