Credit Histories - they're important!

Posted on 11/06/2010

It practically goes without saying that Clear Lets are extremely careful about who they let out your property to. But for your own peace of mind you want to go further and get a detailed credit check on your favourite prospective tenant. After all, the last thing you need is a tenant defaulting in future.

So what EXACTLY will the credit check tell you?

"Well, for a start, you'll discover whether or not they have a bad credit score," said Myra Blaik, Operations Director, Clear Group Scotland Ltd. "You can also get a Criminal Records check to determine whether or not your prospective tenant will be reliable. For instance, you don't want any damage to your property. And what about your tenant's employment? Are they the type who change jobs frequently and therefore might have difficulty paying the rent? And if so why?"

Checks tend to go back a number of years and aren't particularly expensive.

So just how do you go about arranging a check? And no - you're not being sneaky, just cautious!

Well, you could contact a Tenant Reference Agency. They tend to offer two types of checks - a quick, 'express' check within 24 hours or a more detailed, comprehensive service over a few days. There are a range of companies offering this on the internet.

Of course before you even consider a credit check with another company, consider this, do they give you a rental guarantee should the tenant fail to pay the rental due?

Anyway, we'll let you make your own mind up but remember at Clear Lets we're always happy to give advice, whether you're our client or not.