What Happens After Tenant Referencing?

What happens if you fail tenant referencing?

If your tenant fails to pass a tenant referencing check on their own merit, they may ask if they can put forward a guarantor.

Most referencing companies will run an additional reference check on the guarantor and the tenant will usually be asked to cover the cost of the additional reference fee..

How do I pass a tenant reference check?

Tenant Referencing: 7 Tips That Will Help You Pass QuicklyBe upfront. … Get your paperwork together. … Inform referees. … Answer all correspondence as soon as you can. … Work out who will pay what. … Secure a guarantor before starting the tenant referencing process. … Lastly, have your finances in order.

How long does referencing take for renting a property?

48 hoursOnce the landlord or tenant referencing agency has received the necessary documents and permission, tenant referencing should not take more than 48 hours. Actually, depending on who is in charge of the referencing, it can be from a few hours to a few days.

Can a landlord charge for referencing?

Since 1st June 2019, tenants can no longer be expected to pay for their reference checks. This cost must be covered by the landlord of letting agency, including the cost of any guarantor references that could be required. If the tenant fails the reference check they still cannot be charged for the service.

Do landlords call your employer?

Check references The first call to make should be to the landlord or property manager of their last rental. … Next, your property manager will speak to the applicant’s employer. They should ask if the applicant is likely to still be employed six months down the track, and how they are as an employee.

What makes you fail a credit check?

Some of the most common reasons for failing a credit check might include: There was no way to confirm your identity and address. … You have a history of credit problems. Something as small as missing a single repayment on a loan can cause issues when it comes to a failed credit check.

What happens if you fail a credit check for renting?

If a tenant fails a credit check, you do not have to worry. Even if a potential tenant will make a good tenant, they can still fail a credit check for a number of reasons, and in some cases you may still be able to rent your property to them.

What do landlord look for in a tenant?

Photo identification (a driver’s licence or passport will do) Reference letters (past landlords and employers) Payslips (to show your ability to pay rent) Rental history (your previous rental arrangements, including former addresses, late rent payments and evictions, criminal history, credit score, etc.)

What can landlords see on credit check?

Here’s what landlords usually see in standard credit checks:Loans (current and past)Bankruptcies, foreclosures, and short sales.Minimum payment amounts for debt accounts.Late payment histories.Credit histories.Credit scores.