According to  a referencing firm they have reported that there is a significant increase of tenants being accepted for tenancies. This year has seen 74% (so far) of tenancy references being passed compared to 68% last year.

 The firm also said that last year 25% of applications were accepted only after a guarantor had been included in the references, whereas this year it is down to 20%.

 

The increasing trend backs up the fact more and more people although employed, just cannot afford the deposits required to get on the mortgage ladder and it seems to suggest that a large percentage of applicants are newly employed professionals.

Reasons that a tenant application is turned down are because of falsifying earnings, do not supply an employer reference and of course bad credit history coupled with failure of a previous landlord providing a satisfactory reference.

Sim Sekhon of the referencing firm said: “This development is great news for landlords and agents who can cherry-pick the best tenants.”

P.I.M.S.co.uk, agrees that the market is right for landlords and  lettings agents to able to separate the wheat from the chaff and can indeed select the strongest applicants. Though there will always be cases where unscrupulous prospective tenants will be able to network an irrefutable set of references to "hoodwink" most people and companies.