The Benefits of Successful Tenant Referencing
The Benefits of Successful Tenant Referencing It is essential to comprehensively vet your prospective tenants with thorough referencing before they take up a tenancy so you can establish their suitability to rent your property.
Referencing from previous landlord or letting agents is vital to build a picture to their tenant history and this will include information such as...
• Whether the property has been left in good condition
• Any delays in rent payment or arrears to their existing landlord
• Start and end date of their previous tenancy
Comprehensive referencing also allows you to establish and verify the income stability of the tenant; this refers to information such as...
• Verification of income or salary to enable them to cover rental payments
• Proof of pension or benefit or credit payments
• Income referencing from their current or future employer and accountant
All this information allows you to establish affordability ratios and to ensure that the tenant is not stretching themselves financially. You can then consider if you want to let to the tenant take up tenancy assuming they can afford to pay the rent.
LetHQ Express referencing if perfect if you do not require income validation or a previous landlord reference. With our express referencing we are also able to establish if the tenant has any CCJ’s,bankruptcy or IVA’s that they may have failed to declare on their tenancy application, along with any undeclared alias names or address.
For more information on LetHQ express tenant referencing visit: http://www.lethq.co.uk/express-reference
In some situations a guarantor may be required. LetHQ has developed their Guarantor referencing to provide the necessary information required to make an informed risk assessment of a prospective guarantor. The safety net of a guarantor is essential should your tenant default on their rental payments. LetHQ’s focus is to ensure that the guarantor fits all suitable criteria should they be required.
For more information on LetHQ guarantor referencing visit: http://www.lethq.co.uk/guarantor-reference
By guest blogger Jamie Hardman