Referencing tenants: everything you need to know

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The best way to reduce risks when letting a property is by referencing tenants before they move in. Although gut feelings and first impressions count, they shouldn’t be the only thing landlords go on. It’s worth shopping around for the best option. Some estate agents offer more thorough checks than others. Here’s a breakdown of what to expect when landlords reference tenants with easyProperty.
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Referencing tenants: have they got good credit?referencing tenants good credit

When referencing tenants, a credit check is important. It gives a picture of a tenant’s previous financial behaviour. In landlord terms, it basically reveals if a tenant can be trusted to pay the rent. Credit checks also search for Country Court Judgments (CCJs). This is where unpaid debts have been brought to court. Landlords may feel less comfortable renting to tenants who have any of these issues.

Affordability

It’s worth referencing tenants to see if they earn enough to pay the rent. As a rule, landlords should check tenants have a household income of at least 2.5 times the rent. Using this calculation, tenants should have enough money to pay for rent and utilities (with some left for the odd bevvy here and there).

Referencing tenants: employability

Affordability referencing tenants This check delves a bit more into the tenant’s employment. Not only will it confirm their earnings, it will also see if the tenant’s job covers them for the full length of the tenancy. If tenants are on a short-term contract, landlords might ask how tenants will pay the rent once the contract ends.

The previous landlord

This part is often overlooked when referencing tenants, but it might be one of the most important. Landlords should ask for a reference from a previous landlord or letting agent. It will show if tenants frequently paid rent on time, if they damaged the property, and whether they made repairs if they did.

Start referencing tenants — free for landlords*

easyProperty referencing tenants Want peace of mind that your tenants are good to rent your property? At no extra cost to landlords*, find out more about a tenant’s credit, affordability, employability, and previous behaviour — all gathered for you in a comprehensive report. Start referencing your tenants and rent with confidence.

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*Each adult tenant referenced will be charged £49.99.