Q:Hi

My husband and I have finally decided to sell our house and rent. Hubby is 62
and due to ill-health is not going to work again. I myself am on long term sick and we are now trying to exist on benefits. This has been going on for over 2 years now and we have decided that we have to release the equity on our house in order to pay off debts and have some sort of life.

Equity release and all the other options are not available to us as I am under 55 so this seems the only choice we have. Downsizing is also not an option as even a small terrace in our area would not leave us enough money to pay the debts…hence the decision to rent. We figure why not spend the money we have invested in property while we can and our sons are both fully supportive of us.

We have seen some new-build apartments in our area which we really like and hopefully the management company who bought 7 in the first phase will buy some in the 2nd which are due to be ready in September. We have decided to sell now though as we have somewhere to go in the meantime if the house sells before then. We would have a lump sum to invest which would cover the rent on the apartment.

Having always had our own home I am pretty green when it comes to renting and would really appreciate some advice.

I have a few questions:

I know that landlords run credit checks. Now ours are pretty poor due to the debts we have. Do you think a landlord would accept either 6 or 12 months rent to offset this?

Do you think we would be able to stay in this property for the foreseeable future. I have been told that landlords are in favour of long-term lets and we may even get a reduction on the rent. Is this true? I don't want to live in fear of being thrown out!

What questions should I be asking about all aspects of renting. As I said, I know nothing about it at all…so please don't think I will be insulted if you suggest something obvious…treat me like a dumb blonde:

I would really appreciate any advice at all…this is a huge step for us and pretty scary I have to say…but it has to be done.

Cheers
Kathy

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A:Well to let you know my position, I (or rather we) sold up and are now happy renters. Like anything else you really need to do your homework first, so read all the renting pages on the shelter and citizen's advice websites and have a good look around landlord zone.

Most tenancies these days are assured shorthold tenancies. These typically start with a fixed term of six or sometimes 12 months. After that the contract can be renewed or if not the tenancy becomes periodic. This means the landlord can give you two months notice and you can give one month. There are a few more details to it but that's the gist.

My top tip is to make sure you deal with reputable people. No matter how nice the property is walk away if the agent/landlord are not OK. The forum is chock full of renting woes, getting the deposit back, breaches of contract, unfair contracts, being given notice. But then people usually come here for advice when things go wrong so it isn't that bad!

Make sure you ask the agent/landlord what ALL their charges are, including at renewal and checkout. These vary widely from 100 to 300 pounds for administration at the start round here.

Read the contract throughly IN ADVANCE before handing over any money.

The landlord wanting to sell is the big issue IMO and it could easily happen to any renter especially if house prices fall. The thing to do is ask the landlord/agent what the landlord's plans are. It's not a guarantee though. Ask for a longer contract but they may not allow that till they know you are reliable. Wanting to stay long term should work in your favour when negotiating rent.

Credit history, you can but ask the agent/landlord. I have erratic income so have always paid six months rent in advance for the first six months only in lieu of employment references. Ultimately it's the landlords choice. If you can chat to the landlord/agent in person (rather than by phone) then they'll get some idea of what you are like. My agent will take proof of savings into account too. I would not offer more than six months in advance in case anything happened, like the landlord got repossessed.

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A:Have you tried looking into sheltered housing.

http://www.shelteredhousing.org/
http://www.housingcare.org/

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A:Hi

Thanks for your replies.

We are not entitled to anymore benefits unfortunately and simply cannot afford the outgoings on the house at the moment and live, so we can't see any other option.

I think now we have come to terms with not having our own home…still scary but it seems the sensible thing to do. I just hate the uncertainty of renting but it doesn't seem we have a choice. We need some quality of life.

I am a bit worried about the credit check though, thats why I thought it might work if we offered a reasonable amount of rent to cover at least part of the lease. We can also show, with the investments we will make that the rent will never be an issue (I won't let it, that money will not be touched) Do you think this may swing things.

I cannot see the landlord wanting to sell anytime soon as it is a new property so he is perhaps looking at it as a long-term investment. Am I wrong?

I have SO many questions….my head is ready to explode!

Cheers
Kathy

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A:Speaking from my own experience…..
1. Yes, some (but possible not all) landlords will accept a cheque for 6/12 months. In fact, when I moved back to the UK, I had to pay 6 months upfront, as I hadn't got enough of a credit score apparently.

2. Staying for the foreseeable – who knows? I guess it really depends on your landlord. Most landlords that I know of would love to have a stable tenant, so they don't need to worry about re-advertising, credit checking etc etc after a few months. As regards to a rent deduction – well, doesn't hurt to ask. Again, if you're planning on staying put for a long time, it would be worth it to the landlord in terms of avoiding having gaps between tenants etc.

3. Other questions? Depends what you want to know really – don't be afraid of asking the letting agent / landlord, and make sure that if you're unsure of anything, you get it clarified BEFORE you sign any contracts, will save a heap of worries later.

Lastly, try not to look at this as a scary thing (although I completely appreciate it's going to be a big step for you). If the worst comes to the worst and you feel desperately unhappy in your new home, the good news is that you can move at the end of your tenancy if you feel it necessary, and find somewhere that you feel more comfy in. It's a bit of a hassle admittedly, but definitely not the end of the world.

Best of luck with the househunting!!
Kathy

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A:Hi. Sorry to hear of your situation. Have you sought advice from the CAB or free debt charities? they might be able to advise you? Have you applied for all the correct benefits you are entitled to?
The only thing I know about renting is make sure you do an inventory just in case you and the landlord have any disputes. Make sure your deposit will be covered in the new tennant deposit scheme that's just started.
Good Luck

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A:Hi

Thanks for the reply…I will look at that now. Anyone on here have any advice please

Cheers
Kathy

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A:Post your question here,you will get good advice.

http://www.landlordzone.co.uk/forums/forumdisplay.php?f=3

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