Tenant monitoring

[stairway]

I have just received a leaflet from a well known settings agent. Regarding monitoring a tenants financial situation throughout the tenancy
It reads ;
As part of our property management services, our tenant monitoring solution can help you minimise that risk.
Keeps you up-to-date on your tenants financial situation throughout the tenancy.
Prempts rental payment problems
Puts you in a better position to decide whether a tenancy renewal is in the best interests of both you and your tenant.
Gives you the necessary information to negotiate renewal terms.
Surely thus goes against peoples human rights for privacy. Surely this is a step too far even for lettings agents?

Do you have to let them or is it 'offered'?

this is surely not allowed as it is a major invasion of privacy unless they mean they do credit checks throughout the tenancy and not just at the time the tenancy is taken out. Can you find out more - I feel sorry for anyone who has to rent privately if this is par for the course.

It sounds to me to be fairly similar to a credit check, only part way through a tenancy. Surely the tenant would have to agree though, so no breaches of perceived human rights at all. You would make tenants aware at the time of signing them up that his was part of their agreement

As if tenants are not monitored enough already.

This is outrageous if it is true.

It is just a way of milking more money out of landlords by doing a cheap credit check and charging ten times the cost of it.

All sorts of clauses can be made "part of their agreement," TeaBelle. That doesn't make them acceptable, or even necessarily legal. Let's also add the "tiny matter" that letting agents often insust on a "non refundable deposit" before all the credit checking and making their terms and conditions, and contracts, available. VERY immoral!

If you are not defaulting in rent why should you be subject to regular credit checks which the letting agency will probably charge you for and why would thus benefit the tenant especially if the tenancy is not renewed because of this. Renting us precarious and expensive as it is.
No I would never use these people now but I'm worried it will become a new thing with rentals.

That's a bit naughty, isn't it?

This is true by the way.. I would like to name and shame the letting agent but I don't want this post deleted.

Can they do this? I'd not agree as a tenant, if my rent is being paid I don't think anything else is anyone's business.

They're just going to do a regular credit check. It's no big deal, anyone can do it.

What do you mean 'anyone can do it'?

A credit check? Of course not anyone can do it!

Yes they can. How do you think letting agents manage to do it in the first place? They're just looking at your experian file.

stairway, name and shame away! Also forward whatever documentation you have to shelter and your local MP. If you use twitter, there are loads of people who will happily spread the news, too! @GenRentUK and @RippedOffBritain for a start!

What's wrong with credit check to ensure that tenants can pay the rent? It put most landlords in such a nightmarish position if they don't, you can't blame them to be careful.

I doubt it's a credit check- rental checks are only public record checks anyway so they tell you very little about the potential tenants financial situation other than if they have CCJ's etc.

I'd be very interested to know what the service actually is.

Sure at the beginning of the rental but not periodically throughout if rent is paid on time. Why should tenants have mark after mark on their credit files?

If anyone is interested the agency is called chancellors. They have this new service added to their website if anyone wants to check them out. I don't know what kinds of checks they are advertising but if I'm paying my rent on time why should I have someone snooping on me and using that information to raise the rent or end the tenancy. It is the principal more than anything.

As a landlord I wouldn't use this - if my tenant has financial problems I will find out in a maximum of 30 days anyway . What do I have to gain from this? What can this random agency access that I or any other referencing bureau can't? Seems like BS.

In SW London? I know them. I didn't use them because we found good tenants with another agency and because they seemed to have an awful lot of tenant charges.

I find that intrusive and I'm a ll.

I'm pleased landlords don't seem to like it either.

A cracking way for them to make money. Absolutely no use to a ll imo. In my experience some of the tenants who'd fail the check are the ones still more likely to pay their rent. I had one who borrowed money from her parents and almost always paid her rent despite being in dire straits. The worst paying tenant I had was one who was 'skint' and couldn't pay his rent because once he paid for his car, his food (Waitrose - too many allergies to shop elsewhere (I shit you not...)), and 500 other 'vital' things he didn't have any money left.

Credit checks are pretty useless as a ll imo.

(By cracking I mean in the same way they make money with all the other stupidly pointless things agents insist are necessary)

It is Chancellors in Reading and Oxford atm but they may be rolling it out to all branches.

Most letting agents do credit checks. Experian and credit expert offer a service (an online portal they become members of) that allows them
To check anyone's report. You grant permission, but as I understand it once granted they can check you again.