Common questions about tenant assessment
We have put together some questions and answers to assist you in understanding
the Tenant Assessment process. If you cannot find an answer to your specific
question here then please contact the Tenant Assessment Team by telephone (0844
561 7808) or e-mail tas@letsure.co.uk.
» How do I decide what type of referencing I should
carry out on a prospective tenant or guarantor?
» Can I get an assessment carried out on a Company?
» Do I have to obtain consent before getting an assessment
carried out?
» What information will I get back?
» How long does it take?
» When will we need a guarantor?
» When is a tenant applicant/guarantor a decline?
How do I decide what type
of referencing I should carry out on a prospective tenant or guarantor?
Two main types of assessment are available. The first involves a search of a
credit reference database and insurance claims database, using the name and
current and previous addresses of the person being assessed. This is the
"Standard Assessment".
At additional cost, further references relating to the income of the potential
tenant and/or guarantor and the performance during the most recent tenancy
undertaken by the proposed tenant can be obtained. This is the "Comprehensive
Assessment" You can further reduce the risk to yourself or your Landlord of a
loss of rental income by taking out
rental income insurance.
Can I get an assessment
carried out on a Company?
Yes. The references taken up will depend on the constitution of the Company. We
will assess both limited and non-limited companies. Note that you cannot submit
a Company Assessment via the web-site at the present time. You must complete and
submit by Fax the appropriate application form.
Do I have to obtain consent before getting an
assessment carried out?
Yes. This site and the assessment processes are governed by the 1998 Data
Protection Act. As a consequence you must inform any individual of what the
purpose is for carrying out the assessment and obtain his/her consent.
What information will I get back?
For all assessment types, when you submit details via the Web-Site, you will get
an instant report on the first component of the Assessment (Standard). This will
indicate whether or not any adverse information has been uncovered in the
database(s) search. If you have asked for a Comprehensive Assessment then the
more detailed information described in Q1 above will be sent to you at a later
stage, when all references have been obtained.
How long does it take?
For a Standard Assessment (see Q1 above) you get a response on-line upon
submitting the appropriate details, provided that the information supplied to us
is accurate. In the case of a Comprehensive Assessment we initiate contact with
the appropriate referees as soon as possible, however, the timescale is in part
dictated by the referees.
When will we need a guarantor?
A guarantor is necessary when:
- the applicant has a Decline risk score
- the applicant has been declined on affordability
- the applicant is unemployed or is in casual employment
- the applicant's employment contract will be due to expire before the proposed
lease term
- the applicant is unemployed
- the applicant is on Housing Benefit
- the applicant is a student
- the applicant has just come from overseas and employment is overseas
- the accountant hasn't been acting for one year or if they are unable to
confirm details i.e. they haven't completed any accounts that are up to date
- the applicant owns his own business or has just started a new business and
doesn't have an accountant or tax assessment forms
- the applicants hasn't been in emplyment for six months or the employer won't
confirm the applicant's salary details
- your applicant is coming from overseas and their employment reference has
confirmed that they have not been employed for over 12 months.
When is a tenant applicant/guarantor a
decline?
A decline will be issued when
- the current/previous
landlord has confirmed that the applicant has incurred rental arrears,
dilapidation or breaches of their Tenancy Agreement and stated that they would
NOT re-let to the applicant.
- a joint applicant, not contributing towards the rent, has a CCJ registered.
However, they can be a 'permitted occupier' and not appear on the rental
agreement
- the applicant has an outstanding CCJ for more than £100 or a Bankruptcy Order
- Guarantors with a decline credit score or have not passed on affordability
- Guarantors on Tax Credit or if they have any CCJs
- The guarantor is self-employed and is unable to provide independent proof of
sustained, regular income
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