Credit Reports for Landlords

Credit reports can be really useful if you’re a landlord or an aspiring landlord, not only for checking your own credit but also establishing that potential tenants are safe to let to.

In this article, you’ll learn how to run credit checks, why they are essential and more.

How to check your credit reports if you’re a landlord

You can check your credit reports for free from our credit reports hub. Here you can access free trials with two of the UK’s leading credit report providers, Checkmyfile and UKCreditRatings, gain access to your files and cancel your trial at any time.

Both of these credit report providers serve up multi-agency reports comprising data from the UK’s leading credit reference agencies, Equifax, Experian and Transunion.

UKCreditRatings is a premium option with additional features such as dark web monitoring and access to a perks portal for discounts on goods and services. You can trial both services for free with no obligation if you would like to see how they compare.

What are the benefits of this? 

Downloading your credit files is particularly useful if you need to apply for a buy-to-let mortgage to support your property investment business. Here are the main benefits:

• Identify credit issues that could impact your mortgage eligibility
• Assess how property investment has affected your credit rating
• Check if you have been a victim of fraud
• Optimise your files to improve your creditworthiness

How to run a credit check on a tenant

One option is to ask the tenant to activate a free trial on Checkmyfile or UKCreditRatings and access their credit reports themselves. They can download their reports from one of these services and send them directly to you for review and cancel the trial at any time. 

You can also perform a credit check on the tenant’s behalf but must obtain their written consent. The written statement they provide must include their signature.

They will need to provide you with the following information:

• Full name 
• Date of birth
• Address history (last 2-3 previous addresses recommended)

With this information to hand, you can access information about your tenant through the credit reference agencies, although some insist that the tenant does this themselves.

Download your credit reports today

Whether you want to order a credit check on yourself or a potential tenant, head to our credit reports hub to access free trials with our affiliate partners. This will allow you to access multi-agency reports comprising data from the main credit reference agencies.

You are welcome to try out both services to see how they compare and can cancel your trials at any time.