Tenants:

Affordability

Evidence showing income received by the tenant(s) amounts to at least 2.5x the rental amount which can be achieved either fully or as a combination of the following methods:

• Gross employment salary – employment must be on a permanent contract or a fixed term contract that runs up to or beyond the end date of the policy.
• Pension income
• Self-employment income
• State benefits

or evidence of immediate access to consistent savings of at least 6x the monthly rent for the six months prior to the start of the policy.

Credit check

Confirmed credit check from a licensed credit company showing no outstanding or satisfied CCJs, IVAs, CVAs or undischarged bankruptcies in the previous three years.

ID

Right to Rent checks passed

Guarantors

Affordability

Evidence showing income received by the tenant(s) amounts to at least 3x the renatal amount which can be achieved either fully or as a combination of the following methods:

• Gross employment salary – employment must be on a permanent contract or a fixed term contract that runs up to or beyond the end date of the policy.
• Pension income
• Self-employment income
• State benefits

Or evidence of immediate access to consistent savings of at least 6x the monthly rent for the six months prior to the start of the policy.

Credit check

Confirmed credit check from a licensed credit company showing no outstanding or satisfied CCJs, IVAs, CVAs or undischarged bankruptcies in the previous three years.

ID

Two forms of ID (one including a photo)

For long standing tenants who have paid their rent on time for the prior 12 months (within 31 days) where the landlord/agent is not aware of any changes to their income, this would also be deemed acceptable for affordability.

In addition to the above reference checks, the landlord/agent also needs to ensure that all legal documentation is in order and correct, such as:

• A copy of the signed tenancy agreement
• Updated rent schedule
• Tenant/guarantor references
• Proof that the following documents have been issed to the tenant(s):
  • How to Rent guide
  • Gas Safety Certificate (if applicable)
  • Energy Performance Certificate (EPC)
  • Electrical Installation Condition Report (EICR)
  • Deposit Protection Certificate (if deposit taken)
• Copies of correspondence that has been exchanged with the tenant(s).
• Copies of any notices that have been served to the tenant(s).