Fast tenant referencing is easy – when everyone knows what’s going on.
A good letting agent will do the groundwork – they will ask questions when they first speak with the potential tenants. On the initial viewing, the agent will make the tenant aware of the main requirements to pass a reference check. How much should they be earning to pass referencing? Are they aware of anything that may affect their credit score? Have they paid rent on time in previous tenancies?
First things first… once the potential tenant is put forward for checks, any referencing company – that wants to do an efficient and thorough check – will want to speak with the tenant before they fill in their application. Why? For many, it’s the first time they are going through this process. This is where a professional tenant referencing agent can bring reassurance and advice about what’s needed, how to keep it quick and can spot any red flags straight away.
The tenant – it’s the tenant’s responsibility to provide true and accurate information on day one. If anything is missing or incorrect, the best referencing companies will find out and be sure to complete a full and accurate credit report. Those going through reference checks should follow up with each referee until they know that they’ve returned a reference.
The income reference – the tenant should give a heads up to their employer or accountant and have income documentation at the ready. This way, when the reference request pops into their inbox, they are clear about what it is and can reply quickly.
The landlord references – in the same way, the tenant should make all other referees aware that they will be contacted for a reference, including any current or previous landlords or letting agents.
The credit check – this is often the part that many tenants are most anxious about, but this is usually because they’re unsure about what their credit score is and whether they have a healthy credit file. It doesn’t need to take tenant referencing to discover that there is something unwanted going on in the credit file. Tenants can view their own credit data for free on sites like creditkarma, which is powered by one of the big 3 credit agencies, Transunion.
HM Referencing work closely with letting agents and landlords across the UK making sure that their potential tenants have been thoroughly screened. For more information, visit hmreferencing.co.uk or call the team on 01905 721243.