BEWARE: Lettings Industry Tenant History Misrepresentation
Yesterday we were alerted to a worrying tenant history trend that we fear is misleading growth, by misrepresenting what a tenant history report actually is. So we would like to draw your attention to this today, in order to protect yourself and your properties from bad tenants and ineffectual RGI claims in the future.
Following contact with an LRS landlord, about an FCC Paragon tenant reference that they wanted to use alongside one of the TenantReferencingUK RGI policies, one of our vigilant data processors picked up on this part of the reference:
So what is the difference between Tenant History Reports from TenantReferencingUK and any other referencing company currently in business (to date)?
Firstly, lets be clear;
The Oxford English Dictionary defines the term ‘History’ as:
A continuous, typically chronological, record of important or public events or of a particular trend or institution.
The Oxford English Dictionary defines the term ‘Opinion’ as:
A view or judgement formed about something, not necessarily based on fact or knowledge.
Would you say that being reliant on what a tenant tells you is factual?
Would a tenant give a detrimental history against themselves?…
Tenant History Reports from any other Tenant Referencing Provider
This data has been gathered directly from the tenant, meaning that these companies are totally reliant on what the tenant has told them. Even if they supply their real landlord, if the landlord wishes to get rid of them he will give a spurious reference to ‘get shot’ of them as quickly as possible! And although the original landlord on every referencing system may be a bit dubious if they are trying to get rid of a tenant, our landlord members have the ability to upload constantly after the tenant has left and this is where we clinch the lead in trustworthy and transparent referencing procedures. Plus, once the tenant has vacated the property our landlord members are quicker at adding their data to our ever-growing database and as the databases mature, more and more histories are revealing themselves on habitually problematic tenants over the ages.
This misleading tenant ‘history’ data is also historic and static; not in real-time – meaning that it may have not been updated for months or even years!
Tenant History Reports at TenantReferencingUK.com
A Tenant History Report is the data that has been gathered directly from our member Landlords and Letting Agents about their tenant and/or applicant tenant that they may have had apply for a rental property. Gathered by LandlordReferencing.co.uk exclusively over the last seven years, our Tenant History database now holds hundreds upon thousands of real-time entries about the rental histories of both problem tenants and good tenants across England, Wales, Scotland and Northern Ireland. This method has been developed exclusively by us, meaning that no other company in the UK can offer such reports.
Working in real-time, the more Landlords & Agents that join and reference via our system the more Tenant Histories are created. Our members actually become part of that tenant’s reference in the future, so when another member searches for a tenant they will immediately show up as a match as a previous Landlord or Letting Agent. The main benefit of our unique service is that our member landlords and agents will never have to rely on what a tenant tells them to get a complete and proper reference.
Any rent default and/or property damages incurred can also be documented at LRS, which further protects all of our communities from the likes of anti-social behaviour, criminal activity, subletting, multiple applications, fraudulent applications, etc.
Our ever increasing circle of landlord and agent members are constantly updating their uploads on the website in real-time, so it has really worried us that you may be being mislead by your current referencing provider.
Please assist us by posting this story via your Linkedin network, groups and pages, Facebook network, groups and pages, Landlord pins/groups/accreditations/etc and help us to spread the word about this tenant history misrepresentation currently going on throughout the UK’s lettings industry. At TenantReferencingUK we work together to keep the industry trustworthy and transparent, by providing you with a comprehensive Tenants History, rather than a Tenants Opinion!
In this day and age of constant barrages of new legislation being heaped onto landlords and the industry as a whole, you cannot afford to be taken for a ride with the likes of these sub-standard tenant ‘history’ reports.
Have you been affected by spurious tenant history reports? Then please get in touch by clicking here.