Tenants & Landlords here is a safer, cheaper and better way to Tenant Reference. | Discuss

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Tenants & Landlords here is a safer, cheaper and better way to Tenant Reference.
12/12/2016
3:16 pm
Paul Routledge
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20/05/2011
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For many years now, tenant charges have been the bone of contention within the letting industry and overcharging by some letting agents has led to demands that all charges are intolerable and therefore need to be abolished.  Letting agents charge tenants in order to cover the costs associated with letting a property and to possibly make a small profit for their company – a practice which is acceptable by every other legitimate organisation worldwide. 

Recently this Government, who appears to be hell bent on changing every law in this Country to stifle our enthusiasm to be entrepreneurs and who (I am convinced) create more and more laws to control and tax us to death, and have basically endorsed that making a profit for your company and charging someone for a service associated withr providing them with a place to live is unfair.  It may be agreed that some agents overcharge for their service however the government has not offered a fair and sensible cap to a tenant costs at say 20% of the rent, they intend to ban them entirely, maybe a great thing for some tenants but then again is it? As landlord’s we simply raise the rent to cover any costs we incur.

All that aside, and whether you agree or disagree, like Scotland, the Government is going to stop letting agents and landlords charge an administration fee for the referencing and preparation of a tenancy agreement (I trust they will stop arrangement fees for mortgage providers at the same time). This, of course means that the cost of referencing will be borne by the landlords and this will make some landlords start to do minimal referencing.

Bad referencing leads to problem tenants, problem neighbourhoods and more evictions going through the courts. Landlords will not want to pay again and again for referencing problem tenants until they find the right one and if they compromise the referencing we will end up with the aforementioned problems within our communities again. It must be up to a tenant to pay for the referencing to prove that they are worthy of a tenancy agreement and that they can and will be a responsible paying tenant. Surely a tenant who can prove to a landlord they are a decent person who pay their bills is a very attractive quality indeed.

That is why we have created this very unique way for landlords and tenants to get good and professional referencing for both parties at a minimal cost.

THE TENANT PASSPORT.

The Tenant Passport allows any tenant to show a landlord that they are contractually acceptable. The Tenant Passport is not biased in any way as it does not judge a person on race, colour, creed, religion, gender or anything else, it simply shows a landlord that the person applying for their property is able to pay the rent, meet their contractual obligations and allowed to rent a property in the UK. The Tenant Passport when issued as a pass the landlord can be offered an insurance to cover any unforeseen problems that may result in the rent not being paid or the need for legal support to evict a tenant in the future up to £50,000.

Landlords using the passport system means that a landlord will not need to pay for a tenant’s references, landlords simply tell the applicant tenant to obtain a Tenant Referencing UK Passport and give them the leaflet and/or URL to the application page (SEE HERE)  This will mean that the Tenant will have to pay just £60 per applicant for referencing and then nominates the landlord they want to receive the report.

The process could not be simpler! Landlords can print out a leaflet (HERE) or send the tenant this URL, (HERE) The tenant can then go to the site and fill out the form to apply for the passport. Once the simple questions on the form are filled out, the tenant can pay via Paypal automatically or we can call the tenant for a Worldpay card payment. Once payment is received we carry out the entire reference for the tenant and the landlord.

On completion of the referencing procedure, Tenant Referencing UK will send both the landlord and the tenant the referencing report. The report will either say “YES” the tenant is acceptable, or “NO” the tenant has failed identifying the reasons for the failure. Should the landlord take the tenant, we can then assign all the referencing paperwork like financial reports, tenant histories, employers references, bank statements and Right to Rent evidence straight to the landlord’s archives on their dashboard. This transparency will show the landlord that all the referencing was carried out properly and in accordance to our best tenant referencing practise.  Furthermore, as previously stated if the tenant has passed referencing, the Landlord can apply to us for a £50,000 yearly rent guarantee insurance and legal expenses cover package for just £80 all-inclusive of taxes.  Tenants that can offer a passport which allows the landlord to take out a rent guarantee and legal cost insurance cover allows that tenant to offer any landlord more security on their investment and gives the tenants a head start on other tenants when applying for a property as they are pre-approved and offer the landlord a great insurance to cover any problems in the future.

So, if you are Landlord looking for a new tenant then simply tell any applicant tenant you will accept them if they have a Tenant Referencing UK Passport.  Or if you are a tenant looking for a new home and want to be ahead of others, then ask your potential landlord whether they will accept a Tenant Referencing UK passport as showing them that will prove to them that you have passed referencing.

12/12/2016
6:51 pm
PaulBarrett
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If I have existing good tenants who may wish to have a tenant passport how long would the referencing last for to qualify for RGI if an answer yes was generated.

Currently my tenants are OK but don’t have RGI.

This is due to two of the tenants being recent EU migrants.

But in 6 months with everything else being OK would  a 6 month tenant history be adequate for RGI?

The 4 tenants are all very good tenants able to comply with all aspects of the AST.

They aren’t planning to go anywhere as far as I am aware!

But it would greatly assist them if they could use this excellent Tenant passport methodology.

Of course the big problem for Govt is what to do with all those tenants who have a dubious tenant passport.

LL who can survive on Tenant passports that state a yes answer for RGI won’t need to bother with other tenant applicants.

However whilst Tenants may fail the LRS referencing will they be given advice on what they need to do to achieve an answer yes.

This could be advice like  paying the full contractual rent on time, desisting with any ASB, and behaving in a tenant like manner which many tenants refuse to do!!!

I have to say if I was faced with a tenant passport which said yes to RGI and other applicants who wanted me to pay for their referencing guess who would get the property!?

I think the Tenant passport is an excellent idea.

It would clearly be in the best interests of tenants to ensure their tenant passport was above reproach as it will give them invariably 1st dibs on the rapidly shrinking rental stock.

Tenants need to realise that to be considered 1st then they need the vest Tenant passport they can achieve

The Gold standard would be an Answer yes, RGI approved.

It would certainly persuade me to give such a tenant applicant the 1st choice of my rental property.

At the end of the day it is for the tenant to convince a LL that they are the most suitable tenant

Indeed in any marketing material I will start indicating preference to be given to a Tenant applicant who has an answer yes on his LRS passport

13/12/2016
9:19 am
Paul Routledge
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Forum Posts: 3418
Member Since:
20/05/2011
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Hi Paul,

I will answer your questions in situ.

  • A tenant passport lasts for 90 days after a tenant has taken it out. The reason behind this is because most financial records are updated every 90 days and the insurance underwriters will not accept cover if the reports are over 90 days. Most tenants have secured a property within this time.
  • Yes, 6 months good payments and a good history of tenure would allow you tpo tae out retrospective RGI insurance.
  • I will be impossible to pass off a tenant passport to a landlord who follows the procedure as they will need to contact us to confirm the status of the passport and have the references assigned to their account. We urge landlords who are taking the passport to contact us to confirm an up-to-date status of an applicant tenant.
  • If a tenant takes a passport to a landlord the landlord will confirm the status and we will confirm the landlord can secure his investment by taking out the RGI. Of course, the tenant can offer this to the landlord making them a better choice as an applicant than a tenant who does not have a guaranteed RGI policy.
  • The advice you refer to I believe would already be created against the tenant with our tenant histories.

I think the most important thing as you say is, a tenant will be able to show a potential landlord that they have passed referencing and are an insurable commodity if offered a tenancy and as you also say to which I agree “They would be the first on the list as my choice”

19/12/2016
10:55 am
Paul Routledge
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Forum Posts: 3418
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20/05/2011
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I explain the ‘Referencing Passport’ here: 

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