Split Referencing

ollyver27

Hi again,

Since my last post (I was asking whether I could sell my furniture to a landlord!) I have since been speaking with someone on spareroom who I may move in with, and share a property.

My question - we would both be looking to spend £400 - £450pm each, excl. bills, but, this means a £800 - £900pm property. We both probably don't earn enough to take the whole rent on ourselves (they have income of £18,000 but no car expenses, and I have income of £20,000 + bonuses, my recent P60 was £29,500, but don't expect to earn that this year, maybe £24,000-£25,000, and have car expense (and thus parking expenses!)). Do letting agents/reference checks consider the split nature of it, or do they expect that both tenant needs to be able to afford the whole rent? If its the latter, how do people do this split tenancy thing?!

Help would be appreciated

Thanks guys

princeofpounds

Normally the rent:income would be assessed on a household basis but there is no hard rule.

ollyver27

thanks princeofpounds, anyone else know about this?

Fire_Fox

If they know you are a flat share and are happy to accept that they will generally check you can afford half each BUT you will be liable for the full amount if the other person defaults on a joint AST. You may be permitted to actually pay half each or they may insist on a single payment.

ollyver27

ok thanks for all your help

grifferz

ollyver27 wrote: »

Do letting agents/reference checks consider the split nature of it, or do they expect that both tenant needs to be able to afford the whole rent?

For our current rental where myself and partner split the rent on a 5/2 ratio, the letting agent assessed our affordability individually. That didn't make a lot of sense to me and wasn't something we asked for.