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Finding a tenant: 5 steps closer to peace of mind

Posted on 2014-06-05

Renting out a property is a significant financial commitment, and it is one that should never be taken lightly. Your properties are your livelihood and, if you've spent hours hammering, drilling, sanding and painting them to ensure that they’re up to the correct standards, then you’ll want them to stay in top notch condition.

Helping You Find the Perfect Tenant

Due to the financial outlay on your part, you need to be absolutely certain that your property is in safe hands. No matter whether you’re renting to students or families, you need greater peace of mind; and that’s exactly what the tenant referencing system provides you with.

The referencing system both helps act as a safeguard against damage to your property and provides you with the security that your rent will be paid on time as per the tenancy agreement. Of course, as you’d expect, anyone with a ‘patchy’ employment history is far from the ideal tenant, as is anyone with a poor credit history. The joy of the tenant referencing system stems from the fact that it can help safeguard you against tenants who have any of these issues, helping you ensure that you get your rent on time.

For this reason, it’s best to think of the tenant referencing system as a form of vetting process that helps you limit the risks associated with renting property. We've all heard the scare stories associated with renting and property management and, of course, no matter how much your home insurance covers, you should never have to rely on it entirely.

5 Steps Closer to Peace of Mind

Of course, saying this is all well and good, but what does the system actually tell you? Here are 5 ways our fantastic references will help find you the right tenant: 

1. A Check of Their Credit History: By looking at their credit rating, you’ll know everything about the history of your tenant’s credit scores instantly, with the system assessing their history against a number of set criteria. As well as this, the credit check also verifies that their bank account is genuine, helping you sleep easy.

2. By Obtaining Current References: As part of the service, we will contact your tenant’s current employer and current landlord on your behalf. This will help you get to know more about your tenant, including whether their employment is likely to be ended in the near future. As well as this, it will help you find out what they’re like as a tenant at their current property. If they've caused trouble, it is more than likely that the previous landlord will tell you.

3. Assessing Any Financial Sanctions: This ensures that your prospective tenant isn't registered on any of the Government’s Asset Freezing lists, as this could mean that they may have a problem paying rent in future months. This also includes CCJs and Bankruptcy History.

4. Performing a Check on Any Previous Names, Addresses and Aliases: This will help you understand more about their long term history, helping you uncover any previously hidden surprises.

5. A Guarantee to Remove a Tenant Who Refuses to Pay Rent: For ultimate peace of mind, Our Optimum reference will even guarantee to remove a tenant who refuses to pay rent, ensuring that your income is always protected.

So, there we have it, 5 ways tenant referencing can give you peace of mind. Make sure you use it next time you’re looking for a tenant.

 

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