Referencing speed, without cutting corners
A good let is referenced quickly and thoroughly: the tenant is who they say, they handle credit sensibly, and the rent is affordable. You can do all three fast, and without marking the file of an applicant who is chasing several properties.
Speed versus rigour, and the guarantor question
Referencing is a race against the next agent. An applicant who likes a property wants a decision today, and a slow process loses lets. But a thin check is how you end up with arrears, a difficult possession, or a guarantor who cannot actually cover the rent.
Applicants are often being referenced for more than one property at once, so a check that leaves a hard footprint damages them for lets they will not take, which is both unfair and a poor look for your agency.
Then there is affordability. Rent has to be tested against what the tenant genuinely earns and spends, and where a guarantor is involved, the same question applies to them.
The job is to reference the tenant and guarantor quickly and properly, test the rent honestly, and do it without a footprint that follows the applicant around.
The data that fits
Reference thoroughly, and fast.
Confirm the tenant, and any guarantor, are who they say they are.
A soft, quotation credit view with no footprint and no effect on the applicant's score.
Test the rent against modelled income and expenditure, read against open banking where tight.
Through Credit Canary
The applicant enters details once. CallValidate confirms identity, a soft CallReport returns the credit view without a footprint, and TU Affordability tests the rent, with an open banking connection to confirm the figure where the margin is tight. A guarantor goes through the same checks. You get one referencing decision, quickly.
One integration, at a better rate than buying each check separately, with nothing left on the applicant's file for a property they do not take.
Related
Credit data for lettings agents: FAQs
No, on a soft (quotation) search, which is the right choice for referencing and leaves no footprint other parties can see.
Yes. The guarantor goes through the same identity, credit and affordability checks as the tenant.
TU Affordability models income and expenditure; an open banking connection confirms the figure where the margin is tight.
The checks run on details the applicant enters once and return together, so you can decide the same day.
Reference fast, reference properly
Tell us how you reference, and we will quote identity, a soft credit view and affordability on one integration, at a better rate.