Long-term tenants shouldn’t need to be referenced

Mortgage Introducer

June 6, 2018

Tenants who have been renting for years shouldn’t have to keep going through the same referencing process, the head of a PropTech startup has said.

Mike Georgeson is chief executive of RentalStep, which has created a digital rental history, including property, employment and reference information, which can be shared with landlords and letting agents.

He said: “With many tenants now renting privately for 10 years or longer, they have the opportunity to build up a comprehensive rental history.

“It therefore seems logical that all this information is stored in one central place and that tenants and landlords don’t have to undertake a lengthy, admin-heavy and sometimes expensive traditional referencing process every time someone wants to move home.

“If tenants are renting for the long-term but moving around frequently to experience different locations, there shouldn’t be a need for them to constantly resubmit the same information.”

Housing Secretary James Brokenshire has announced that the government will soon be consulting on options to support landlords who want to offer longer tenancies.

A third of tenants have rented for over six years, research from Your Move shows.

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