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I'm sure this has been asked before but I thought I start a new thread to get more up to date info.
Would you recommend a particular company for tenant referencing? What did you like about it and what didn't you like about them? I'll share my examples.
There was also another reference agency I used a while ago but again I didn't like their site because I couldn't monitor progress online or able to get regular updates on the progress of the reference application.
In my experience, some of these agencies fail to provide a tracking facility to see what stage the reference check process is at. I normally want to be able to easily what parts of the checks have come back and what's still outstanding - helps me see how close I am to getting a final report.
Disclaimer: I have no legal expertise nor am I a qualified advisor on any subject. A humble landlord using an open forum to exchange ideas and experiences.
I use Open rent as i find it great value for money , the thing that causes delays are employers references as its probably not top of their to do list.If a tenant is holding things up they do not want your property badly enough, beware.
With Upad you are kept up to date with the referencing process, you are sent an email everyday once the process has started and you can also log in to your account to see what steps have been completed. We also take care of chasing after the tenants as we have a customer service team here at hand, available from Monday to Saturday. A single referencing cost £75, or if you'd like to be able to reference check several tenants in case one fails/pulls back it costs £99.You can visit our website https://www.upad.co.uk or call 0333 240 1220 for more info.All the best.
James, CEO & founder of Upad.co.uk
Upad, I'm sure you offer a great service but can't think what more I would get paying £75 for a reference.
OpenRent isn't the smoothest but gets the job done at £20.
Have used tenant referencing in the past. They were good.
I use Experian. The instant report costs £18 (incl. VAT) and the comprehensive report costs £30 (incl. VAT).
I normally opt for the comprehensive report which includes employer/income referencing, landlord's reference, identity check, adverse financial check and a risk score.
Just an anonymous opinion on the Internet.
I think there is the option to complete the enquiry form yourself or to have the tenants fill it themselves. I always opt for the latter.
You can track online when they have received it back and also which bits are outstanding eg. employer's reference.
The report it pretty much instant once the references come back and gets sent to you as a password protected PDF.
The landlord before the current one. (Current one may want them out & give a good ref..)
Check out Homelet. Not only do they complete referencing for you, they also offer a range of rent guarantee products - if the tenants stop paying the rent, for whatever reason, a claim against a rent guarantee policy will cover the rent and Homelet's legal team will evict the tenant too, if necessary. And, its not as expensive as you might think.
What do you consider "not expensive"? I used to use tenantreferencing.co.uk (I think £95) who have a large database of rogue tenants but my last two sets of tenants didn't meet their criteria so ended up going with LettingsHub who charged £195! Although almost twice the price, I'd rather pay it and have RGI than not. Saying that though, Tenant Referencing were really helpful, but I'm still sending stinky emails to LettingsHub as they haven't replied to my queries going back to March.