Residential referencing is an important part of renting out your property. It is essential that you know who you are renting to, and to make sure that you are getting involved with tenants who suit your offering.
Residential referencing (otherwise known as tenant referencing) is a landlord’s way of finding out about a prospective tenant so that they can make an informed decision on whether to rent their property to that individual.
Whilst the majority of the time tenant referencing is procedure and doesn’t result in the tenant not being approved, this can happen and so it is important to be prepared for either outcome.
It is possible to do your own tenant referencing, but most letting agents will employ a professional referencing provider to conduct the checks for them. By employing a professional to carry out your tenant referencing, you can be assured that every necessary check will be carried out, allowing you the time to continue with other property work.
All adult tenants aged 18 and over must be named on the ‘Tenancy Agreement’. Whether they are contributing financially to a share of the rent or paying for all of it, all tenants will be required to have a reference check completed.
There are several types of referencing that you might want to ask your tenant to provide in order to prove whether they are suitable to rent your property. These references will vary depending on the kind of tenant – for example, if your tenants are students, full-time employees, or self employed. Checks usually involved include:
If you are a landlord looking for help with carrying out a residential tenant reference, or a tenant looking to prepare for one, Centrick can help you.
Our fully managed residential lettings services include tenant referencing alongside advertising, accompanied viewings, preparation of tenancy agreements, rent collection, resolving maintenance issues and more.