Hello,
My current salary is quite low and would require me to have a guarantor to rent, however, I have a lot of savings that would cover the rent for multiple years easily for the type of places I am enquiring about.
Is there any way that it could mean I don’t need a guarantor?
Thank you in advance for your answers.
It will depend on individual landlords. If any are willing to accept they are likely to want substantial amount upfront, probably 12 months, and for there to be clear plan how you would afford it after the initial amount has run out.
I’ve taken someone with a large amount of savings before, although he only lasted 6 months before becoming concerned that he was burning through them quite quickly and he went back to his parents house. I assume your circumstances are different and you would need to explain them to a prospective landlord.
Problem with that is the same as taking on HB tenants. You having the money does not equate in you paying it to the LL. With guarantor LL potentially can take them to court and force them to pay up in case you default on rent. Plus, you may take up a gambling or drugs habit and spend all your savings very fast. How does the LL know that you won’t? Because you say so?
If you think it through from LL’s perspective, it may help you to come with suggestion/s that will show you as trustworthy T. Think how you can do it.
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