Proof of Income
You can convince a property manager or landlord of your financial capability by providing evidence that you can afford the rent.
This usually works if the rent is less than 30% of your monthly income. Any higher and you risk setting off alarms of application rejection.
If possible, try to provide income proof extending a couple of months back. If you are moving in with a partner, consolidating the pay slips and submitting them along with tenancy application can strengthen the case.
Prove Your Financial Responsibility
Producing evidence of contracts that show consistent payments for a long-term asset help in most cases.
This could be anything from a mobile plan to a new automobile. The more expensive the commitment, the better.
A bank statement highlighting those payments can be submitted as an additional proof.
Offer to Pay Via Direct Debit
This is something agencies might ask from renters with no history – but it’s often not a requirement.
Direct debit payments are taken out automatically. Offering that is a sign that you’re financially healthy enough to afford the rent.
We’d like to emphasize being proactive with the offer. It will make a good impression on your property managers, which might get you a great deal!
Find a Reference
Previous landlord, tenant from a shared unit, a friend, family member or a colleague from workplace are all examples of references that may help with the tenancy application.
Alternatively, opt for a more legal route. You can get a guarantor, who will take on the commitment if something goes wrong.
Your guarantors will normally be family members, such as husband/wife or parents.
It’s Not as Hard as You Think
Proving your financial responsibility isn’t difficult. The same applies to finding a guarantor.
With those in place, you should be able to find a property quickly, and affordably!