When you’re applying for a rental property on Snug, accuracy is the key to a fast approval. One of the most common questions from applicants, especially those moving from overseas or working for international companies, is how to correctly input their financial details.
Since Snug is an Australian-based platform designed to streamline the local rental market, following these guidelines will ensure your "Match Score" is accurate and your application is ready for review by property managers.
1. Currency: Always Use Australian Dollars (AUD)
All income details on Snug should be entered in Australian Dollars (AUD).
Because property managers use Snug to compare your income directly against the weekly rent of an Australian property, providing figures in a foreign currency (like USD, GBP, or NZD) will cause the system to miscalculate your affordability.
If you are paid in a foreign currency, convert your income to AUD using the current exchange rate before entering it into your profile.
Pro Tip: If you have just moved to Australia and are still being paid in a foreign currency, it is helpful to attach a brief cover letter or note explaining the conversion you used.
2. Income Type: Net vs. Gross
Snug calculates your rental affordability based on your Total Household After-Tax Weekly Income, also known as your Net Income.
What is Net Income?
This is your "take-home" pay—the actual amount that lands in your bank account after income tax, Medicare levies, and other mandatory deductions have been taken out.
Why Net Income matters
Property managers look at your Rent-to-Income Ratio. Snug normalises your data into a weekly figure to see how much of your actual spending power goes toward rent.
Affordability Calculation:
(Weekly Rent ÷ Total Net Weekly Household Income) x 100The Gold Standard: Generally, spending 30% or less of your net income on rent is considered "comfortable" affordability.
Setting the Frequency
When entering your income, you can choose the frequency (Weekly, Fortnightly, Monthly, or Annual). Snug’s system will automatically convert this into a weekly figure to keep the comparison consistent for the landlord.
3. Include All Income Sources
To give yourself the best chance of approval, ensure you include every stream of income. A higher (but verified) income improves your affordability ratio.
Employment Salary: This includes your base pay from full-time, part-time, or casual work. If your income varies (e.g., casual shifts), use an average from your last 3–6 months of payslips.
Government Benefits: Include payments such as Centrelink, Paid Parental Leave, or Family Tax Benefits. Be sure to upload your latest payment summary as proof.
Investment & Other Income: Don't forget to include dividends from shares, interest from savings, or rental income from other properties you may own.
4. Documentation is Essential
Entering the numbers is only the first step. To verify the income you've entered, you should upload:
Recent Payslips: Usually the last two or three.
Bank Statements: Showing the deposits matching your reported income.
Employment Contract: Helpful if you are starting a new job and don't have payslips yet.