From: Nigel W
Here's one for all you battle scared veteran self-managing landlords.
How closely do you screen tenant's ability to afford the proposed rental? By way of example, if their net weekly income was only $400 would you be comfortable signing them up for a lease where the weekly rent is $150 ie a whopping 37.5% of their net income?
Is there a rule of thumb like the servicability ratios the banks apply to see if you can afford a home loan?
(Naturally they're not even getting a look at the keys until the bond and 2 weeks' rent in advance has been received!)
Thanks in advance.
N.
Here's one for all you battle scared veteran self-managing landlords.
How closely do you screen tenant's ability to afford the proposed rental? By way of example, if their net weekly income was only $400 would you be comfortable signing them up for a lease where the weekly rent is $150 ie a whopping 37.5% of their net income?
Is there a rule of thumb like the servicability ratios the banks apply to see if you can afford a home loan?
(Naturally they're not even getting a look at the keys until the bond and 2 weeks' rent in advance has been received!)
Thanks in advance.
N.
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