Landlords may have unrealistic expectations

Landlords may have unrealistic expectations

Landlords may have unrealistic expectations of how much their tenants are earning, according to a tenant referencing agency.

Landlord Secure explained the average annual salary is £27,600, but almost one in five landlords expect any potential tenant to be earning at least £30,000 per year.

In addition, one in ten landlords said they would not progress an application from anyone with a salary of less than £50,000.

However, this could mean tenants are being dismissed from renting properties, even though they may be good tenants.

“Landlords obviously want to feel secure that any new tenant is able to meet their rent commitments over the course of a lease agreement but it is unrealistic to only accept tenants on higher wages,” said Steve Burrows, managing director at Landlord Secure.

“Choosing the right tenant should be based on their current financial stability, which is not always linked to earnings and those earning less but with a history of meeting payments should be given equal consideration,” he explained.ADNFCR-1222-ID-801840347-ADNFCR

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