Tenant credit risk score

gina_a44

Yes, I had come across those links before posting. They sparked my confusion in the first place. A comprehensive report has been done which shows 0 CCJs, bankruptcies, insolvencies, no fraud warnings. Nothing.

Pixie5740

Employment reference? Previous landlord reference? Lack of either? Affordability?

gina_a44

Employment and landlord references were positive. Affordability was more than 2.5 x the annual rent. The only thing that didn’t match up was current address because they’re not on the public electoral register but they have given proof of address. I’m honestly stumped ����!♀️

Fireflyaway

A bad credit score doesn't always mean someone is risky. Could just mean they haven't borrowed before.
My credit score is rubbish. I mean really low. I've never missed a rent payment though and my household income is ok.
I'd be more concerned about their income and previous references.

Pixie5740

gina_a44 wrote: »

Employment and landlord references were positive. Affordability was more than 2.5 x the annual rent. The only thing that didn’t match up was current address because they’re not on the public electoral register but they have given proof of address. I’m honestly stumped ����!♀️

Well there you go then. Experian could not authenticate the tenant's current address and possibly not the two previous addresses either resulting in a high tenant risk score. The tenant might then have provided the 3rd party referencing company with proof of address but Experian don't know that.

Identity Check – provides you with the confidence that your prospective tenant is who they say they are. The check can authenticate a potential tenant’s current and up to two previous addresses

The sample comprehensive tenant check even uses not being able to authenticate the tenant because addresses don't match up as a factor for a high risk tenant score.

https://www.experian.co.uk/assets/background-checking/sample-reports/tenant-verifier-comprehensive-report.pdf

It does make me wonder what you are paying this 3rd party referencing company for when all they are doing is paying Experian to do the referencing and provide a risk score, something you could get yourself for £30, since they don't appear to generate their own risk score after querying an anomaly such as the address.

Pixie5740

Fireflyaway wrote: »

A bad credit score doesn't always mean someone is risky. Could just mean they haven't borrowed before.
My credit score is rubbish. I mean really low. I've never missed a rent payment though and my household income is ok.
I'd be more concerned about their income and previous references.

This is not an Experian credit score it is an Experian tenant risk score. They are not the same thing. The links I provided earlier explain what Experian use to generate the tenant risk score and the Experian credit score is not one of them.

Pixie5740

Blackpool_Saver wrote: »

So the answer is they cannot see other than public record?
I have read all that and it says they do a detailed check, but it does not define what exactly that is, is it still just CCJ's and insolvency?

The links I provided earlier tell you exactly what Experian use to generate a tenant risk score.

AdamFrankie

This is obvious that lenders and 3rd parties have different lending criteria and they have set the amount on different basis keeping in mind various aspects of property. If they are saying that they have looked at the data than that must be from some private source. And yes its the private date if they have all the criteria with their respective settlement.

General_Applause

By the time you have finished dithering over a completely pointless 'score', don't be surprised if your prospective tenants have moved in somewhere else.

gina_a44

Thanks for this. I’ve already accepted their application. I was just curious (as an earlier poster mentions) as to why I have paid a third party to generate a seemingly spurious risk score.