First, please check with us that you have the permission from the landlord to install a water meter. Once it is ok, you may request it for free from Thames Water here. Even if it cannot be installed, this is still good news. As long as you have the engineer visit to confirm that it cannot be installed, you will go on a ‘Assessed Household Charge’, which will often be cheaper than what you’re paying now. If you are living alone, you will also qualify for the Single Occupant tariff.
These are what you call ‘bulky waste’ and must be arranged to be collected, otherwise you may be charged a fine. Some councils charge for collections and others don’t so visit your local council website. Alternatively, you could also donate it to a charity.
The calculation is Rent pcm x 12 / 52 = rent per week or Rent pw x 52 / 12 = rent pcm.
The easiest way to tell is by the unit it says on the meter. The one that says cubic meter (m3 or M) or if it’s an imperial meter, it will say ft3 of Ft, will be for gas. The electricity meter’s unit is different. It will say kilowatt hour (kWh).
This is called the rent affordability test and most agencies and referencing companies use a standard formula between 2.5x to 3x rent-to-income ratio. For example, if you want to afford a £1,500pcm property, you will need an income or if sharing, a joint income of £54,000 per annum (£1,500pcm x12 months x 3).
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