Financial References

To protect himself from financial risk, a landlord can ask you to name a guarantor, or to offer a financial reference. Sometimes proof of income, such as a payslip, is acceptable as a reference; other landlords will request bank statements or a letter from your financial manager. Employment offers security for the Landlord that you will be able to pay the rental and service costs. Proof of income improves your chances of approval if you are a potential tenant.

You can also offer a personal reference to your landlord, from someone who knows you and vouches for your character. This person commits themselves to being your guarantor; they will pay any costs that you incur when renting, in the event that you are unable to pay them yourself. If you are a student, the landlord will almost always ask you to provide a guarantor because you have a low income. The guarantor acts as a type of security for the landlord. If your monthly income is equal to, or more than, three times the rent, you do not need a guarantor.