Please can someone tell me what the required income calculation is to pass referencing via Openrent?
I can’t remember exactly what is open rent calculation however in general it’s usually between two and three times the salary if that helps any however Sam will probably be replying to your message very soon I imagine
Our referencing partners, Rentguard, usually require the rent to be 35% or less of the tenant’s income to pass the affordability criterion of the referencing check.
It’s important to note that not passing referencing does no necessarily mean that the tenant will not be able to let the property.
More info here:
hi Sam so just to check your calculation is that if somebody is earning say £4,000 a month that the rent has to be less than £1,400 p/m?
what if it’s a family and there is three adults earning that are all on the contract company earnings be spread across the three people or does one soul person have to carry the vetting?
Andrew8, as I see it, all tenants would be referenced, at £20 each, and the total rent affordability will be assessed on their combined income. Anyone please correct me if I’m wrong.
And yes, your calculation seems correct.
Yes I agree it must be combined otherwise surely the majority of the population wouldn’t be able to afford to rent I would imagine as it sounds like a lot of money to need to earn each month I don’t think I earn anything
Hi Sam .
I have three potential tenants all working and who want to move into my property and all three listed on the T.A .
Would all their combined incomes be taken into consideration in regards to passing the referencing checks in order to get rent guarantee insurance ?
£20 each what’s that for it costs nowhere near that to reference someone… robbing bastards
so dont reference them, no one is forcing you to do it . Hang on I remember now, you are not a landlord you are a tenant with a chip on your shoulder…
Correct i am"clever" ?.. Thank you for the compliment . x (from my retriever)
I have no idea what you’re talking about John as I’ve read the thread and I don’t get what it is that you really want To know or are you just on here to use obscene language towards upstanding landlords?