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  1. Reference checking tenants?

    If you are a Chelmsford landlord you will know reference checking tenants can be time-consuming and frustrating. Frustration can arise because tenant referencing is left to the final stages of the negotiation process. But if you can introduce referencing your Chelmsford tenants earlier in the process things could go more smoothly.

    Their new system is known as ‘pre-referencing’, it means the landlord or their letting agent can simplify the referencing process, saving everyone time and money. Pre-referencing allows landlords to see the tenant’s references and credit before embarking on the rental process, normally via a rental passport.

    Rental passports include a credit check, affordability statement, address checks, income information and employment information, and can also include digital ID. The tenant owns this history for the entirety of their renting lives and can use it every time they move.

    This rental passport is then shared with landlords by the tenant ahead of viewings, allowing the landlord to see the tenant’s verified identity and affordability upfront. This not only allows the lettings agent to match properties with a tenant’s affordability but also ensures that landlords and lettings agents are meeting a vetted, qualified lead.

    The process of acquiring a rental passport is very simple; a tenant inputs their employment and residence details, and a soft credit check is then run on that individual. Some tenant passports go even further by pairing a selfie with a passport to verify the tenant is who they say they are, and can also validate, through ‘open banking’ access, both their salary and previous regular rent payments.  The tenant then holds this data, ready to share, in their own personal and fully portable digital rental passport.

    The benefits of pre-referencing for Chelmsford landlords and tenants alike means that the important referencing stages are done at the start of the process, by predetermining the suitability of potential tenants for your Chelmsford property, everyone can benefit from reduced administration costs.

    https://www.landlordtoday.co.uk/breaking-news/2018/10/what-is-pre-referencing-and-why-it-will-make-your-life-easier