Instant Credit Check vs Full Tenant Reference
There are many differences between a basic credit check and a full tenant reference: A credit check only shows if the tenant has any adverse credit history, and would not expose them posing as somebody they are not (identity theft) and would not show up bad tenants who cause problems for landlords but then jump ship by leaving the property before getting a CCJ.
A full tenant reference goes a lot further, it checks their credit history but also follows up on the information they supply as employment references and identity to ensure they are who they say they are and work where they say they work.
Comprehensive Tenant Reference Overview:
The Comprehensive Tenant Reference simply provides letting agents and landlords with a full tenant or guarantor reference report within 48 hours (subject to the response of third parties like employers/accountants and current landlords) which will address the key checks, provide referee responses and give a decision.
The Comprehensive Tenant Reference covers:
- A 6 year credit history search which identifies defaults, County Court Judgements (CCJs), bankruptcies, repossessions and poor payment records.
- Link address search which locates undisclosed associated addresses & residence history.
- Voters Roll check to check that the tenant or guarantor is who they say they are.
- A fraud check with a score to identify fraud potential.
- An interim report is sent within minutes with above information.
- Validation of 2 references (Employer / Previous Landlord) - All referees are contacted directly.
- Accountant / Solicitor references collected if tenant or guarantor is self-employed.
- Immediate email notification with final tenant or guarantor reference report included when all reference checks are complete.
- A final decision either Accept or Decline to help make a decision on prospective tenants or guarantors.