What do referencing agencies check?
Typically the tenant checking or tenant referencing process will include a credit check, previous landlord’s reference, bank and employment details.
How long do credit reference checks take?
Actually, depending on who is in charge of the referencing, it can be from a few hours to a few days. According to the Association of Residential Letting Agents (ARLA), carrying out credit checks, collecting references, and attending viewings can take an average of eight hours to complete.
What does HomeLet check for?
With HomeLet, our references include a credit search, so we’ll check things like: Any adverse credit history, such as bankruptcy, County Court Judgments (CCJs) and court decrees. Whether you have any previous names and addresses which you may not have disclosed.
How can you fail tenant reference check?
This includes:
- Banking – Negative feedback usually means someone has been moving bank accounts too often which can be a sign of poor money management or credit problems.
- Affordability – If the tenant’s income is less than two and half times the rental amount they will usually fail referencing.
Where can I get a homelet reference check?
For the sake of anyone who may be interested, as stated in the post by others Homelet will carry Credit Reference checks for a new Tenancy proposal. Unusually the first check they carry out is with the Call Credit Reference Agency. This is relatively unusual as Call Credit are a very small agency compared to Experian/Equifax.
Is it safe to use homelet for tenant referencing?
HomeLet have over 20 years of experience and you can rest assured that you’re in safe hands when it comes to referencing your future tenants. We go the extra mile for landlords so you can rest assured that you have the right tenants moving into your house. Have you considered guaranteeing your rental income?
Who is homelet and what do they do?
HomeLet is a leading supplier of Landlord Insurance, Tenant Referencing and Tenant Insurance. HomeLet is a trading name of Barbon Insurance Group Limited which is authorised and regulated by the Financial Conduct Authority for insurance mediation.
Do you need to check your homelet report again?
So, if you need to move again in the future, you can check your report again. If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies. Law enforcement agencies may access and use this information.