I am currently renting in the private sector, which I have been doing since 2009. I need to relocate this summer but I do not have a guarantor. I have looked into using a guarantor service, however many of them are for students or working professionals who are not in receipt of benefits.
I work part time and receive Universal Credit. I wanted to know if any landlords have taken out rent guarantee insurance in lieu of a guarantor?
I would be willing to pay the insurance in full (which would be a year) and do the same again if the tenancy was to be renewed the following year.
Any advice, experiences and information would be greatly appreciated.
that’s an interesting question… I’ve never had a tenant who had no reliable guarantor suggest that. You are using iniative and suggesting a way around a problem and using your own resources to do so … I do like tenants who think proactively! The negative might be that this would not satisfy LLss who insist on a guarantor simply as a technicality because they can’t see that you have a track record of renting forever and can therefore obviously sustain the expense of a tenancy. If you run into a LL like that who doesn’t take your offer seriously, then I wouldn’t waste your time with them. In fact, I’d probably recommend that you make asking whether a guarantor is required one of your first questions so as to minimse timewasting LLs.