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  • FIRST POST
    • lalalandgirl
    • By lalalandgirl 13th Apr 18, 7:30 PM
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    lalalandgirl
    Tenant referencing check: bank statements
    • #1
    • 13th Apr 18, 7:30 PM
    Tenant referencing check: bank statements 13th Apr 18 at 7:30 PM
    Hi!

    I just submitted 6 months worth of bank statements to a referencing/tenant checking company. I realized only later that my bank statements have incoming money from Airbnb in some cases. Itís not regular and all under 400 bucks each time. But Iím wondering if that will be flagged or raised by the company to the letting agent? Or do these checks happen electronically?

    Iím super nervous!

    Thanks!!
Page 1
    • HampshireH
    • By HampshireH 13th Apr 18, 7:32 PM
    • 858 Posts
    • 920 Thanks
    HampshireH
    • #2
    • 13th Apr 18, 7:32 PM
    • #2
    • 13th Apr 18, 7:32 PM
    Why did you give them 6 months of bank statements? Seems excessive and not data they need.

    Proof of income I could understand. Your outgoings I dont.
    • lalalandgirl
    • By lalalandgirl 13th Apr 18, 7:35 PM
    • 31 Posts
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    lalalandgirl
    • #3
    • 13th Apr 18, 7:35 PM
    • #3
    • 13th Apr 18, 7:35 PM
    Because it was required on the form and it wasnít letting me proceed without doing so.

    Do you think itíd be raised? It was incoming money
    • lalalandgirl
    • By lalalandgirl 13th Apr 18, 7:39 PM
    • 31 Posts
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    lalalandgirl
    • #4
    • 13th Apr 18, 7:39 PM
    • #4
    • 13th Apr 18, 7:39 PM
    And I guess proof of income was through my bank statements
    • coffeehound
    • By coffeehound 13th Apr 18, 7:47 PM
    • 1,674 Posts
    • 2,583 Thanks
    coffeehound
    • #5
    • 13th Apr 18, 7:47 PM
    • #5
    • 13th Apr 18, 7:47 PM
    Are you in the USA?
    • lalalandgirl
    • By lalalandgirl 13th Apr 18, 7:47 PM
    • 31 Posts
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    lalalandgirl
    • #6
    • 13th Apr 18, 7:47 PM
    • #6
    • 13th Apr 18, 7:47 PM
    No Iím based in the UK
    • HampshireH
    • By HampshireH 13th Apr 18, 7:50 PM
    • 858 Posts
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    HampshireH
    • #7
    • 13th Apr 18, 7:50 PM
    • #7
    • 13th Apr 18, 7:50 PM
    Hi. It just seems excessive. Proof of income would normally be a payslip.

    I don't appreciate perhaps why they need to know how much you spend on Amazon or any other purchases of choice for a rental property
    • lalalandgirl
    • By lalalandgirl 13th Apr 18, 7:51 PM
    • 31 Posts
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    lalalandgirl
    • #8
    • 13th Apr 18, 7:51 PM
    • #8
    • 13th Apr 18, 7:51 PM
    Yeah. I agree. In hindsight.

    But now the documents are with them, so Iím wondering if this is done electronically or manually and whether it will be picked up/highlighted?
    • lalalandgirl
    • By lalalandgirl 13th Apr 18, 8:11 PM
    • 31 Posts
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    lalalandgirl
    • #9
    • 13th Apr 18, 8:11 PM
    • #9
    • 13th Apr 18, 8:11 PM
    Ping! Sorry, just v nervous
    • diggingdude
    • By diggingdude 13th Apr 18, 8:15 PM
    • 365 Posts
    • 444 Thanks
    diggingdude
    Why did you give them 6 months of bank statements? Seems excessive and not data they need.

    Proof of income I could understand. Your outgoings I dont.
    Originally posted by HampshireH
    Probably because some estate agents and landlords feel they have a right to know everything including your blood type
    House Deposit - Target £20000 April 2019
    Current Savings - £10225 13121.22 £14621.22 £16021 £17296
    • shirlgirl2004
    • By shirlgirl2004 13th Apr 18, 8:17 PM
    • 2,834 Posts
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    shirlgirl2004
    It's done manually they will see it. As a landlord I view my prospective tenants' banks statements and it would flag to me that potentially you could be using my property to sublet as Airbnb.
    Last edited by shirlgirl2004; 13-04-2018 at 8:19 PM.
    • anselld
    • By anselld 13th Apr 18, 8:17 PM
    • 5,839 Posts
    • 5,557 Thanks
    anselld
    Nobody can say, but these referencing companies dont generally tend to go into much detail.

    Are we to assume that the Airbnb use was not authorised by your current Landlord? I am not sure how the referencing Co would know if it was authorised or not.
    • lalalandgirl
    • By lalalandgirl 13th Apr 18, 8:21 PM
    • 31 Posts
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    lalalandgirl
    Why would you go through it yourself if you use an external agency to do the check?
    • lalalandgirl
    • By lalalandgirl 13th Apr 18, 8:22 PM
    • 31 Posts
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    lalalandgirl
    Yeah, not authorized!

    Someone told me itís done electronically and they only care about income, and other stuff like court cases against you for money you owe etc.

    Butttttt - I assume if itís done manually Airbnb would come up and theyíd flag it
    • shirlgirl2004
    • By shirlgirl2004 13th Apr 18, 8:24 PM
    • 2,834 Posts
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    shirlgirl2004
    Why would you go through it yourself if you use an external agency to do the check?
    Originally posted by lalalandgirl
    Because it is my decision as to whether the risk is right for me. I also need to make sure it complies with the terms of my rent guarantee insurance.
    • lalalandgirl
    • By lalalandgirl 13th Apr 18, 8:25 PM
    • 31 Posts
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    lalalandgirl
    Ok - but assuming my landlord wouldnít see it - I know he doesnít want to get involved and is leaving it to the agent + reference company.
    • Slithery
    • By Slithery 13th Apr 18, 8:26 PM
    • 792 Posts
    • 1,223 Thanks
    Slithery
    Why would you go through it yourself if you use an external agency to do the check?
    Originally posted by lalalandgirl
    Because some external agencies simply collate all of the information that they have gathered on you and pass it onto the LL for a decision.

    Ok - but assuming my landlord wouldn't see it - I know he doesn't want to get involved and is leaving it to the agent + reference company.
    Originally posted by lalalandgirl
    That all depends on the company, there are many different agencies and they all have different methods. Unless you name the agency and one of the members here just happens to work for them and is willing to disclose their company policy then all of us are just guessing.

    Just chill out and wait for the answer. It's pointless worrying about things in life that you have no control over.
    Last edited by Slithery; 13-04-2018 at 8:33 PM.
    • lalalandgirl
    • By lalalandgirl 13th Apr 18, 8:29 PM
    • 31 Posts
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    lalalandgirl
    Oh I see. I know in this case, they have more of an Ďopinion.í They do flag things like court cases etc but Iím wondering if this will be flagged... or its not within the things they cover
    • shirlgirl2004
    • By shirlgirl2004 13th Apr 18, 8:31 PM
    • 2,834 Posts
    • 4,514 Thanks
    shirlgirl2004
    Ok - but assuming my landlord wouldnít see it - I know he doesnít want to get involved and is leaving it to the agent + reference company.
    Originally posted by lalalandgirl
    Yes and that's what my tenants would tell you but legally I'm responsible for checking that my tenants have the right to rent so the information is automatically sent to me and I do check it.
    • lalalandgirl
    • By lalalandgirl 13th Apr 18, 8:34 PM
    • 31 Posts
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    lalalandgirl
    Iím nervous about the answer as this means I Ďfailedí the check and wonít get my holding deposit back. Andddd they could potentially inform my current tenant, I think?
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