How to go through tenant referencing process?

by | Sep 26, 2022

Home $ Lofti Knowledge Base $ How to go through tenant referencing process?

Lofti currently uses Canopy to process and verify documents to do with tenant referencing. This safe and secure system allows tenants to find their credit score and financial CV through the RentPassport feature. As well as this, benefit from the clear steps on the site showing you how to set up documents to give you the right to rent in the UK.

The aim of the service is to make renting that bit easier, giving an easy way of showing your track record as a renter to letting agents and landlords all while saving you money with the best deals. Setting yourself up as a renter and building your credit score.

Why is Canopy important?

Usually, if you were to attempt to rent somewhere, you would have to go through the referencing process with an agent. However, if you were to do this on Canopy, it would be a lot more efficient. Simply submit your ID, where you want to rent and submit your credit to do this all in one place.

On top of this, if you have any issues, support will be back and forth quickly to verify your documents. To read more about the company and how they work click here.

canopy used for renting

What services do Canopy provide for tenants?

Some of the services that you can get from Canopy include the RentPassport feature. This works by verifying your income by connecting your bank and getting an instant figure for how much rent you can afford.

After this, RentPassport will allow you to view your credit history by entering some simple personal details and then link up past rent payments so that you can.

CanopyGrow is a series of credit building tools that are there to build your credit score. This allows you to convert the monthly payments you have into credit points that will help you with renting and other ventures in the future.

What services do Canopy provide for landlords?

Renting to tenants can be risky. However, with Canopy you can protect yourself from missed payments with rent and legal protection.

Landlord insurance is another service provided by Canopy. There are real risks for any property. For instance, your property could be damaged physically and Canopy partners with Alan Boswell Group in order to protect your investment.

Management fee protection insurance is important in challenging marketing conditions. This is because in these times tenant issues may occur and if you don’t have rent guarantee insurance, management fee protection insurance can be a cheaper alternative to reduce the amount of risk you’re taking on.