With the arrival of Universal Credit a tenant reference containing a tenant’s history is now more important than ever.
At Landlord Referencing we ask this question :
Will we ever see the growing rental market in this country go the same way as credit cards and personal loans have – in being history rated?
It has always been the case that the better your credit rating = the better interest rate or better loan you will be offered.
Therefore, with the ever growing rental market in the UK, it begs the question: “Will our rental market become tiered?”
It stands to reason that the better a tenant’s overall previous tenure history is, the better the property they’ll get – and possibly at a better price.
At landlordreferencing.co.uk we believe that grading tenants, subject to their history, will become an integral part of the traditional process of referencing. This is because our existing members do it every day and we have more and more members joining on a daily basis primarily to do this.
Our community of landlords, who have all suffered with bad tenants at some point, have said:
“I would be more than happy to offer my property at a lower rental if the incoming tenant had a high credit rating. I would also be more than happy to offer my property if they had good credentials from their last landlord and those credentials were backed up by the registration on this website”.
The majority of our members have also expressed the need for a tenants history to be provided direct from their previous landlord, as they find all other methods untrustworthy – whereby a tenant’s ‘ CV ‘ or ‘ passport ‘ is compiled by the tenant themselves.
It stands to reason that landlords want security and therefore are prepared to give rewards to those tenants who can give them that security. It also stands to reason that good tenants want good landlords, good neighbours and a nice home. Therefore, in light of a current survey we have carried out in this area, we believe that good tenants that create a good ‘ TenantCred File ‘ will benefit from better homes when searched by good landlords who lifestyle reference together.
Quite simply: if a prospective landlord can see that you have registered with our system, then they will trust you just that little bit more.
As a tenant you can simply register yourself on our unique ‘ TenantCred ‘ system, providing limited details, and our data controllers will contact your previous landlords to access the history of your tenancies. Your unique file will then be created – it is as simple as that.
This will be of great importance for those tenants that have a bad credit history but have maintained and established themselves as being a good tenant throughout the problems they’ve experienced.
A tenant who has a ‘ TenantCred File ‘ can tell future potential landlords or letting agents that they can check their ‘ TenantCred ‘ with landlordreferencing.co.uk and they can do this because their previous landlords have registered their previous tenure with landlordrefencing.co.uk. Any landlord or letting agent can then see that looking at a possible problematic credit history has not affected a tenant who wished to look after their home and has done so even throughout their financial problems.
All landlords will always take a tenant who pays their rent and looks after the property over someone who has paid an exorbitant loan or credit card and let their rent fall into arrears.
Many tenants who have chosen to take out pay day loans and now cannot pay their rent are experiencing this exact problem.
Paul Routledge, Founder & CEO of LandlordReferencing.co.uk, comments:
“I myself took a tenant on who had financial problems. After her husband left her, with nothing except the children and the bills, her current landlord was selling up and she had to move. Not only could I check with her last landlord at landlordreferencing.co.uk I could also check with her previous landlords who were registered on the system, and all said the same thing: ‘She was a good, quiet tenant – that paid the rent’.
She could not fully afford what I was asking for but due to her good tenant credibility I reduced the rent to offer her and her family a long term home.”
You can create a file right now by simply filling in the form below, and the best bit is it’s totally free!
Get the credibility you deserve at TenantCred.co.uk.