Renting affordability - wages plus interest from savings?

Sapindus

Mr.Generous said:

As stated landlords can pick and choose. As a landlord I want tenants who I think will stay 2 years+, because every tenant switch costs including tenant finding fee of approx a months rent, hassle changing utilities and council tax to my name, and the rent lost during a void.

Although you sound completely honest and want to be that way just be careful what you say to any agent/landlord about the time you expect to rent for. I'm being completely honest, It'd be a no from me. last property saw 10 prospective tenants and 8 wanted it - from 50 something applicants. The one before that the agent pulled it from RightMove with 100+ applicants.

Rather than just telling you what you want to hear - because like others have said you get a report on the financials and it will say can/cannot afford the rent - but if just below the threshold it will be an amber not red warning so landlord can pick - the financial checks are only run IF the landlord or agent picks you. Getting sellected might be the issue if you admit to a short stay for many landlords.

Yes - looking at it that way, the six months is more for the landlord to be able to throw out the tenant than for the tenant's convenience in moving on.  I take your point, but then again I can say in all honesty that I am moving to the area and renting while I find the right place to buy - which could in reality take a coupe of years! 

youth_leader

I sold at auction in March 2020 and was lucky enough to get a rental starting in February 2020.  It was only up the road from my house, which was very lucky, as I had to move my possessions myself as lockdown progressed.  I remember the snow - the tenants hadn't left any oil, be prepared for that. 

I sold at the March auction, completed end of May 2020 after eight weeks at the developer's request, and spent six months house hunting.  I found a property in October 2020 but the vendor messed me about, I couldn't exchange/complete until March 2021.  My rent was very cheap at £650, but I would have preferred to have saved it!  She changed her mind about the completion date and my landlord allowed me five weeks notice - which was very lucky.  It was only a tiny two bed terrace but it took me a full three days to pack, move all my stuff out, shampoo the carpets and deep clean the place - and even then for feedback post inventory I had a big photo of 'ANIMAL DEBRIS' found on top of the open radiator (I'd never had open radiators before!) - and a cobweb   Luckily I got my deposit back in full but if I rented again, I'd pay someone to clean.  Nearly killed me, I was so very tired.   I remember my son turning up by surprise as I was on my knees cleaning the kitchen floor, 14 March 2021 - it was Mother's Day!