Is it your first time renting a property? We all start somewhere, and most property managers should be aware of that. When you are getting started, it is about finding a good deal and proving to the landlord that you’re worthy of it.

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!