The rental market is busier than ever at the moment, and with so much competition, landing your dream rental property can be more challenging than you think. If you’ve found the perfect place, submitted your application, and it’s sadly been rejected – chances are you’re wondering ‘why’?
There are a variety of reasons rental applications are unsuccessful, from not passing the screening process to simply applying for the property a little too late. Here are some of the main reasons rental applications are declined, and steps you can take to improve your odds of being accepted next time.
We receive hundreds of rental enquiries every day, and with more applications than available properties, our rental homes get snapped up quickly. As a renter in a highly competitive market, you need to be ready to submit your application asap. The speed you submit your application could be the difference between being first in line to view or missing out.
When searching for rental homes, we recommend having all of the relevant information required for your application to hand, so that you can submit it quickly. Another top tip is signing up for Rightmove alerts, so you’ll be notified of rental properties that meet your criteria as soon as they become available.
To pass the affordability check, your gross combined annual household income must be more than 30 times the monthly rental amount. For example, to rent a property at £1,000 per month, your household income must be at least £30,000 per year. If your gross combined annual income doesn’t meet this requirement for the property you’re applying for, your application is likely to be rejected.
The first step when looking for your ideal property is to calculate your gross combined annual household income, and what you can realistically afford to spend on rent each month. This will help you guide your search and make sure you’re applying for properties within your budget.
If you’re in receipt of benefits, have adverse credit, or don’t meet the affordability for the property, you will need a guarantor to support your application or it will be rejected. Guarantors are usually parents or guardians, but they can be anyone living in the UK who will take on the responsibility for paying your rent or repairing your property if you fail to do so. Your guarantor will need to have a clean credit report, be UK based, and must have proven earnings of at least 36 times the monthly rent annually. If their self-employed, they will need to have been in business for over 12 months.
When it comes to submitting your rental application, you need to fill out as much information as you can. If you leave parts of your application blank or simply fail to complete the form in full, your application may be rejected. Always dot your “I’s” and cross your “t’s” when filling out your application to give yourself the best chance of successfully renting your perfect property.
We hope this article helps and wish you the best of luck with your property search!