First time renters (finished uni)

Can I please ask landlords help me understand how 2 students leaving uni can start renting.
They have £10k savings. A parent that is happy to be a guarantor as they are mortgage free. The rent (as on the south coast) is £1000 a month for a 1 bed and income temporarily will be about £2000.
No landlord is accepting them and whilst i understand income to rent ratio is 50% there are savings and a guarantor.
One of the tenants will be a primary school teacher (minimum salary £30k) but she wants to start this after October half term not immediately. In the meantime she is continuing to work as many hours as she can at Tesco where she has worked partime for last 3 years whilst at uni.
What can they do to increase their chances.
If any landlord on here in the Chichester area then please help but any thoughts would be great

I would think most landlords would want to see a job offer for the job that makes it affordable. If this is 5 months away then upfront rent to cover this period.

Savings can be spent and most ll see a guarantor as back up for tenants that meet affordability criteria themselves rather than relying on guarantor to pay rent.

So potentially they could offer to pay 6 months in advance, use the savings and instead of paying rent (as it would have been paid) they could pay back into their savings instead.
Thank you that is actually something i had not thought of.

start in August with all other primary teachers and that’ll def help her chances of both of them being able to afford somewhere earlier rather than later.

Thank you. I agree i think that needs to happen but sometimes you can guide your children but they do not always listen :thinking:

personally, I’d just let them sort their own lives out while I kicked back with a well-earned G&T. Send them a link to this forum and suggest they post on here if they want help.

Paying in advance is not acceptable now aparantly. New laws coming in to prevent this.
I would have thought landlords asking would be affected but renters volunteering to pay would be allowed. Time to read the legislation!

The issue with that is if they dont find somewhere in next 5 weeks it will be my doorstep they come to :joy:

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ah but if they’re paying rent then you can make the G&T a double :laughing:

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It’s currently no problem at all until the RRB is passed into law and there’s no date on that yet.

But you should be aware that because of this imminent legislation, LLs are being much, much more picky about who they let to as all existing tenancies will have the legislation applied to them from the date it becomes law.

Again, a solid offer of work e.g. a signed contract from that primary school or even a letter of intent to employ would help their chances. I def wouldn’t be sharing the story that a tenant is deferring their ability to secure solid employment. If I heard that, I’d be thinking that applicant had their priorities askew and turn to the next of tens of other people desperate to rent my place.

Time to send your kids a link to the Shelter website and find that dusty bottle of gin! :wink:

Thank you for your feedback. Much appreciated. Discussions to be held this weekend