Saary versus Rental Income

  • Filter
  • Time
  • Show
Clear All
new posts

    Saary versus Rental Income


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

    What is Saary?

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


      I would want 60K plus


        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).


          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.


            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.


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


              Latest Activity


              • Calculating/Limiting My Risk

                My former home is up for rent. Current tenants are leaving in a couple of weeks. I have a set of prospective tenants who really want the house. On my pre-screening questionnaire, I asked the question 'do you have a good credit history'. The answer came back as No, followed by an...
                11-12-2018, 01:03 AM
              • Reply to Calculating/Limiting My Risk
                Because no one knows which two months will be rent free until notice is served.

                The landlord is holding money that will discharge a liability of the tenant at some indeterminate point in the future.
                Which is a deposit.

                Until the rent that will be paid is due, the money...
                11-12-2018, 16:46 PM
              • damage, garden maintenance and cleaning dispute
                Hi All

                The tenants that left the property last week after 2.5 years and an initial 12 month let.

                The garden has a tall hedge, it is not a boundary hedge as there is a fence on the boundary and all the hedge trees are on our land but the foliage reaches over the fence.
                10-12-2018, 01:08 AM
              • Reply to damage, garden maintenance and cleaning dispute
                My guess is that this was previously the landlord's home (or possibly a family member's) and LL broke the rule "don't leave anything in the property that you are not willing to lose"
                11-12-2018, 16:07 PM
              • Reply to Calculating/Limiting My Risk
                But if rent is to be paid 3 months in advance, then it is known for which month(s) any payment is made. They can then not pay the last w=two months after giving notice because they have already paid it....
                11-12-2018, 16:03 PM
              • Reply to Calculating/Limiting My Risk
                This is not my only rent paying property.

                I think it's best to look into the insurance scheme - it just suits me that they only want to rent for 1 to 2 years....
                11-12-2018, 15:55 PM
              • BTL accepting lease agreement
                Hi All.

                Dipping in for some advice please.

                I have a property with current BTL of 75%. No adverse credit etc..
                Struggling to find a lender who will accept my current tenant going forward as it's leased to a care home operator.
                One lender had agreed to the tenant,...
                11-12-2018, 15:06 PM
              • Reply to BTL accepting lease agreement
                Thanks for the reply.
                I've gone through quite a few brookers and nothing is being placed on the table.

                So basically I've been looking in the wrong pool of lenders?
                I did approach a commercial lender but they were talking of fees of 5k + product fees....on a 120k loan I found...
                11-12-2018, 15:28 PM
              • section 21 and how to rent guide
                Hi do you have to serve an up to date how to rent guide when a tenancy moves to a periodic tenancy from a standard 6 months tenancy or is the original how to rent guide sufficient in order to serve a valid section 21 notice...
                09-12-2018, 10:11 AM
              • Reply to section 21 and how to rent guide
                It doesn't really have to be before the replacement tenancy starts, it just has to be before any section 21, but yes about new guide.

                It's a new tenancy, so the requirements to provide a guide applies again, and because there's a new version, you don't get the exemption to not provide it...
                11-12-2018, 15:24 PM