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
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.
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.
Who is the insurer of your Tenant Contents InsuranceOur Tenants Contents cover is underwritten by a panel of cherry picked insurers consisting of Axa, LV, RSA and UK General.
Who should i contact in the event of a claim?In the event of a claim, you should contact your underwriter which will be detailed on your certificate of insurance.
Can i transfer my No Claims Discount (NCD) from another policy?Yes. If there is more than one person named on the policy with two different NCD, the higher can be used I'm sharing the property but the only one named on the tenancy agreement.
Are we all covered by this policy?The policy covers you, your partner and any other person permanently living with you under their tenancy agreement (including any children or foster children). The policy does not cover lodgers or other tenants not covered under your tenancy agreement.
What is the cooling off period for this cover?There's a 14 day cooling off period from the start of the policy. In the event of cancellation after the cooling off period, a pro rata refund will be given if no claim has been made.
What is the most i can claim for one item?The most you can claim for any one valuable is £2,500 unless the item is specified on the policy.
I work from home, is my business equipment covered?"Business equipment is covered up to the sum insured for clerical work only. Business equipment is defined as computer equipment, printers, photocopiers, computer aided design equipment, office furniture and furnishings and telecommunications equipment used in any way for business purposes. This does not include any property held as stock.