What is Tenant Referencing? 

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

The rentals market is extremely competitive at the moment so getting yourself prepared will really save you time.  

We are on hand should you need any help or advice, contact our expert lettings team today.