Tenant Referencing
Our Tenant referencing and Rent Guarantee Insurance products will provide you with all the information you need to make informed rental decisions. We have the right products to suit you including Instant and Comprehensive tenant referencing reports.
| Report Type | Comprehensive Report |
|---|---|
| *Cost per reference (exc. VAT) | £24.95** |
| Income validation score: indicates the degree of confidence in the income stated by the applicant. |  |
| Affordability of the rental share using the income validated by the income referee. | |
| Voters Roll check and Experian's Authentication score. | |
| Public information check for CCJs, Bankruptcy and voluntary arrangements | |
| Score on fraud potential. | |
| Confirm income where the applicant is employed, self employed or retired, income and employment. | |
| Previous landlord is contacted to establish whether there were payment issues or if any dilapidation was recorded. | |
| Automated consistent decisions using sophisticated scoring technology to increase decision speed. | |
| Add to Basket |  |
** Note: If you are advertising a private property on our site, the comprehensive report is included in all our advertising packages.
Frequently Asked Questions
- What tenant referencing report type do I need?
- What are the turnaround times for the tenant referencing reports?
- How do we assess the suitability of a prospective tenant?
- Can I submit additional information after receiving my final tenant referencing report?
- Can I cancel my tenant referencing report?
- What happens next - quick reference guide for prospective tenants
- Can you obtain reports on Businesses, to use for Commercial Lets?
- How do you assess someone who is self employed?
What tenant referencing report type do I need?
Comprehensive - Use this tenant referencing report where you are looking for a decision to support the suitability of the Tenant or Guarantor. To produce this report we take appropriate tenant references; for example to verify the income the applicant states they receive we will contact their employer, pension provider or Accountant. Where a tenant has previously lived in rented accommodation we will check that they did not have payment issues or left the premises in a state of dilapidation.
What are the turnaround times for the tenant referencing reports?
The Comprehensive tenant referencing report is in essence 2 parts,
- The financial element of the report which as above is available instantly.
- This is then enhanced by sourcing the reference information from the employer and previous landlord (if appropriate).
An overall decision is then applied regarding the suitability of the applicant for the proposed tenancy. Our service level is that we will either return the completed report to you within 40 working hours (5 working days dependent on the referees co-operation) or should the requested references still be outstanding, you will be notified via a delay advice report informing you of the reference(s) which we await and the reason for the delay. However typically we are able to return 70% of reports within 2 days.
How do we assess the suitability of a prospective tenant?
Financial Stability
Looks at the applicant's current financial position disclosing any County Court Judgments, bankruptcy orders, voluntary arrangements or administration orders, thereby giving an indication as to whether they will be able to meet their rental payments, reducing your exposure to risk.
Affordability
Assesses the applicants ability to pay, looking at their earnings in relation to the proposed monthly rental.
Previous Landlord Reference
Gives an indication of the applicant's commitment to rented properties in the past and whether there was any dilapidation or arrears on the property during their tenancy.
Employers Reference
Confirms applicant's salary, the position they currently hold and whether this position is permanent, temporary or a fixed term contract.
Can I submit additional information after receiving my final tenant referencing report?
Once we have processed your tenant referencing report and we have created the final report, any additional information included must be submitted in a new application.
Can I cancel my tenant referencing report?
Once the order has been submitted, you are unable to cancel the tenant referencing report.
What happens next - a quick reference guide for prospective tenants.
In connection with your application, we will pass the information you have given to Experian Ltd to conduct a search on your name & address details together with asking them to verify the information you have given on your income or present/previous landlord.
The initial part of the process will be for Experian Ltd to produce an interim report authenticating your name and address details and providing the agent with an insight into your suitability as a prospective tenant. Should you fail this process due to detrimental public record information (County Court Judgments, Bankruptcy Order or Voluntary Arrangements) you can purchase a copy of your credit file via the following methods
Online - www.experian.co.uk Phone - 0870 241 6212 Post - Consumer Help Service, Experian Ltd, PO Box 8000, Nottingham NG80 7THAlternatively should your application fail due to a low tenancy assessment score or affordability the Letting Agent may approach you to discuss other ways of proceeding with your application.
The final part of this process is for Experian Ltd to take up references so an overall decision can be made. Please ensure you advise your Employer/Accountant /Auditor or Landlord that we will be in contact. This will enable Experian Ltd to collect the information they require to finalise your application, ensuring you are able to take up your tenancy with the minimum of delay.
Can you obtain reports on Businesses, to use for Commercial Lets?
Our Tenant Referencing system provides references on individuals. Business reports, which can be used as checks for commercial lets, can be requested, and paid for using a credit card, from the Experian site www.busibody.com reports are available from just £5.
How do you assess someone who is self employed?
Our preferred method is to obtain a reference from the applicant's accountant to establish their Gross Turnover and Gross profit. Should the applicant not have an accountant we would request a copy of their latest six months bank statements. From these statements we would establish their income from deposits made into their account from either cash deposits or re-occurring client credits. Transfers are not be taken as income. Should acceptable bank statements covering 6 months not be available, we would recommend that the Landlord obtains a Guarantor or an upfront payment for the entire rental amount.
Follow us on Twitter
del.icio.us
Facebook
StumbleUpon
Yahoo
Google