3 ms·
Yes... I'm in the UK, in London. For renting, even as a founder who has a profitable business that was active for a year, they're still either asking for upfron
by firtoz 2y ago
Yes... I'm in the UK, in London. For renting, even as a founder who has a profitable business that was active for a year, they're still either asking for upfront payments (12 months...) or a guarantor. This was the case for multiple locations (SE13 + E16).
They said if my business was running for 2 years or more then they'd accept that as low enough risk.
A bit understandable in this economical situation, but man, it's hard. Even for the guarantor, they need to own a house and have at least 40x the monthly rent as proven (PAYE or business with 2+ years) yearly income.
I knew only one person who could be a guarantor that fits the requirements.
Alternative was AirBnb or other monthly accommodation which was of course more expensive.
- BlueTemplar 2y agoThe worst cases is when they don't even accept the 12 months of upfront payment !
- firtoz 2y agoWow, I never imagined that to be possible. What was their reasoning?
- BlueTemplar 2y agoIt was bullshit. The real reasoning was of course, as usual : lots of 'buyers', few 'sellers'.