Rental budgeting advice for tenants (2024)

  • Rental budgeting advice for tenants (1)

It's important that you decide on a budget before you start viewing properties to rent. This is because you need to make sure you're only taking on a rent that you can comfortably afford.

When you apply for a tenancy, we will verify that your gross annual income (before tax) is sufficient to cover the monthly rent. We normally require tenants to have a gross income of at least two and a half times (2.5x) the rent (in certain circ*mstances this may be slightly higher). If you are asked to provide a guarantor, they will need to prove a gross annual income of at least three times (3x) the rent.

If you will be renting with another adult, you can combine your incomes to work out what you can afford.

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Rental budgeting advice for tenants (2024)
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