1. Why Tenant Referencing Is So Important for Landlords & Tenants……LANDLORDS:

Good quality referencing is the first line of defense against renting your property to an unsuitable tenant. it is important that all landlords or Agent carefully carried out referencing and the impact it has on new tenancies.

Another reason that landlords protection insurance will decline any claim against improper reference check.

TENANTS:

Tenancy reference is also very important for tenants, at some stage in your life there’s a good chance you will be asked to provide a reference letter. This could be for a job application, Home loan application, rental application or even to obtain a foreign visa.

2. What information can be included in the letter?

Depending on the reason for the rental reference letter, it may include the following information:

1. Tenant information including your name, address of the property you rented and dates of occupancy.

2.The condition of the property while you were renting and when you moved out.

3.Tenant ledger, if your rent was paid in full and on time, and if you had any debt when you moved out.

4. Most importantly, your behavior during occupancy, including any complaints from neighbors and how you discussed issues with the landlord or property manager.

1. How rental reference can help in your home loan application:

When you are applying for a home loan, most lenders may request a rental reference letter as evidence of your ability to save and make payments on time.

Also some lenders may not accept a rental reference letter from your private landlord as they may be a relative or friend of yours and are generally not registered professionals like a real estate agent or property manager.

It’s always better to rent through real estate.

Your rental reference will play the vital role when you are applying for a loan if you don’t have good references you will end up providing large sums of money for deposit, guarantor etc.

For More Information please contact one of our friendly staff….