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Comprehensive Search with Insurance
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6th November 2006 |
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| Comprehensive Search with Insurance |
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| Key Points:
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Quote "If you must play, decide on three things at
the start: the rules of he game, the stakes, and the quitting time" American
Proverb
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Full
Article:
- On-Line
Comprehensive
Credit Search with Insurance
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- Apply On-Line
- get a comprehensive credit search and
referencing, normally with 48 hours
- Voter’s roll
registration details at current address and previous
address (if less than 3 years at current address).
- County Court Judgment (CCJ) or
Court Decree (CD) at current and previous addresses
(if applicable.
- Details of any Bankruptcy or Individual Voluntary
Arrangement (IVA) or any other credit information of a
detrimental nature.
- Verification of current employment details to include
position, length of employment, whether employed on a
full-time and permanent or temporary or fixed term
contract basis, and annual salary.
- References, if applicable, from current/previous
Managing Agent or Landlord to include length of
tenancy, amount and promptness of rental payments,
details of any dilapidations, and whether tenancy was
conducted in a satisfactory manner.
- Reports from an Accountant and/or a Solicitor if the
applicant is self-employed.
- Assessments of the applicant’s suitability for a
tenancy, taking into account all of the above reports
and references and also the applicant’s age, marital
status, employment, property ownership etc.
- A recommendation as to the applicant’s suitability for
a tenancy.
- Full report normally within 48 hours. If unable to
meet 48-hour deadline, guaranteed Interim Report
detailing reasons within 48 hours.
Steps to Tenant
Verifying:
- Prospective tenant
completes the Tenancy
Application Form.
- Landlord/Agent
retains the form for records and completes
the on-line form - click on links.
- Landlord submits
the form and pays by credit card.
- Agent submits the
form - payment is on account - for a
letting agent
account contact:
tenantverify@landlordzone.co.uk
- You receive
confirmation of your order from Raeburn.
- Raeburn completes the
checks and sends the report.
- Results can be sent
by e-mail, fax or mail
On-Line
Comprehensive
Credit Search with Insurance
Insurance
Do I really need the
Insurance
cover?
Despite the most rigorous
tenant screening process
and management of your property, the
unexpected can always happen. A tenant may
be unable to pay the rent
due to one or more of the following
reasons:
-
Redundancy
-
Accident
-
Sickness
-
Divorce
This
could involve you in a shortfall in rental
income which could spell disaster if you
are relying on rent to cover mortgage
payments.
Also,
legal costs can mount because of a tenancy
breach or other disputes arising during
the course of the tenancy.
How can I benefit?
If rent arrears, a breach of tenancy or a
dispute should arise, legal experts can be
brought in at the onset. Matters can be
resolved quickly, and if necessary
eviction can be obtained and the property
remarketed for re-letting, during which
time you will have the benefit of free
legal advice, legal action and rental
guarantee.
How does it work?
Once a tenant has been approved for
inclusion on the rental guarantee scheme
the premium can be paid by various means.
The whole process can be completed quickly
by e-mail, phone or fax with no forms to
complete.
What are the packages?
Raeburn rental guarantee
and legal expense policies
are available at very competitive rates to
give landlords that added peace of mind
and security. Policies are available in 6
or 12 month periods for monthly rents up
to £3000 per calendar month.
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-
Search
Results Explained
3 Star
The
applicant has achieved the highest credit
score. This means the application was
accurate and the details on it have been
verified by our staff. Based on their
confirmed salary the applicant will be able
to meet the rent requirement.
2
Star Plus
The
applicant has achieved a high credit score.
This means the application was accurate and
the details on it have been verified by our
staff. However the applicant has not been
registered on the Electoral Roll, and the
reason has been satisfactorily explained to
us. Proof of residence is required.
2
Star
The
application is truthful but the prospective
tenant is not considered to be sufficiently
financially secure to meet the rental
required. During the course of our enquiries
nothing detrimental has been discovered.
Raeburn
UK Limited will recommend that a suitable
guarantor be supplied for 2 star applicants.
3 Star
and 2 Star and 2 Star Plus scores are valid
for the period of the tenancy term advised
to Raeburn UK Ltd. We recommend the
re-referencing of applicants if tenancy
agreements are renewed. A reduced fee can be
agreed for agents who undertake routine
re-referencing.
1
Star
The
applicant is not considered to be suitable
for the tenancy. This can be for a variety
of reasons, which may include:
- Adverse
references from previous landlords
- Poor
Credit history
- An
Untruthful application
Results
and Recommendations
Once Raeburn have carried out the necessary
checks, the results will be sent to you in
an easy to understand format, with recommendations.
Results
can be sent by
e-mail, fax or post
On-Line
Comprehensive
Credit Search with Insurance |
Nice
car, nice suit, nice chat - no rent! Don't
get caught out - successful landlords have mastered
the art of selecting
their tenants very carefully. Follow the process of
tenant verifying conscientiously, make NO exceptions
and ALWAYS do credit checks and references
Remember this - no tenant at all is 100
times better than a bad one - you will only know the
full truth of this statement when you have experienced
the nightmare yourself!
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Contents ©
LandlordZONE® 2006 all
rights reserved.
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