Letting a property is a risky business; you're essentially giving a house or flat over to a stranger whose identity and credentials you have no idea about. Even the seemingly nicest tenants can cause damage or default on their rent.
To ensure you pick the most trust-worthy tenants, it is absolutely critical that thorough vetting is carried out before any tenancy agreements are issued. This task can be undertaken easily through a convenient tenant referencing service.
A tenant referencing service is an online tool that efficiently determines whether an individual is of good character and has the means to pay their rent,
without having to go through a letting agency.
- Reference Check your Future Tenants in seconds, with one Click of a button.
- One Unbeatable Low Cost Fixed Fee.
- Employment/Income Verification in Writing.
- Reference from Previous Letting or Home Ownership.
- UK Residency Confirmation.
- Affordability Calculation.
- Full Credit History Check.
- County Court Judgment (CCJ).
- Bankruptcy and Individual Voluntary Arrangement (IVA).
- Linked Addresses Check.
- Electoral Roll Entries.
- Existing Credit Agreements.
- All for just £50.00
Why is it important to reference check tenants?
Reference checking potential tenants is singularly the most effective step you can take towards safeguarding your property and guaranteeing timely rent payments. The comprehensive checks included by a tenant referencing service may cover whether the individual can afford the rent, reveal any financial issues such as County Court Judgements (CCJs) and ask for testimonies from previous landlords.
In addition, full vetting will establish whether the tenant is who they say they are and whether they legally have the right to live and work in the UK. With verification obtained by a third party, the resulting information could help you find the perfect tenant and reject those that don't meet your criteria.
How does a tenant referencing service work?
Obtaining full vetting is easy, requiring nothing more than the completion of an online form. You will need to have some basic details available, such as the tenant's name and contact details, but once the form has been submitted, the expert vetting team will get to work.
Preliminary results are usually emailed to you within 48 hours at the latest and you may be able to check progress via a tracking facility online. The process is quick and convenient. Plus any queries will be resolved directly with the applicant. All you need do is sit back and wait for the report.
What information does a tenant referencing service provide?
A variety of different options are available, from basic credit check to extensive employment and address screening. Usually, full tenant referencing encompasses the following areas:
- Credit history: CCJs, Voluntary Arrangements, bankruptcies, etc.
- Previous address search to determine, then investigate any undisclosed information
- Identity verification through the Electoral Roll
- Fraud check offering 'fraud potential' rating
- Tenancy score/affordability calculation to estimate the likelihood of rent default
- Employment and income verification
- References from previous landlords
- Guarantor suitability assessment
Importantly, the short turnaround times allows decisions to be made more quickly, enabling the right tenant to move in and your property to start earning. Some services may also offer assistance with the next step in the process: issuing a tenancy agreement.
Ultimately, carrying out reference checks will leave you safe in the knowledge that you made every possible provision to ensure the protection of your property and your rental income. Using a tool like the tenant referencing service could make taking such action far easier and yield much more authentic results.