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Will I be allowed to rent a flat?

Can I afford paying a rent around £400pcm for a flat if my average salary (gross pm) before taxes is £1700? Would I be allowed to rent such realty? I have heard that in order to rent such a flat and to be regulated with a contract I am required to have £24000 per year? Is this the way things are?

Asked on Sep 26 2014, Renting in Manchester | Report content

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  • It will all depend on the referencing company that the agent uses, but as an example we usually say that an applicant will need to earn 2.5x the rental amount, or if they earn between 1.5 and 2.5% they will need a guarantor. Remember that you will also need the money upfront for the deposit and fees. Hope that helps. Martin & Co (UK) Ltd

    Answered on Sep 30 2014, Report content
  • Hi, As long as the property you are looking to rent fits within your budget, we're sure you will not have a problem renting. It may be best to take a look at your finances and see what income you have coming in per month minus any taxes and see what you have as outgoings to see what your budget for rent is. We do have handy bits of info within our "What Can I Afford?" section on our website at Here you will be able to get a good understanding of what to take into account when renting in terms fo your finances. We hope this helps.

    Web reference:

    Answered on Oct 27 2014, Report content

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