A referencing report can tell you a great deal about an applicant. It can also leave you with questions.
Perhaps someone has recently changed jobs. Perhaps their income comes from several sources. Perhaps a credit entry needs an explanation. The useful next step is to establish the facts and understand how they affect the proposed tenancy.
For a landlord trusting us with their property, a bare pass or fail is often too little information.
Start with whether the rent is affordable
Affordability is central to tenant referencing. We need reliable evidence of the applicant’s income and a sensible understanding of their commitments.
A headline income figure may look reassuring, but it needs to be supported. Equally, a straightforward salary is not the only way someone can demonstrate that they can afford a home.
The application should explain where income comes from, what can be verified and whether any important change is expected. If a guarantor is proposed, their position needs checking too; simply naming one does not answer the affordability question.
Check that the information fits together
The reason for moving, current housing circumstances and available rental history can help explain an application. They also give us useful points to verify.
For example, dates on an application may need clarifying before an employment reference can be understood. A missing landlord reference might need further enquiries rather than an assumption about what happened.
The purpose of those conversations is to resolve uncertainty. Information that remains unverified should be identified as such when the landlord reviews the application.
Give a credit issue the attention it needs
A credit concern should be investigated. That means looking at the information available, asking for an explanation where appropriate and considering what supporting evidence exists.
An applicant’s explanation may be relevant, but it still needs assessing. The landlord should understand both the concern and any evidence that helps put it in context.
Where additional support is being considered, its cost, availability and terms matter. A guarantor arrangement is only useful if it is suitable for the tenancy and everyone understands what they are agreeing to.
Help the landlord make a properly informed decision
Our role is to present the verified financial position, relevant references, any gaps and the reasons behind our recommendation. That allows the landlord to assess the application with more confidence.
No referencing process can guarantee how a tenancy will unfold. Careful checks can, however, make the decision better informed and avoid overlooking useful information.
There is a person looking for a home at one end of the process and a landlord’s investment at the other. Both deserve care.
If you need help finding and referencing tenants in Blackpool & The Fylde Coast (and surrounding areas), contact True North Property Partners on 01253 486 996 or
