Is it fair to to judge on Credit Check alone?

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    Is it fair to to judge on Credit Check alone?

    What are the forums thoughts on whether or not it is fair to judge a Tenants capability of paying rent on their Credit Check alone given the recent financial climate in the UK?

    Although it would obviously suggest that someone with poor credit is more likely to default on a payment than someone with good credit, do you think it is fair to judge on Credit Scores alone?

    #2
    Have you got a vested interest in credit checks?
    Allow tenants to protect their own deposits. I want free money when they do it wrong

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      #3
      May I point out that your company is breaching the forum rules by using your domain name as a username?

      However, that aside, a credit reference is only one, albeit important, measure of a tenants suitability / reliability.

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        #4
        Non what so ever. We carried out a survey in London last month and this was a point raised by a couple of tenants who were in the market at the moment.

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          #5
          Originally posted by thesaint View Post
          Have you got a vested interest in credit checks?
          His usename gives it away

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            #6
            Apologies, Is there a way to change it. Not on here for promotion purposes at all just to keep in the loop.

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              #7
              Originally posted by Snorkerz View Post
              His usename gives it away
              Seems a little cynical guys, really not here to promote.

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                #8
                Any cynicism comes from the hundreds that came before you using their company name to promote services etc. I can’t change your user ID by the way, but you can re-register with a different name.
                I also post as Mars_Mug when not moderating

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                  #9
                  Originally posted by Moderator2 View Post
                  Any cynicism comes from the hundreds that came before you using their company name to promote services etc. I can’t change your user ID by the way, but you can re-register with a different name.
                  Understood. I am here for information purposes only. This is a harmless thread I assure you

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                    #10
                    Originally posted by mytenantsearch View Post
                    Understood. I am here for information purposes only. This is a harmless thread I assure you
                    I am giving you the benefit of the doubt.
                    I also post as Mars_Mug when not moderating

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                      #11
                      Originally posted by mytenantsearch View Post
                      Non what so ever. We carried out a survey in London last month and this was a point raised by a couple of tenants who were in the market at the moment.
                      What point exactly?

                      Did these tenants say they thought it was "[un]fair to judge a Tenants capability of paying rent on their Credit Check alone"? How did they think LLs ought to assess a tenant's ability to pay? By their winning personalities, convincing hard luck story, etc?

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                        #12
                        It's a useful tool at your disposal, but not the bee all and end all (IMHO)

                        If you can be assured that your prospective tenants last LL is unbiased then I would ask for their references, use it in conjunction with a credit check.

                        Did I mention I'm a tenant, looking for a new place, less than perfect credit rating?

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                          #13
                          Originally posted by mytenantsearch View Post
                          Seems a little cynical guys, really not here to promote.
                          Well that's a dishonest statement, IMO.

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                            #14
                            Originally posted by mytenantsearch View Post
                            What are the forums thoughts on whether or not it is fair to judge a Tenants capability of paying rent on their Credit Check alone given the recent financial climate in the UK?
                            A person's financial wisdom also matters but can't really be documented. I don't look too good on paper now because my work hours - already part-time & term-time only - have been cut so much (recession) that my annual salary is so low that I will need to use a relative as guarantor when I move (as I plan to). However, I am financially savvy, very frugal, and not going to risk the roof over my kids' heads by missing a rental payment. Hopefully my current landlord will vouch for that, but I do worry about the Experian check even so.

                            I think you can get a sense of a person's honesty etc face to face; individual circumstances can also be a guide, up to a point, to likely behaviour. But do agencies & landlords actually use their personal judgement or experience too in assessing potential tenants' likely risk ?

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