Tenant referencing is a must for all landlords. We can not stress enough the importance of checking and referencing tenants details before committing to a tenancy.
The reference check is an easy process that shouldn’t usually take much longer than a few days but is worth its weight in gold when protecting your property from nightmare tenants.
The Reference Check includes:
- Credit Check – Looks at the tenants credit score and for any bad credit histories
- Previous Landlords Reference – Checks that their rental history is good and the previous landlord was happy with them
- Employers Reference – Checks their employment status and history with the employer
- Affordability Check – Compares the rental amount with their salary and check whether the tenant can afford the rental amount long term
- Guarantor Check (if needed) – If the tenant may have problems the landlord can request a guarantor. The guarantor will be referenced to see if they can afford the the rent should the tenant fail to pay
For all of our lettings packages we perform full reference checks This approach makes sure the tenant is fully committed to the tenancy and deters any tenants that may not be able to afford the property before committing to a tenancy.
Reference checks do not take away a landlords risk completely but they are a great and effective way to significantly reduce the risk to the landlord.
For more information contact our lettings department.