Potential tenant for a room of £650 pcm all inc earns £1300 net. Is this ok?

olly300

confused_landlord wrote: »

His reference said he was on post study leave to remain in the uk. I doubt people just starting out as traders earn big bucks.

I have a copy of his work permit. All seems to be in order. But of course, I am concerned about the situation should he hop out of the country without paying his rent as he would not have to worry about his credit rating.

If you are worried about it then don't rent to him.

However as someone else said you could well get someone who is British and has family in the country who earns the same wage and decides to leave and not pay the rent.

confused_landlord

OK. Thanks for everyone's responses. All very helpful, Especially the posters who pointed out that it is not unusual to pay 50% of income on housing.

I had my concerns after I found out his income - but having already taken a holding deposit (first thing I do before starting to sort out references) and due to the fact that I don't normally ask for details of earnings anyway (so I don't know if this is normal), I did not want to be treat this person unfairly.

I think I will proceed with the tenancy. If he was someone out to scam me, he would have preferred to rent a whole apartment and not just a room I think.

PasturesNew

As a tenant, I'd be comfortable earning £1000/month and paying £700 rent if it were all inclusive.... for a whole flat though, not a room.

maryjane01

The income itself I wouldn't worry about as I lived on that amount in London and saved money, but it does depend on how you live. The worrying sign for me is he needed the deposit to be reduced, he does not have the deposit money to hand which makes me think he could be flying very close to the wind and not managing his finances.