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The Importance of Tenant Referencing
Ensuring you find the best tenants for your managed properties is important to ensure you maintain long-term relationships with your landlords. We all know what makes a good tenant but trying to determine who will meet the terms of their tenancy agreement, can be a very time-consuming task. Time which could be better spent on other areas of your business.
You want to be putting forward tenants that are financially able to pay rent on time, will not cause damage to your landlord's property and do not have a history of bad credit or poor tenancy references. Unfortunately, you cannot simply take someone on their word therefore the best way to ensure you know who you are putting forward to your landlords is through good quality referencing.
Our Tenant Referencing reports include:
6-year credit history check
Highlighting any adverse credit, linked addresses, Alias Names
Affordability analysis
In order to ensure that both the tenant and guarantor have the financial capacity to comfortably afford the rent, we meticulously cross-check income references with their accompanying supporting documents.
Employment and income verification
Verification of income references is conducted to confirm the applicant's ability to afford the rental payment.
Right to rent confirmation
We will confirm the tenant has a right to rent in the UK as standard for no additional fee.
Previous landlord reference and verification
References obtained from the applicants most recent landlord or letting agent to confirm the rent has been paid on time.
Document collection and assessment
Documents are requested from all applicants to help us verify income, check affordability and detect fraudulent applications. Open banking assessment conducted on selected applications.
A comprehensive reference you can trust.
Take confidence in knowing we will fully vet the suitability of your tenants before moving in. We take an in-depth and forensic view on affordability, providing advice and insight to the landlord’s agent as things are not always black and white.
We have so much confidence in our referencing process, that we use it to underpin and guarantee our Rent in Advance product where we advance 6 months’ rent against the tenant's ability to pay their rent.
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Increase Revenue
Advanced Rent presents a comprehensive selection of supplementary services that you can extend to both your tenants and landlords. These services are seamlessly integrated into the referencing process, offering you convenience, saving you valuable time, and providing an opportunity to earn income per reference.
By seamlessly integrating these services into the referencing journey, Advanced Rent simplifies the process for you and eliminates the need for additional administrative tasks. Furthermore, for every successful reference that utilizes these services, you have the opportunity to earn income, making it a mutually beneficial arrangement for all parties involved.