Most renters want the referencing completed ASAP, so they have the reassurance of knowing that they are moving to their new home. The timescales can vary massively on referencing and it comes down to mainly one thing… Are you prepared for them?
When you apply for a property to rent, you will be required to provide the following information.
· Credit Check – This will be carried out automatically once you sign up. If you have anything detrimental on your credit file, then you need to make the agent or landlord aware of this BEFORE you apply.
· Identification Check – Two forms of identification will need to be submitted. One to confirm your Identity (i.e. Passport) and the other to confirm your residency (i.e. Council Tax Bill or Bank Statement). When thinking of applying for a rental property, make sure you know where these are and have them to hand.
· Income Check – Is the monthly rent affordable? You will have to prove that it is.
o If it is pensions or savings, you will need to produce documents to confirm the income or savings balance.
o Benefits? No problem, we will need your latest award letter.
· Residential Check – Own a home or live with your parents? This one is easy… your ID will sort it. In rented accommodation already however, then your agent or landlord will need to provide a reference. Contact names and email addresses are required. Speak to your agent or landlord in advance so that they can action the reference request immediately.
Being unprepared can mean that referencing can take days, if not weeks, to complete. This can be reduced to hours if you are fully prepared.