ATA 065 – How do I show a letting agent I can afford the rent for R2R HMO?


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By Stephanie Taylor & Nicky Taylor, Stephanie Taylor, and Nicky Taylor. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

On this weeks Ask The Angels we're talking about how to show letting agents you can afford the rent on HMOs and we have a great question from Scott about it.

Here is Scott's question...
“How do I show an agent I can afford the rent?
Do I need to deposit some money in my business account.
I have £10,000 I could deposit.”

When you rent a property as a rent to rent business and your business, you won’t have financial history to show.
And most people won’t have £10,000 to deposit in their business bank account.
Luckily you won’t need it, the referencing process will be on you personally.
And for that they’ll do a credit check.
And also an affordability check, so see you have enough income to afford the rent.
The income can be salary.
So you don’t need a big lump sum but you do need to show you can afford the rent.

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