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Tips for Tenants

Tips for Tenants

If you are looking to be a tenant for the first time it might be worth bearing in mind some criteria that must be met. In no particular order you will need a regular source of income, an acceptable credit score, a landlord reference if applicable and the Right to Rent.

Below is the Rent Affordability Calculator and these incomes are based on the total combined income of the prospective tenants so if you and your housemate wanted to rent a property for £700 per month together you would need to earn £21,000 per annum. If you wanted to rent a property on your own and the rent was £600 you would need to earn £18,000 per annum

Monthly Rent (£) Monthly Income (£) Annual Income (£)
500 1,250 15,000
550 1,375 16,500
600 1,500 18,000
650 1,625 19,500
700 1,750 21,000
750 1,875 22,500
800 2,000 24,000
850 2,125 25,500
900 2,250 27,000
950 2,375 28,500
1,000 2,500 30,000
1,100 2,750 33,000
1,200 3,000 36,000
1,300 3,250 39,000
1,400 3,500 42,000
1,500 3,750 45,000
1,600 4,000 48,000
1,700 4,250 51,000
1,800 4,500 54,000
1,900 4,750 57,000
2,000 5,000 60,000
2,250 5,625 67,500
2,500 6,250 75,000
2,750 6,875 82,500
3,000 7,500 90,000

Applicants and Guarantors minimum gross (pre-tax) income requirement 2.5x the monthly rent.

In certain circumstances if your income is short you can have a Guarantor but be aware they are legally liable for ALL the tenancy obligations – for example paying the rent and also paying for any damage that may have been caused during your tenancy.

Tips for how to get your Tenancy Deposit back

There is a lot of discussion and bad press around ‘rogue’ landlords keeping deposits at the end of the tenancy. In actual fact all deposits MUST be protected by law in one of the approved schemes and providing you return the property in the same state as when you moved in, save general wear and tear there should be no reason for any of it to be held. The main problems that we get here are:

  • Ovens are not cleaned
  • Windows are not cleaned
  • Fridges/Freezers are not defrosted
  • Toilets are not cleaned
  • Light bulbs are not replaced
  • Grass is not cut

The home should be handed back to us ready to let to new tenants, of course any wear and tear is put right by the Landlord.