As standard, a tenant must earn at least 2.5 times the annual rent in order to pass the affordability section of the report; this ratio increases to 3 times the rent for guarantors.
Example:
£1000 rent per month would require an annual earning of £30,000 for a tenant or £36,000 for a guarantor. This is calculated as follows:
- £1000 x 12 month x 2.5 = £30,000
- £1000 x 12 month x 3 = £36,000
See our affordability calculator here
Please note that a number of other factors can affect whether the report passes overall.
Find our help guide on what you can do if a tenant fails here