Thorough referencing – protect landlords and reward tenants

20120927-143427.jpg

There are a number of reasons why thorough references on all tenants are an absolute necessity prior to agreeing any tenancy:

A thorough reference protects the landlord and helps to significantly reduce the risks associated with letting out the property
A thorough reference ALSO rewards tenants who have previous history of looking after properties, and their finances, well, thus, giving them a better chance of obtaining their dream home!

What is a thorough reference?

Some (and too many) letting agents will only obtain the very basic references (credit reference, employer reference and previous landlord reference) and will even just write to names given by the prospective tenant (sometimes to find that you’ve actually received reference from their friend and mother!), also, letting agents should ALWAYS allow you to see all references (if requested) to allow you to input in the decision (if you wish) as to whether you are happy with the reference received and want to go ahead with the tenancy.

A thorough, and minimum standard for the protection of landlords, reference must include:

Credit Referencing

Credit score
Fraud indicators
CCJ’s (County Court Judgements)
Identity authentication
Previous Landlords written reference (As given by the tenant)
Employer’s reference

Other references

Bank Account (Can take a long time and is easier to ask for statements)
Council Tax Payments
Previous Landlord (lifestyle referencing)

With A Credit Reference giving you the financial history of a new tenant and a Lifestyle Reference (which gives you a history on how your tenant conducted themselves with previous landlords), you truly have the best of both worlds. And are much safer.

Also, having conducted a reference of this depth,you are also able to undertake a rent guarantee insurance policy, if required (and CPG Lettings would be more than happy to discuss this with you).

Advertisements

About CPGLettings

Landlord and property manager who has been bitten by tenants and had properties poorly managed by Letting Agents. Goal is to offer an all encompassing management service that protects and helps landlords and gives the right tenants a safe place to live. www.cpglettings.co.uk
This entry was posted in Uncategorized and tagged , , , . Bookmark the permalink.

One Response to Thorough referencing – protect landlords and reward tenants

  1. Pingback: Realty World – Your Property Source » Blog Archive » Being a Landlord is Rewarding… But You’d Better Beware..!!!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s