How are your financials? Show you're prepared to rent a property

Are you having trouble getting a copy of your rental ledger? Don’t despair. Here’s how to show you’re financially prepped to rent your next home.

Here are a few simple ways to demonstrate your finances are in order.

Attach a recent bank statement

If you can’t get hold of your rental ledger from a previous landlord or property manager, a bank statement can help. If you have a good track record of paying rent on time, you can use your bank statement to show that payments have been made regularly through your account. Extra points if there’s plenty of cash in your savings account.

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Show off your good financials

A prospective landlord or property manager wants to know you can pay the rent. A simple way to show this is by attaching payslips to your rental application. If you have a reasonable, secure income that would cover the rent, you’ll improve your chances of securing the property.

If your employer doesn’t provide you with payslips, consider asking for a letter stating your wage and showing your good financial standing.

Ask for a rental reference or letter

If you can’t get hold of your rental ledger, think about asking your landlord or property manager to supply you with a rental reference (verbal or written). A reference is a declaration from your property manager that explains your rental history and how reliably you could pay the rent.

What is a rental ledger?

A rental ledger is a complete record of every rent payment you have made, as well as the dates you made those payments.

It will also show if your rent has ever fallen behind. A rental ledger is used to keep track of your history of payments and is a valuable form of documentation if a tenancy matter ever needs to go before a court.

At the end of your tenancy, your ledger is one of the most valuable things you can have. When you apply for a new property, present your rental ledger to your prospective property manager/landlord to show your rent has always been paid on time.

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