Renting without a job but with significant savings

Rockchapel

Hi all,

I have a question. I'm an Irish citizen who has been living abroad for many years now. I'm desperate to move back to Ireland but I know that the housing situation there is very bleak. Does anyone know if landlords in Ireland are in general amenable to the idea of letting a flat or house to someone who doesn't have a job but who does have a significant savings? In such a case, I would of course be willing to provide proof of savings to any potential landlord. Thanks in advance for all responses.

DubCount

Firstly, its illegal for a LL to discriminate against a potential tenant on they basis they are unemployed or in receipt of social welfare etc.. If a LL is going to discriminate against you, they wont admit thats the reason.

Its hard to understand what happens when a LL advertises a property to rent. They should expect 100+ emails in the first 24 hours. Many of those will be "blue chip" with previous LL references, employer references, proof of savings, no pets and a love of reading and gardening. Anything not reaching a very high standard will easily be dismissed for the next in line.

You need to sell yourself as much as possible. Maybe offer higher deposit, and have references to replace employer references. A message that you have returned from abroad and are seeking employment etc. might help. Try to get in touch with letting agents in the area and become known to them - they are likely to be involved in filling vacancies. Good luck.

RINO87

Just say you are in a job...give a friends number if needed as a reference but it's none of the LL's business to be calling up people really.

Ray Palmer

https://www.boards.ie/discussion/comment/123532161#Comment_123532161

I am pretty sure it is just illegal to refuse HAP not unemployed people.

OP, showing you have money in the bank will help but a landlord is going to have a large choice of people and will prefer people in employment in a decent job. It just is what it is and you are at a disadvantage

Ray Palmer

https://www.boards.ie/discussion/comment/123532293#Comment_123532293

They can do reference checks and if the person lies to the landlord they are liable. It is why companies give out limited references

SupaCat95

A Landlord will never officially discriminate you for being on HAP or having no gainful employment. They will cite another reasons: Just the way the market its, supply demand, Application not close enough to the top of the pile. In reality it is because you have no employment you will not get through the filter. I suggest you crash with a friend for a couple of weeks until you got employment sorted. Then reapply. As said above by other posters: They want blue chip employees, with salaries and work histories they can easily check. These are still not garuntees of either buying or even renting success outcomes. For One Person who gets a house/houseshare there are 70 out there just as good that are being rejected.

SupaCat95

https://www.boards.ie/discussion/comment/123533329#Comment_123533329

The best you will ever get is "Person XY is employed here from 202X until present".

Ray Palmer

https://www.boards.ie/discussion/comment/123533484#Comment_123533484

Yes but the person here is saying get somebody to lie and also the OP lie. In other words fraud

steinbock123

If you have a horse choking amount of cash lying around you could offer to pay a years rent upfront.

Deeec

It depends what amount your significant savings is? How long would you be able to pay the rent without a job?

Jim2007

Proof of savings is meaningless as you could spend it or put it out of reach in the mean time.

I took early retirement about 10 years ago and in the same position. So when I do stay in Ireland for periods I just pay up front. Landlords are always happy to see a large block of cash coming in.

Ray Palmer

https://www.boards.ie/discussion/comment/123533751#Comment_123533751

They certainly are not always happy to do such. It is what people do when they rent properties to make into a grow house and I also don't think the PRTB allow it

SupaCat95

https://www.boards.ie/discussion/comment/123533785#Comment_123533785

hmmmm When I always see money with no visible sign of income, my mind immediately reaction is alarm bells. Large cash, no visible evidence of income equals drugs. I am open to correction but it is not wrong to be wary. Yes I do understand there are cash rich people who sudden gain inheritances or are just arrived home for a 5 year stint in Saudi or Dubai who immediately need accommodation on arrival in a big city.

There is just a tick list that makes an immediate good base start line for Landlord. Proven employment + 2 years past written reference from former landlord + Bank statement and stable industry = good tenant.

pc7

https://www.boards.ie/discussion/comment/123532293#Comment_123532293

that's why its always best to ring the company directly and ask to be transferred

Rockchapel

https://www.boards.ie/discussion/comment/123533751#Comment_123533751

The same applies to regular income, no? I mean if someone has a good job, they could be spending a large amount of their income on drugs, alcohol, gambling or whatever. I don't see what difference it makes.

Ray Palmer

https://www.boards.ie/discussion/comment/123535439#Comment_123535439

It doesn't matter whether you see the difference or not it is how thew landlord sees it. You are being told how they see it but you might be lucky that a landlord sees it your way but it does put you at a disadvantage.

Jim2007

Its perception and tradition. If you went purely by the numbers then buying a house would rank up there as one of the most risky things you can do! But everyone believes the opposite