How to run a credit check on a company?

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    How to run a credit check on a company?

    Hi
    My estate agent found a prospective tenant which is a limited company, they don't do any financial checks.
    I have got the account of last 2 years but want to a credit check.
    Who can I use to obtain credit check whether this limited company is able to pay an X amount of rent?

    Thanks

    #2
    You could always get a personal guarantee from one (or more..) of the directors. Who you can credit check the normal way (with their permission).

    So this is a commercial property? What sort (idle curiosity....)
    I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...

    Comment


      #3
      We use experian, can check anyone (with their permission) and any company (without permission) that we want. But this facility we pay for annually at cost of roughly £1500. I am sure you can probably pay to do a single check.

      Comment


        #4
        Originally posted by SouthernDave View Post
        can check anyone (with their permission)
        What is the procedure to get permission?

        Comment


          #5
          You just ask them. If they agree then you are good to go. You need permission to check an individual.

          Comment


            #6
            Originally posted by SouthernDave View Post
            You just ask them. If they agree then you are good to go. You need permission to check an individual.
            Is an email from him agreeing credit check sufficient?

            Comment


              #7
              As far as i am aware you just need written permission (to check a person)

              Comment


                #8
                I use ENDOLE to check a Limited Company.
                I would never rent a Commercial Property to a Limited Company, (I once worked for a Liquidator and arranged for seized goods to go to auction)
                One Commercial Property I rented out I had a clause put in the lease something like "If the tenant starts to trade as a Ltd Co and the Landlord receives rent from the Ltd Co the lease remains personal to the sole or joint tenant"
                In my case after two years they started trading as a Ltd Co, two years later the Ltd Co went into liquidation, and the tenants carried on trading as sold traders as they were before as the lease was in their names.
                Also if the lease is in a Ltd Co they can sell the shares and you could have a new owner who may not pass an affordability check.
                Good luck.

                Comment


                  #9
                  i would use Verify.com

                  (no connection)

                  Where the tenant is a limited company, it does not need the landlord''s consent for change of ownership as the company itself hasn't - that is, unless the lease requires the landlord's consent if the names of the shareholders and/or the officers of the company should change.

                  Comment


                    #10
                    Originally posted by Piffy View Post
                    I use ENDOLE to check a Limited Company.
                    Who would you use to check an individual if fit to pay an X amount of annual rent?
                    Thanks

                    Comment


                      #11
                      Originally posted by rentreviewspecialist View Post
                      i would use Verify.com
                      Who would you use to check an individual if fit to pay an X amount of annual rent?
                      Thanks

                      Comment


                        #12
                        "i would use Verify.com"

                        I meant https://veriphy.com

                        V also does people checks

                        Comment


                          #13
                          Originally posted by rentreviewspecialist View Post
                          "i would use Verify.com"

                          I meant https://veriphy.com

                          V also does people checks
                          I can't use them, has to be business.

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