Archive for August, 2009

Tenant Check – FAQs

August 18th, 2009

What information do you need to carry out a tenant check?

The minimum amount of information is the tenant’s first & last name, their date of birth, and their current address.  Additional information such as income & outgoings, previous address , employer details and current landlord details is optional for some reports. You will find the information required for each report listed on a form you can print off (the link is just above the Buy button for each report type).

 

Which report option should I go for?

The most popular report is the gold tenant check, however you may find other options more suitable, we have provided more information here >> which report option to purchase.

 

How is the tenant risk score determined?

Risk score calculation is complex.  It takes account of a wide range of factors such as the applicant’s age, their credit default history, the longevity of their credit history, where they have been living, and their traceability in credit referencing systems. 

 

What if my tenant has just arrived into the UK?

In this case the tenant will have very little UK history.  The longer the tenant has been in the UK the greater their credit history profile.  If the tenant has only been in the UK for a few weeks it will not add any value in obtaining a tenant check report.

 

Can you do a check against someone from the Republic of Ireland?

We cannot check the history of applicants whilst they have been living in another country.  Reliable credit referencing sources only cover England, Scotland, Wales and Northern Ireland.

 

Do I need the tenant’s date of birth?

This is very important for any check carried out.  Whilst we can run checks without a date of birth there is a probability we will not find adverse credit history (should the applicant have any).

 

Why isn’t the tenant shown on the electoral register?

Everyone has the right to withhold information from the public electoral register, when this happens we are unable to report the current occupant in the register.   Additionally, as tenants tend to live at an address for a short duration, or share with another occupant, they will sometimes choose not to register for the current address provided.

For details of tenant check options and to purchase reports go to http://www.credit-check-services.co.uk/services.asp

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Tenant Checks – which report option to choose?

August 18th, 2009

The most popular report option purchased is the gold tenant check, this level of report provides a good balance of information that is of benefit to both landlords and letting agents.  All of our tenant check reports can be used to provide checks against guarantors or tenants.

Below we have also summarised what is included within each of our tenant checks to help decide on the most suitable report option for a given situation.

The bronze tenant check

This report provides a summary of any CCJs, Court Decrees, Bankruptcy, or Insolvency against an applicant. Our searches will include a linked address search, this is very important if a tenant has only been at their current address for a short period (which is normal for tenants), you can read more here on the linked address search.

The report has been designed for landlords and letting agents who already have a comprehensive referencing system and only need to check for court orders against the applicant. Alternatively this report is used for a joint tenant who may not be the main income source with respect to a tenancy agreement.

The silver tenant check

This report meets the minimum requirements to satisfy rental guarantee insurance where a tenant is required to have no CCJs / Bankruptcy / Insolvency, at least one address verification, and not in the high risk score category.

The report provides a summary of any CCJs, Court Decrees, Bankruptcy, or Insolvency against an applicant.

A check against the public electoral register for the current occupant registered at an address.

Identification of any related addresses we find.

A tenant risk evaluation score along with a risk scale indicating the probability of default on rental payments.

It should be noted that tenants are sometimes not recorded in the public electoral register, either because they have opted out of having their records published, or because they did not register.  To help combat this we provide additional verifications with our gold tenant check.

The gold tenant check

This is our most popular as it provides a good base range of information suited to rental guarantee insurance and sufficient address verification checks for an applicant should they subsequently need to be pursued for non payment of rent.

The report provides a summary of any CCJs, Court Decrees, Bankruptcy, Sequestration, or Insolvency against an applicant.

A check against the public electoral register for the current occupant registered at an address.

Identification of any related addresses we find.

A tenant risk evaluation score along with a risk scale indicating the probability of default on rental payments.

An additional check against CAIS (UK’s largest database for sharing accounts data) to provide further verification of the current address and also to list the number of financial accounts linked to the applicant’s current address.

Another benefit of the CAIS check is the detail on accounts linking an applicant to an address. Whilst it is normal to have up to 10 financial accounts, a high level of account activity, e.g. over 20 accounts, indicates that the applicant may be under financial stress. Please note however that such checks cannot guarantee to return all financial accounts linking a tenant to an address, the data provided is used only as an ‘indicator’.

The platinum tenant check

This report is most suited to a landlord that is new to letting, or where extra checks need to be taken against an applicant to provide a higher level of assurance.

In addition to the gold tenant check this report provides

Checks against Insight and Electoral Register for both current and previous addresses provided by the applicant.

OFAC and HM Treasury sanctions list checks (covers serious fraud and those suspected of terrorist involvement of funding).  

Verification of employer name with telephone number provided.  We have found cases where applicants provide telephone numbers of friends to pass off as their employer.

Verbal referencing with the existing landlord or letting agent to provide feedback on whether there were any rental arrears or unsatisfactory behaviour.

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Linked address searches

August 18th, 2009

The importance of carrying out a linked address search cannot be overstated.  Take for example an applicant who has a CCJ or Court Decree against their name at an address they were living at 12 months ago.  The applicant then relocates to a new address and provides this address for carrying out an on-line check.

When an on-line search is carried out in court databases it requires a name, date of birth and an address.  If all 3 match then any CCJs or Court Decrees will be found for the address provided.  If the address does not match then the applicant will show up as having a clean record – even though this may not be the case.  This happens because court databases will often not be updated with the applicant’s address(es) subsequent to an original entry where a court order was recorded.

The only way to ensure a full search of court databases is to first carry out a linked address search, and then search against each of the linked addresses found along with the applicant’s name and date of birth.  The linked address search against court databases helps to ensure that any court orders against an applicant are found. We strongly recommend that you only use the services of a company who include linked address searches, otherwise your CCJ/bankruptcy/Insolvency check may not be worth the paper it is written on!

Credit Check Services provides report options that include a linked address search at no extra cost.  For more information on tenant checks or staff vetting visit our website Credit-Check-Services.co.uk.

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Tenant checks

August 18th, 2009

One of the first steps in checking a tenant is to verify their identity.  Whilst we can verify identities against financial accounts and other sources we cannot verify the photo identity.  The very first step should be that you check the tenant’s identity against a passport, or failing that a driving licence identity card.

From the identity provided by the tenant you will have their name and date of birth, verified by the person standing in front of you bearing a true likeness of the photo identity provided.  You now have most of the information needed to carry out an on-line check. 

The next most important piece of information is an address verification.  Ask the tenant to provide a document linking their name with the address they say they are living at.  This document could be an invoice for council tax, a bank statement, a utility bill, etc.  Do not accept a letter from another person or employer, these do not provide sufficient evidence.  If the tenant does not have any document for their current address then ask them for a document linking them to a previous address.

You are now ready to proceed with your on-line tenant check.

Depending on which report option you choose you may need other information ranging from income and expenditure through to employer details.  For each report option you will find a link where you can view and print off a form containing all of the information required.

When submitting the tenant information on-line it is important that you enter the correct spelling of their name, their date of birth, and the last verified address that you were provided.  With this information we can search court databases, financial databases, electoral register, and other databases depending on the report option selected.

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