Tenant Referencing UK realises the value of better referencing and insurances to protect private landlords from problematic, non-paying tenants and the value to the community of avoiding difficult neighbours.
The introduction of the Tenant Fees Bill (view online draft) will create a huge financial burden on landlords and letting agents.
Landlords and Agents may be tempted to undertake cheap, substandard referencing to cut costs and this will, of course, be to the detriment of everyone. It is because of all of these changes that in order to keep up good standards in tenant referencing Tenant Referencing UK has launched the Tenant Passport.
The Tenant Passport is where a tenant can create their own electronic referencing file, which can be shared with a future landlord or agent. This file is a passport for a tenant to prove (formally and in writing) that they meet the affordability criteria for the rent required, financial stability as well as including good (written) employer and landlord references.
The further benefit for landlords and letting agents is that by introducing their tenants to Tenant Referencing UK, not only will we undertake all of the referencing for their applicant tenants but we will even pay them a credit reward for the introduction.
How can we do this?
LandlordReferencing.co.uk is the largest tenant history data source company in the UK. And because of this, if you recommend your tenants to obtain a new Tenant Passport, this will allow us to create more tenant histories alongside a tenants credit file. We value your lead because this data is extremely important to help good tenants obtain better homes, as well as assisting us [landlords] to stop taking one another’s problem tenants. The value of this introduction by a Landlord/Agent is 50 credits for each and every individual tenant, and 30 credits for any guarantor. Tenant Referencing UK credits have a purchasing value within the Tenant Referencing network equivalent to £1 which can be used at any time to buy referencing and insurance services at Tenant referencing UK and/or Rent Safe UK.
IT IS SO SIMPLE!
Carry out your viewing on your property
Provide the applicant with your Tenant Referencing UK email address
Tenant purchases Their Passport
Tenant requests copy to be sent to your email address
Tenant provides You with the password to unlock and view their file
We add introducer credits to your account
You complete paperwork and Tenant moves in
Want to see the Tenant Passport page?
INTERESTED IN OTHER INCOME?
Take a look at the Rent Safe UK Affiliate program.
- Once a landlord/agent has found a new tenant they simply explain that they accept the reference verification from an independent professional referencing company nominated by the landlord, in this case, Tenant Referencing UK. The landlord/agent should explain to the applicant tenant that they will need to carry out the referencing and pay for the referencing and for efficiency they can assign the report to the landlord/agent for authentication. If this is agreed the tenant can then be sent the email link to the Tenant Passport Page on the tenant referencing UK website (MY REFERENCING PASSPORT)
- The applicant tenant/s must fill out the application form including the email of the landlord to assign the referencing report to, the applicant tenant must then pay the referencing fee of £120 inclusive 20% vat for each individual tenant to be referenced. Once the reference is submitted Tenant Referencing UK will liaise and deal with the applicant tenant/s directly to get all the relevant documentation to create a final report.
- Once the Tenant Referencing Passport is complete the tenant and the assignee landlord/agent can check and verify the tenants referencing report and authenticate the report with Tenant Referencing UK. The landlord/agent can then arrange the other requirements for the tenancy and arrange a move in date for the tenant.
- Once the referencing is complete the credits for the lead commission will be transferred to your account. Note: if a tenant fails the referencing they do not get refunded as the referencing they paid for is carried out by Tenant Referencing in full, however, the landlord/agent will still receive the introducer commission for the lead they supplied. Once the commission credits have been paid into a landlord/agent membership account they can immediately use these to purchase products like rent guarantee insurance etc. via their dashboard