What’s the difference between LandlordReferencing.co.uk and OpenRent?

What’s the difference between LandlordReferencing.co.uk and OpenRent?

Dear Samii

I’m just researching referencing companies and I just wondered what the difference is between you and OpenRent?

Samii says

First of all, OpenRent isn’t a referencing company; they are an online letting agent who outsource their tenant referencing from ‘Rent Now’.

Tenant Referencing UK powered by LandlordReferencing.co.uk is compliant with the ICO and FCA and does all of its referencing procedures ‘in-house’. We are also the only referencing company in the UK to offer the best and original Tenant History reports around.

This is what Open Rent do for £20:

  • 3-5 Working Days (on average)
  • Credit Check
  • Linked Address, Identity & Fraud Information
  • CCJs, Decrees, and other court information
  • Affordability Rating
  • Previous Landlord Reference
  • Employers Reference

And this is what we do for £27:

  • Send and Process Application Forms
  • Tenants Affordability
    Rent Vs Wages, Bank Statements, P60, commitment analysis.
  • Equifax Detailed Financial Report
    Up to 9 Linked Addresses, CCJ’s, IVA, Aliases,  Electoral Roll + Score
  • Tenant History Report
    Landlord and Letting Agents Direct Data Share of Rent Defaults & Property Damage
  • Employers/Accountants Reference
    Employer status, Wage verification, Contract Confirmation only accepted in written format.
  • Previous Landlords Reference
    As supplied by the applicant tenant and only exepted in written format.

All of the data is then cross referenced with all the documents we get and scrutinised for discrepancies. Our referencing takes over 1 hour of time by a data processor to analyse tenant’s ability to meet rent payments, make sure they have no previous problem histories and for £13 more we will even gather and check the Right to Rent Immigration Document Verification; from over 120 countries worldwide.

We then provide the landlord/ letting agent with a breakdown of each element of the referencing in a final report showing them the problem areas as we see them and then we archive all their files so they can get all the references and reports out and see them at any point in the future.

As a tight-knit community, some of our members have had dire experiences with Open Rent with regards to their referencing reports, e.g.:

Open Rent Tenant Referencing = Opening your property up to bad tenants!

On first look they appear to offer value for money on tenant referencing and online lettings products. But it’s important to remember that in this business you certainly get what you pay for; as evidenced in the experience above. Our landlord members pay that little bit extra because they know how thorough, in-depth and transparent our referencing procedures truly are.

Please read our reviews here and here.

The Property Ombudsman also recognises the best referencing practise is total transparency, and lifestyle and tenant histories are an imperative part of modern 21st century referencing; we are the only ones to practice this. Plus, our CEO goes to regular NLA meetings to talk about the virtues of best referencing procedures too.

Have you got a tenant referencing question?
Then simply email samii@landlordreferencing.co.uk and it may feature here, helping other landlords and letting agents with the same query in the future.

Not an LRS member? Click here to join now and gain exclusive access to the only real-time referencing database in the UK, alongside 25,000+ fellow landlords.

Author: SamiiB-P


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