Below is a list of questions and answers that we thought you may find helpful, however, should there be anything else you may wish to ask us - we are always here to help.

Q: How do you calculate the income to meet the rental requirements?

A: Although it is not a strict measurement, we use the following formulas as guidelines for tenants and guarantors.

TENANTS: RENT x 2.5 x 12= REQUIRED INCOME
GUARANTORS: RENT x 3 x 12= REQUIRED INCOME

Should the applicant not meet these requirements, we do still take credit scores into account as well as tenant references.

Look in ‘agents resource centre’ to download the affordability calculator.


Q: Can we reference two people on the same form?

A: No, we require 2 separate applications for each candidate, even if they are husband and wife. We do have a facility on-line which enables you to enter as many applicants as you like for the same property which makes things faster and much more efficient.


Q: Do I need to reference all parties concerned with the tenancy even if an individual is going to be responsible for paying the rent?

A: This is dependent upon whether the application is for a Rent Protection Policy. (see below for questions regarding Rent Protection) It is a good idea to reference all individuals over 18 years of age to ensure that no applicants have got previous adverse history.


Q: Can we reference someone that has little or no income but has substantial savings?

A: We are quite happy to accept savings; however the calculations no longer apply. We will only accept a very recent statement to see what the current balance is and we would require the sum of the savings to equal more than the required income.


Q: I know that my tenant will pass as they are in a high income bracket, why would I still need to reference them?

A: Even if an applicant has enough income to pass the reference, we take more factors into account such as their credit check and tenant reference. 1 in 11 adults in England and Wales have county court judgments against their name and you need to ensure this candidate is not one of them!


Q: If the applicant was referenced at the beginning of the tenancy and paid six months in advance, what should we do when the initial tenancy term comes to an end?

A: We would ordinarily ask for the full rental amount in advance only due to factors such as: unemployment, foreign resident with no employment, being unable to provide sufficient proof of income etc. At the end of the initial tenancy term it is advisable to re-reference the tenant to confirm whether you will need to take another advance rental payment or if they could in fact now meet the requirements.


Q: Can I apply for the Rent Protection Policy once the tenancy has already started?

A: No. It is one of the terms of the Rent Protection Policy that the tenancy starts within a 60 day period once the tenants have been referenced. (Students have a 6 month period in which to start their tenancy.)


Q: Do I have to reference all the prospective tenants with the Rent Protection Policy?

A: Yes, the policy terms and conditions state that the tenancy agreement must match the Rent Protection Policy; therefore anyone on the tenancy must be fully referenced in order for the policy to be valid.


Q: When applying for Rent Protection, if one applicant works and the other is a housewife/househusband do they both still have to be referenced?

A: If the 2nd applicant is a housewife/ househusband- and has no tenant reference to obtain (i.e. they live with friends/family or are property owners) then it is possible just to do a credit search on this applicant. However, the 1st applicant must then be able to meet the rental requirements in their own right.


Q: If the tenant is paying six months in advance, what will happen when the policy is up for renewal?

A: If the Rent Protection Policy is issued, and we state that 6 months rental is to be paid in advance, then when it comes to renewal, the same conclusion applies. Alternatively, they can be re-referenced i.e. if their circumstances have changed and they now meet the rental requirements.


Q: Can I do a credit check only on a Rent Protection application?

A: No, all applicants being put through for Rent Protection must be fully referenced. (excluding housewife/househusbands)


Q: What should I do when the policy comes up for Renewal?

A: One month before the renewal date you will receive a renewal invitation stating all policies due for renewal the following month. This invitation then needs to be signed, completed and returned.


Q: Do you charge anything if we cancel a reference?

A: If you have sent through an application and cancel it before the report has been sent back to you, you will not be charged for the referencing. Should the report have been sent back and a Rent Protection policy had been issued, so long as the tenancy had not yet started it is possible to cancel the rent protection and in this instance you would only be charged for the reference.


Q: If the applicant is unapproved, is there an instance in which we can show them the report?

A: ABSOLUTLEY NO! You must never show the applicant the report. Although there are many instances that a tenant might be unapproved, the majority of the time it is because of undisclosed adverse history. If this is the case, according to the Data Protection Act rules, if the tenant is troubled by the decision they must be directed towards the information provider:

Equifax Europe Ltd,
Department 1E,
PO Box 3001,
Glasgow.
G81 2DT

www.equifax.co.uk
0870 5 99 22 99


Q: Can we show the landlord the report?

A: Yes, it is acceptable to show the relevant landlord the report.