Saary versus Rental Income

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    Saary versus Rental Income

    Hi

    What is the required minimum salary for a rent of £1650 pcm? Obviously its not just down to income.


    #2
    What is Saary?

    Why is it not just down to income?
    Every LL with have their own Guidelines.

    Comment


      #3
      I would want 60K plus

      Comment


        #4
        The rule of thumb used to be three times rent, but I'd guess it's realistically twice the rent in London and the South East.
        When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
        Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

        Comment


          #5
          Usually as others have already commented it is 3 times the T's salary as a guide, I would recommend you get a company to reference and credit check the T on your behalf as it will serve the purpose of being independent, and give you are fair indication of the risk profile for the T.

          I've had T's telling me they earn 4k a month or their salary is 50k, but then when undertaking reference and credit checks it is then realised that they don't have sufficient earnings.

          Comment


            #6
            I actually do my own referencing, I ask for payslips and bank statements - you can tell a lot from this info. I also do employment reference which confirms length of service and salary etc.

            Comment


              #7
              Do a credit check as well, this will high light any CCJ/Bankruptcies currently or the past 6/7 years.

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