my partner and I are trying to rent a property through OpenRent.
I work full-time, and am the main breadwinner, and I’ve passed the vetting, apparently up to almost twice the rent for the place we’re looking at. However my partner hasn’t (Seeming on affordability, as she works part-time), and we’ve been asked to find a guarantor for her.
According the the landlord, the guarantor is required to enable OpenRent’s landlord insurance, and it’s not possible to just have me on the tenancy agreement as we’ll both be living there.
This seems to make it impossible for a couple without both people in full-time employment to rent through OpenRent, even if jointly they can easily afford the rent. Is that correct?
Rent Guarantee Insurance is offered by our referencing partner on all passed comprehensive references. If a tenant fails referencing then as you say, the landlord is only eligible for Rent Guarantee Insurance (RGI) if a guarantor is added to the application.
Rest assured however, there are no restrictions in only one of a group of tenants being in full-time employment.
RGI is an entirely optional landlord service, so where you’re not in a position to be able to provide a guarantor, it’s worth indicating as such to the landlord. They may be happy with the outcome of your sole report that details the rent covered.
You can obtain more information from our insurance partner directly on 0113 320 7368.
It’s the landlord who has requested a guarantor here - this is entirely optional and is not necessary in order to continue with Rent Now. We always provide landlords the option to proceed direct to contract signing before referencing even finishes, and this option remains after it’s completed.
We suggest reaching out to the landlord directly to discuss proceeding without a guarantor. Landlords will often not chose to purchase insurance and proceed with the outcome of referencing as is, so it’s worth raising this. Ultimately though the guarantor request remains their decision.
You can of course speak to our insurance partners on the number above if you had questions about the policy.
Please send us a message here - where your query hasn’t been responded to with a call it’s worth checking your inbox as the team will respond to queries the same working day.
Change the tenancy so that you are the Sole tennant. Your wife and immediate family will have the same tenancy rights as you, Therefore, she won’t have to pass the income test and rent guarantee insurance will be offered because all tenants (you) have passed the income test.
Any person over the age of 18 who will be living in the property should be named on the tenancy agreement. If other people will be living in the property and are not named on the tenancy agreement this is likely to put the tenants in breach of the tenancy agreement, which states:
8.34. Not to assign sublet or part with or share possession of the Premises or any part of it nor allow the Premises to be occupied by more than the maximum number of permitted persons.
8.35. Not to take in any lodger, paying guest or person staying on either a permanent or semi-permanent basis.
As a landlord, allowing tenants to live in the property without being named on the tenancy agreement could invalidate any rent guarantee product you purchase and mean that you are unable to claim against that policy or regain possession of the property should you need to.