We get asked all the time what sort of tenancy checks we do on a potential tenant before they’re approved for a property.
Here’s a brief overview.
What we look at when assessing a tenancy application
The first thing we check is whether the applicants have a rental history. It’s not essential that a tenant has a rental history – afterall, everyone has to start somewhere – but it is helpful, and where there is a rental history, we will check it thoroughly.
By checking the rental history, we’re looking at their tenancy ledger plus also a couple of their most recent rent receipts as well so we can cross-reference them.
We will also reach out to their current landlord/property manager and get a verbal reference on how the tenants are; not just in terms of how they are with their rent payments, but also how they’re keeping and maintaining the property, how their last routine inspection was, and other things that make up the whole of the tenancy. We’re trying to get an understanding of the tenant as a whole, not just as a rent payer.
Our rental history checks also extend to checking various tenant default databases to make sure there are no outstanding issues with other landlords/property managers.
The second thing we look at is their employment records.
We speak to their employer and if they haven’t been employed for a very long time in their current employment, we will go back one or two depending on how long they have been employed. We’ll speak to their employer. We will obtain copies of their pay slips. We’ll verify that and we’ll make sure that they can actually afford the rent that’s being asked for the property.
In the case of a self-employed person, we will obtain documentation confirming their business registration and we will ask for tax returns and permission to speak with their accountant to make sure that they are legitimately in business and can afford the rental payments.
In business applicants, we will also ask for trade references so that we can get an understanding of how they are generally as bill payers and as businesses to deal with.
These are just a few things that we look at. Of course, there is much more to it than that, however, that’s a broad overview of the things that we look at when assessing a tenancy application.
Now it’s important to note that we will always refer back to the landlord and discuss every single applicant with them. Ultimately the decision on who to accept as a tenant is the landlords. We will look at the pros and cons of every single applicant.
The decision is entirely up to the landlord, but we’re here to assist with that process and make it stress-free, headache-free and as easy as possible.
If we can help you, please make no hesitation in dropping us a line and getting in touch. We’d love to have that conversation with you.