Management
Tenant Referencing
Background checks on prospective tenants
Full Definition
Tenant referencing verifies prospective tenants' ability to pay rent and history. Standard checks include credit check, employment verification, previous landlord reference, and affordability assessment. Referencing agencies charge £20-50 per applicant. Thorough referencing significantly reduces arrears and problem tenant risk.
Related Terms
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Analyse a PropertyMore Management Terms
Letting Agent
Company managing property lettings and tenants
Void Period
Time when property is empty between tenancies
Rent Arrears
Unpaid rent owed by tenant
Guarantor
Person agreeing to cover tenant's rent if they default
Maintenance Reserve
Funds set aside for property repairs
Rent Guarantee Insurance
Insurance covering unpaid rent from tenants