Savings in the bank but no income? | The Tenants' Voice
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Savings in the bank but no income?

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18 views 1 replies latest reply: 17 July 2017
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Tenant

my husband has taken a year off work for health reasons, we have sold the house and will have substantial moneys in the bank from the sale.  We have seen a property to rent but have been told by Ward and Partners estate agence (very aggressively I might add) that unless we have had £54000 in the bank for at least 3 months we will have to pay the full 12 months plus deposit upfront.  I feel this is a little unfair, six months I am more than happy to do so but what if there are issues with the landlord about maintenance to the property while we are there? I know there is no difference paying all the rent in one go and paying in dribs and drabs but feel it takes away all our negotiating tools should something arise.  Any sound advice would be welcome. 

Me 

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Tenant

Your suspicion is right. Paying all rent in advance removes the small bargain power you have. 

You need to make sure the landlord and letting agent are absolute angels (and will stay that way) before you forward them the annual payment. 

Other than that, it’s normal for them to require rent in advance since your husband is not working. But because you do (i assume) you can haggle to pay six months in advance and not a month more.

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