Anyone know how to talk to a person at open rent rather than simply email? My guarantor has failed the required income level despite having 100 times the monthly rent in savings !
Referencing doesn’t check savings….it checks income.
If you wish to override the fail and offer the tenancy based on their savings, that’s up to you. Simples.
1 Like
Does guarantor own their own home? It’s easy to move money (or spend/lose it) over the period of a tenancy you’ve guaranteed. Bit harder to get rid of a house.
Yes he does but how to include that?
1 Like
Hi @Graham9,
The purpose of referencing is to ensure that the tenants and guarantors receive enough regular income to cover the monthly rental amount, for this reason savings are not taken into account.
You can find a list of income sources we’re able to verify here.
Anything outside of this cannot be included in our referencing assessment, but you are of course welcome to request any additional or supporting documentation from the tenants and guarantors directly.
1 Like
You don’t need to include it, you need to verify that they do via a land registry check and then decide if they meet your criteria for affordability with the income that they have. I always take 3-6 months of bank statements from guarantors so I can see first-hand if they can afford to cover the property rent if the tenant defaults. Have you seen any, even for the savings account they claim to have?