Safeguarding the property and the rental income..
We recommend all landlords reference potential tenants to safeguard the rental income and to make sure the tenants maintain the property. Although not fool proof, tenant referencing provides an indication of the likelihood of the tenant\'s ability to afford the rental payments using various credit scoring techniques. Choosing Lettings of London referencing, we will also take up references with their employer and previous landlords to ensure that these are correct and in order.
By not referencing potential tenants, you may leave yourself open to renting your property to an unsuitable tenant and this could potentially cost hundreds if not thousands of pounds if payment stops. For further protection, Rent & Legal protection can be purchased, provided the tenant\'s references are satisfactory. This protection protects the rental income in circumstances of the tenant stopping paying. Purchasing this product will eliminate the leg work in evicting the tenant. All that is required is to complete a form; the rest is handled by the insurance company. All the while, monthly rent will be paid until successful eviction.
What information does a tenant referencing service provide?
A variety of different options are available, from basic credit check to extensive employment and address screening. Usually, full tenant referencing encompasses the following areas:
References are normally paid for by the tenant.