Tenant referencing is a landlord or letting agent's way of finding out and confirming information about a prospective tenant. It helps to make an informed decision on whether to rent a property to an individual (s). Referencing can help build trust that a tenant will pay their rent on time, treat the property with respect and not be a nuisance to neighbours or others. Most agents will use third party organisations to conduct these checks and are therefore bound by their terms.
What’s usually included?
- You will be asked for a reference from a previous landlord. If you have had a bad experience it's best to know this upfront, it really does save time.
- Part of the referencing will involve running a credit check. Again, if you are honest about this from the outset, firstly it saves a lot of time but also means alternatives, such as guarantors, can be discussed. If you do have adverse credit, be upfront.
- You'll need a deposit. No agent is able to ask for more than 5 weeks upfront, so do your maths before you start the process. If you are waiting for a deposit to be returned from a previous rental, this cannot be taken into account.
- Most referencing companies work on an affordability calculator of your household income being 30x your monthly rent. As an example, if you and a partner want to rent a property costing £1,000 per calendar month (pcm) you will need a household income of £30,000 at least.
- You will need to supply the following documents, so having these ready will really help: Bank Statements, Passport, Visa (if necessary), Self-employed - tax returns/accounts and Proof of Residency - council tax/utility bill
We are on hand should you need any help or advice, contact our expert lettings team today.
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