A Solution Guide To A Failed Tenant Reference
Because Clooper believes that everyone deserves a place to call home, we’ve put together a list of what we consider should be your next step if your tenant reference fails.
While there are certainly other aspects of you to show, that first initial impression you give is still very important. It can determine everything. Most tenants know a great deal about first impressions, due to tenant references which are similar in principle. For tenants, a tenant reference initiates the beginning process of sealing a new property lease. It is the first thing landlords look for when viewing prospective tenants. Ultimately, a tenant reference massively contributes to a landlord’s decision into who they should lease to.
Referencing clarifies a prospective tenant’s credibility through a history check of their past behaviour in a previously rented property. It also examines the tenant’s financial history. Overall it is an effective background check. If you are interested to know more about background checks as a tenant and how to qualify click here, we’ll show you how.
For most tenants, tenant referencing is smooth sailing and a quick process. There are rare times when a tenant’s reference does not surpass the landlord’s expectations and is refused. If you want to know more about what steps to take next, when this rarity happens, stick around.
In the event of a failed tenant reference, we advise you to seek a guarantor. Those who are most eligible and require a guarantor are students without a consistent form of income. As well as, a new tenant, leaving their home for the first time. If you are in this position, seek out a guarantor.
Almost anyone can be a guarantor. A guarantor is someone who agrees with the landlord to pay your rent for you.
A qualified guarantor has to be over the age of 21. Having a good credit history is also a requirement as is a sufficient income. This forms a solution if your tenant referencing fails due to a tenant’s affordability calculation. Equally as important as if they are a homeowner. Unlike the prospective tenant, a guarantor must have a good credit check. Passing all of these checklists warrants their credibility.
Investopedia discusses the advantages of having a guarantor. Investopedia says, “having a guarantor means that the loan or agreement has a higher chance of being approved and much more quickly. Most likely, it can allow for borrowing more and receiving a better interest rate”. Another advantage is that for tenants it can help improve their credit history.
PREVIOUS LANDLORD REFERENCE
Failure in providing a current address is a problem that a tenant can face. This is more common than you think. And it leads to one of the reasons why a landlord might decline your rent reference. A tenant might fail to provide a previous address if the tenant is not responsible for paying any of the bills at their current property.
For prospective tenants, this can be a trying and challenging event to face. However, there are always options for you to take. You can ask your current landlord to write a letter to your potential landlord. This optimises the credibility of your address.
While also ticking the box of a landlord reference which a lot of landlords value. We advise you to ask for your current landlord to provide you with a tenant reference. As a new tenant, there are many obstacles you will fail. Having a viable tenant to vouch for you can really help you in the future. Effectively, it can enhance your chances of getting a tenancy.
FIND AN ALTERNATIVE
Ultimately, the decision will always remain with the landlord. Every landlord is their own unique individual, with their own unique principle. If they want to let to a tenant who has failed their tenant reference, they can.
While some landlords may be reluctant or decline your tenant reference there are always alternative options. We understand the feeling of finally finding the property that is just right for you. However, if the landlord is final with their decision to fail your reference, there are always alternative properties. We advise you not to see a failed tenant reference as the result of your dream house closing. The right house for you is ready and waiting to welcome you in.
Finding a property is not easy. Head over to Clooper today! If you are a first-time tenant looking for a property to rent. Or your lease is up. You can start your journey by finding the right landlord for you. Sign up and find the house you have been waiting for. It is easy, at Clooper, we will show you how.