Please can you advise?
One of my tenants has failed comprehensive referencing on their income. Their company would not supply the reference in the way open rent requested it due to their security procedures. I do have a company letter from them with details of income and full time permanent status. It’s enough to cover their share of the rent. Open rent will not accept the reference in this format for referencing. The fail means that I cannot apply for rent guarantee insurance. Open rent also advised that I might not get landlords insurance.
I’m a first time landlord and don’t want to make a mistake here.
I also had the same for a recent applicant and it was the first time I’d ever had an applicant ‘fail’ referencing. I had six months of bank statements though, so I could see enough to know that they were a safe bet financially even though technically they failed Open Rent’s affordability by a mere £11. Open Rent automate this process so the lack of a human involved meant that their system could not spot a recent change for the better in my applicant’s financial circumstances.
I feel for you regarding not being able to apply for RGI although after nearly 30 years renting property I prefer to guarantee my rent up front rather than in retrospect by doing my due diligence with each applicant. If you have any doubts about them at all, I’d say don’t offer them the tenancy.
A void is always cheaper than an eviction.