Tenant Referencing and Rent Guarantees
The NFRL Tenant Referencing service is provided through Rentshield Direct Ltd who are able to offer the following services to members:
CREDIT SEARCH (for professional lets) 4 hour response
| + Credit score |
+ Bankruptcy & CCJ checks |
| + Anti fraud score |
+ Same day report |
| + Residency info on undisclosed addresses |
+ Confirmation of employment or pension |
This service is offered at the rate of £15 plus VAT
With our credit searches (CS) we will advise whether a potential tenant is Low, Medium or High risk.
FULL REFERENCE SEARCH 24 hour response
| + Credit search as above |
+ Landlord / agent reference |
| + Employers reference (previous if applicable) |
+ Tenancy recommendation |
| + 24 hour response (referees permitting) |
+ Same day credit search report |
This service is offered to members at a discounted rate of £22.00 plus VAT - Normally £25.00 plus VAT
Our Full References (FCR) incorporate everything within a credit search but are far more in depth in that references from employers/landlords/accountants etc are obtained. The landlord can expect these two page reports back in 24 hours providing the application form is received by 3pm on any given day. The report will then be sent back by close of business the next day. If there is a problem for whatever reasons the landlord will be informed.
EXECUTIVE 6 OR EXECUTIVE 12 24 hour response
| + Full reference as above |
+ Rent guarantee ** |
| + Legal expenses ** |
+ Property Damage cover |
| + Renewable cover |
+ Excess equal to 1 month rent |
6 Month policy = £60 plus full reference fee per tenant / 12 month policy = £99 plus full reference fee per tenant
EXECUTIVE 6+ OR EXECUTIVE 12+ 24 hour response
| + Full reference as above |
+ Rent guarantee ** |
| + Legal expenses ** |
+ Property Damage cover |
| + Renewable cover |
+ NO EXCESS |
6 Month policy = £80 plus full reference fee per tenant / 12 month policy = £199 plus full reference fee per tenant
In addition to our credit searches and full references we can add rent and legal protection cover to the application provided that the tenant passes the referencing. This is set at a fixed fee on a 6 or 12 monthly basis and ties in with the Assured Shorthold Tenancy agreement (AST) that the tenant takes out. The Landlord MUST take out a full reference per tenant to be eligible for any of the Executive products. Within our Rent & Legal Protection policy is the following cover:-
| +Property Damage; |
+Recovering Possession; |
| +Rent Guarantee Cover; |
+Repossession of residential letting to a business; |
| +Repossession by resident landlord; |
+Eviction of squatters; |
| +Recovering rent arrears; |
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STUDENT & GUARANTOR WITH RENT & LEGAL PROTECTION INSURANCE - 12 MONTHS - 24 hour response
At Rentshield Direct we provide a bespoke insurance policy aimed specifically at Landlords letting to students. This policy includes the full referencing of both the student and guarantor. Unlike other Rent Protection Policies ours specifically covers each student independently. Therefore if one student defaults on the rent, the eviction process can begin on them, without affecting your other tenants. We cover against:
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+Loss of Rent: up to £20,000 (or equal to 12 months) |
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+Legal Costs: up to £10,000 |
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+Eviction & Repossession |
12 month rent and legal protection policy including referencing of both the student and guarantor = £50 plus VAT
** It is a provision of the Rent & Legal Protection policy that all agents must hold two forms of identification relating to each tenant - e.g. Passport; driving licence; utility bill etc.
For further information contact:
0845 070 2433
www.rentshielddirect.com
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