Looking to take on a student tenant for the first time for my 1 bed house.
Guarantor

Perfect Putt
Perfect Putt
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2 Posts
1 week ago
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Hi, my new prospective tenant will be a student studying for a phd, she failed her credit check yesterday, my annual rent is £12,000, her situation is:

1. Her annual income from the university is £15,285. However, this is net. If it was gross it would equate to £23,000

2. Her actual net income of £15,285 pa is supplemented by £2,400 pa from her father, making her total net income £17,685. This would equate to a total gross income of £26,500 pa.

3. This leaves her £5685 pa or £473.75 pcm for bills.

4. In terms of bills, she is exempt from Council Tax and her food and insurance is paid for by me.

5. The issue with the credit check is that it only takes income into account and in this case, I think it has also failed to realise that her income will be tax free.

6. Lottie has saved for this PhD and has over £35,000 in her savings account to fund accommodation for the entire duration of the course.

7. She is happy to pay the entire years rental upfront to secure this house.

8. Finally, I can provide a guarantor in the form of my brother. His salary is £32,000 pa for a 4 day week.

I hope that this information helps and that you will be able to agree to the tenancy. Your property is really lovely and safe and she has set her heart on it.

I've never let to a student before and would really like to rent to this lady but just a bit unsure as to what's the best way to proceed. Is it ok to take a year's worth of rent upfront? I not sure that her brother's income would suffice as a guarantor? She has said her phd is 3-4 years and would possibly like to rent my house for the entire period of study. Also I'm unsure what the situation it with my landlord insurance, would it cover me to let to non-professional tenants? Many thanks in advance.

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