QualifyingYou may demonstrate your ability to save a 5% deposit (what would otherwise be ‘Genuine Savings’) by way of a Rental Reference Letter or Rental Commitment Letter. The letter will assist towards your character, your capacity, your repayment history, your creditworthiness as a good tenant with continuous long-term rental repayments over the last 12 months. What Does A Rental Commitment Letter Need To Show? A Rental Commitment letter from your Property Manager or Real Estate Agent will be required to provide the following:
- Full name of tenants as per tenancy agreement.
- The Address of the tenanted property.
- The Commencement date of tenancy (minimum 3 months term to apply).
- The amount of rent paid per cycle, e.g., Weekly, Fortnightly or Monthly.
- Confirmation of 3 months satisfactory Rental payment History.