Credit checks / first time renting

[rubbishwithmoney]

Hi

Im 21 and me and my girlfriend (of 3 years) are finally looking to move out of her parents house at some point this year. (we think we can save up enough cash for a deposit and rent up front by about July time).

However, I've read that letting agencies run credit checks on you before they let you move in. Now ive got defaults all over my record in the past and am always refused credit wherever I go - will this mean i wont be able to rent a house anywhere>??

[demon_x_slash]

Credit checks are pretty standard these days, and the agent/landlord will tend to look askance at someone with a bad credit record. However, many agents/landlords will accept people with poor credit ratings if they can find a guarantor; basically someone other than the intended tenant, who agrees to be liable for all rent payments if the intended tenant for some reason cannot afford to pay. When we went to rent, as I am a student, I had to have a guarantor (my OH was all right as he works full time), so my Ma had to sign a form accepting responsibility if I couldn't pay. I found it slightly insulting, as I have a clean record and could demonstrate my ability to pay, but had to lump it Whichever agent/ll you think you'll go with, ask them first about their guarantor policy.

[rubbishwithmoney]

thanks for the info. I think if worst came to worst, my girlfriends dad would probably act as a guarantor for us (hopefully).

Does this last for one year? or would we need a guarantor the whole time we are renting??

[Tristesse]

Depends really most agencies will now almost always Credit check and charge you £30 a person for the privaledge. I'm riddled with defaults also but was lucky to rent privately direct from a landlord who didn't agree with running credit checks (quite nice of her).

In most cases they are mainly interested in bankruptcy and defaults shouldn't be too big a problem (but normally they will want to see previous rent account history). Explain the situation to them before the credit check and they may just ask you to find someone to act as a
guarantor. If not how is your partners credit? If good couldn't she rent the house and you just move in with her? Not sure how they deem this however.

[rubbishwithmoney]

Originally Posted by Tristesse

Depends really most agencies will now almost always Credit check and charge you £30 a person for the privaledge. I'm riddled with defaults also but was lucky to rent privately direct from a landlord who didn't agree with running credit checks (quite nice of her).

In most cases they are mainly interested in bankruptcy and defaults shouldn't be too big a problem (but normally they will want to see previous rent account history). Explain the situation to them before the credit check and they may just ask you to find someone to act as a
guarantor. If not how is your partners credit? If good couldn't she rent the house and you just move in with her? Not sure how they deem this however.

nah i wouldnt like to take that option of renting it purely in her name.

she is only 19 and has a clean credit record as far as im aware

i think guarantor is looking like the best option. but see my post above - how long dill i have to find a guarantor. 1 year, or forever?

[demon_x_slash]

Most agents wouldn't allow two adults to live under a single tenancy, and would insist on a joint tenancy anyway.

As far as I'm aware, the guarantor is the guarantor for as long as the tenancy agreement is in effect - after all, if they were only guarantor for one year, what's to stop 'you' stopping rent after that year, comfortable in the fact that the agents couldn't chase 'your' guarantor for the money and would have to go through court to get 'you' evicted? They'd have no security against 'you' defaulting and that doesn't make sense from their point of view

If you're talking about getting a one-year tenancy, and then rolling it over if you stay longer, the new agreement that you will sign after that year will probably include a continuation of the guarantor's responsibilities; however, I'm not sure on that point as that brings up contract law, you'd have to ask Nightmare4Banks about that sort of thing.

[rubbishwithmoney]

Originally Posted by demon_x_slash

Most agents wouldn't allow two adults to live under a single tenancy, and would insist on a joint tenancy anyway.

As far as I'm aware, the guarantor is the guarantor for as long as the tenancy agreement is in effect - after all, if they were only guarantor for one year, what's to stop 'you' stopping rent after that year, comfortable in the fact that the agents couldn't chase 'your' guarantor for the money and would have to go through court to get 'you' evicted? They'd have no security against 'you' defaulting and that doesn't make sense from their point of view

If you're talking about getting a one-year tenancy, and then rolling it over if you stay longer, the new agreement that you will sign after that year will probably include a continuation of the guarantor's responsibilities; however, I'm not sure on that point as that brings up contract law, you'd have to ask Nightmare4Banks about that sort of thing.

ok thanks. what is the standard contract length for a tenancy?

[demon_x_slash]

Most people use a six-month or a one-year tenancy; we originally had a one-year tenancy, but re-signed to stay longer once that year was up. Try First Time Tenant by Patricia Barber, you can get it on Amazon for a few pounds and it's a good simple step-by-step guide to renting.

When you do find a place and sign on the dotted line, make sure that you have an entry inspection and inventory conducted in your presence by the agent/LL - this is really important as it notes any damage/problems already existing in the property. There are a lot of unscrupulous LLs out there who will try to retain all or part of your deposit at the end of your tenancy, and an agreed list of problems present before you moved in makes your position firmer. Don't be afraid to make them note down the tiniest mark on the wall or chip out of the worktop.

[rubbishwithmoney]

Originally Posted by demon_x_slash

Most people use a six-month or a one-year tenancy; we originally had a one-year tenancy, but re-signed to stay longer once that year was up. Try First Time Tenant by Patricia Barber, you can get it on Amazon for a few pounds and it's a good simple step-by-step guide to renting.

When you do find a place and sign on the dotted line, make sure that you have an entry inspection and inventory conducted in your presence by the agent/LL - this is really important as it notes any damage/problems already existing in the property. There are a lot of unscrupulous LLs out there who will try to retain all or part of your deposit at the end of your tenancy, and an agreed list of problems present before you moved in makes your position firmer. Don't be afraid to make them note down the tiniest mark on the wall or chip out of the worktop.

cheers demon, you're not the first person to tell me that. one person even told me to take photos of everything to prove what state its in when we move in!