House deposit

johnogog88

just looking for a bit of advice here.myself and my girlfriend are moving out.its first time for both of us.after all long search we found a place with reasonable rent.unfortunatley the deposit is 1200.i lost my job last month and am on back to education allowence,my girlfriend has a full time job.neither of us has this amount.im jus wondering is there anywhere that can help aa regards loans?also is this rate of deposit normal or will there be places that take less?many thanks

pooch90

Deposit normally matches monthly rent amount. You said the rent is reasonable so not 1200?
I would go back and question why it is more than the rent amount as standard practice is first months rent plus same again for deposit.

Or do you mean the rent is 600 and with deposit added,its 1200 total?

johnogog88

Or do you mean the rent is 600 and with deposit added,its 1200 total?[/quote]

Sorry yes i meant its 1200 total.will all places demand this rate or will some be lower? Thanks

johnogog88

Or do you mean the rent is 600 and with deposit added,its 1200 total?[/quote]

Sorry yes i meant its 1200 total.will all places demand this rate or will some be lower? Thanks

pooch90

We have been renting almost a decade and everywhere was the same, 1 month deposit and one month rent.

Tbh,if you don't have a contingency amount in your pocket like that then you should maybe look again at moving out just yet.
Even moving is expensive and you will always find things you need to buy for the house and that racks up very quickly.
Even down to your first shop where you get in all the basics costs a good bit.

johnogog88

the apartment where viewing is not going to be ready for two weeks,the landlord has asked for references and deposit for this wedensday.is this normal practice sorry for all the questions.

pooch90

Normal enough, especially if using an agent.

If it were me I would be looking for a lease to go through before I hand over cash, just in case there is something you see that you don't agree with.
Will you have the cash in two weeks?
You could offer to pay deposit on Wednesday and the rent on the day they give you keys?

handlemaster

This has 'this is going to end in tears ' all over it. OP you would be better all round to wait until you can afford to rent before taking on a lease. Its a pitty for the landlord who has obviously place d his property or intends to in you with in all likelyhood hassle just around the corner. It sounds really like you cant afford it. All the best

johnogog88

it feels very like where being pressured into handing over money straight away.the apartment isnt on the market yet and wont be for two weeks.i dont feel right showing references and handing over momey so soon without even seen a lease.the owner told us he cant write up a lease till the moneys handed over.

johnogog88

Its a pitty for the landlord who has obviously place d his property or intends to in you with in all likelyhood hassle just around the corner. It sounds really like you cant afford it.
we can more than afford the monthly payments.the only problem is the deposit in such short notice.every first time tenant has these kinds of questions that dosent automatically mean a landlord will have problems with me.your comment assumes to much without knowing myself.

Mrs OBumble

johnogog88 wrote: »

we can more than afford the monthly payments.the only problem is the deposit in such short notice.every first time tenant has these kinds of questions that dosent automatically mean a landlord will have problems with me.your comment assumes to much without knowing myself.

What would happen if your partner got sick and couldn't work? How could you afford it then?

Seriously, before you move out, you need to have the deposit plus enough money to live on for 12 weeks in the bank. That's how long it can take for illness or unemployment benefit to start getting paid out.

I kind of agree with you re being asked for cash before seeing a copy of the lease. They should happen at the same time, IMHO.