Affordability criteria for tenants

Hi all!

I am a 25 years old professional who just started working full-time under a year ago. I am looking to live alone so am trying to move out of my current shared house and I’ve been looking at a few studios and one-bed flats that I really like.

I’ve heard that agents have affordability criteria for tenants and those with income not meeting the requirements will be less likely to rent. However, since I just started not long ago and also because Im looking at one-bed flats, my income may not meet the requirements of the most of the flats I’m looking at. However, I have saving money and fortunately have the financial support from my parents which can be proven in bank statement so just want to ask will I be able to rent those that exceed my income level in this situation.

Thanks

Volunteer a guarantor which will help your case. They will need to meet a certain income and ideally home owner.

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Thanks Mark for replying. Do you know what does the guarantor have to do? Is it a complicated process and is he/she bounded by a contract or any agreement?

Thank you

Bound by a contract same as tenant is bound. Credit check on affordability also

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@Minh They will need to be credit checked. They are contracted to pay the rent and liabilities of tenant should they fail to do meet them. They will need to sign a separate contract (deed). It’s straight forward enough.

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