The thresholds on a listing are customisable and determine the pre-qualification thresholds at which residents are offered a viewing. However, thresholds for referencing are set at a minimum of thirty times the monthly rent amount. This figure is a rough guideline for the amount applicants will be referenced against. The applicants' combined annual income should be around the affordability threshold. Let Alliance check the disposable income of residents against the threshold, so this doesn't necessarily mean that applicants who fall short of the threshold won't be accepted. If the shortfall is small, Let Alliance may well deem them acceptable tenants.
If you would like to change the affordability threshold for your portfolio, please get in touch.
If you need further assistance, email us at partners@residently.com or reach out via chat.