What Will Be Checked During The Tenant Referencing Process?
If you have gone for a job, you will have been required to give references. If you have gone on a date, it is common for the 2 people to do some research on the other first. A kind of background check. If you have children going to a new school, they are required to provide references and a school statement from their previous school.
References are a part of life and a part of many different aspects of it
A tenant reference check is a way to screen for possible renters. Landlords and rental agencies may verify that tenants are who they claim to be and are legally entitled to reside and work in the United Kingdom. Tenant referencing checks also help landlords to weed out distressing tenants – like those who have a reputation of not paying for rent – before leasing to them.
A landlord wants an easy tenant.
The referring of tenants may be done by the landlord directly, or it can be done through a renting agency or a specialised tenant referencing firm. While tenant referencing may appear difficult at first, it is really rather simple. Most of the time, a form or application may be used to collect and submit all the information your landlord requires digitally.
What exactly is being evaluated?
First, an extensive credit check should reveal the tenant’s discretionary income and hence their ability to pay the rent. The report will also take into account any previous history of delayed payment on relevant credit criteria.
Second, it is critical that a prospective renter has the legal right to rent in the United Kingdom, which simply involves validating that you are either a British citizen or have been given legal permission to reside in the country.
3rd, you should get your tenant’s former landlord’s contact information as a critical component of the tenancy procedure, so that you may do a landlord reference check on that potential renter.
When it comes to ensuring that they can afford and pay the rental fees, a landlord will need to call their employer to check actual income if they are a full-time employee in order to validate the means to pay.
And lastly, in order to be classified as a renter, the annual income should be at least 30 times the annual rent. Landlords have a significant stake in establishing a tenant’s ability to pay.
It is not just about money.
Landlords can also ask for a criminal record check, a reference from the employer, they can go on social media and see if the tenant likes to have parties in their home. There are landlords that visit tenants in their current home to see what they live like, and if they are clean and tidy.
Some landlords like pets, others do not. Some landlords like children, others do not. It is a matter of finding a property that you like, owned by a landlord that you get on with, in a location that is suitable, and all within the price range that is affordable.
Sounds easy yes?
