Renting after a gap and living with parents

Tenant Discussion
1

I moved back with my parents in the countryside for the last two and a half years after nearly a decade in London. I’m now in a lower paid role c. 30k but now hoping to move to a UK based city in the new year and rebuild my career.

While I have plenty of savings and references from years ago, I believe I can’t pay rent upfront anymore due to the upcoming Rental Rights Act 2025. And while, I’m also currently earning, I hope my new role will be at a higher salary point but I think I would be asked to provide 3 months of recent payslips - is there any other way around proving affordability e.g by just providing a new employment contract rather than basing it on what I’ve been earning recently? My parents are also retired so won’t be able to be guarantors.

This is all hypothetical of course but I feel a bit stuck. I believe I could (hopefully!) find another job and move out of my parents but I feel like finding somewhere to rent will be impossible so I’ll be stuck here forever.

Any advice welcome

2

@Dav

The ban on rent in advance comes in from 1 may so if you agree a tenancy before then it would be ok

There are also companies which will act as a guarantor for you (for a fee)

Cost of rent depends what city and what you want and where but 30% of gross income (common affordability rule) with 30k pa says you can afford 750pcm. There’s studios advertised near me in London starting from 800pcm so I’d think you can find somewhere. If you are willing to houseshare you’ll have more choice.

And yes whilst you might not do as well on the automatic checks if you have a good credit history and other evidence that supports your affordability such as savings and a new employment contract landlords will take into account.

Good luck