Peterborough-based The Landlord Hub is on track to recruit a further ten full-time employees in 2015, to join the existing 38 strong team already providing tenant referencing, rent and legal protection, and tenant and landlord insurance products to their network of industry leading letting agents.
Since the business launch in 2012, The Landlord Hub’s mission has been “To give people more than they expect and to do it cheerfully” making the process of renting a new home as hassle free and as enjoyable as possible – for the letting agent, landlord and tenant. Although a relatively new business The Landlord Hub are receiving rave reviews about the service and products that they’ve created.
With The Landlord Hub’s core referencing product, Elite, not only are full comprehensive checks on income, rental history and credit run at the outset, but the tenant’s credit record is now monitored throughout the tenancy term and the landlord alerted of any changes – something that up until now hasn’t been possible with other providers. This is unique in the market and a very reassuring feature of The Landlord Hub product.
The team’s research showed that every 5 min 12 sec someone is declared insolvent or bankrupt in the UK, and over 1,900 County Court Judgements are now issued every day. The Landlord Hub are now contacting over 25% of their letting agents each month to confirm new detrimental credit information about a tenant who was previously (and in most cases, recently) referenced and given an Acceptable decision.
Heidi Shackell explained ‘Most providers in the industry describe referencing as a ‘snap-shot’ in time – but we wanted to offer more than that. Our Tenant Monitor team keep track of the tenant’s credit file for the duration of the tenancy, and alert the letting agent if anything changes – essentially it’s a free credit check every month on every tenant. We’ve seen a huge increase in the numbers of tenants entering into IVA’s or being registered with CCJ’s or Bankruptcies over the last 12 months. So we want to ensure that our letting agents have a ‘snap-shot’ that constantly updates itself – we get in touch if there is a problem, but equally we let you know if nothing has changed too so our letting agents always have the full picture’.
Tenant monitor works in a way that means that if an applicant is registered as having any new credit information on their file then The Landlord Hub contact the letting agent to provide the information.
Sometimes, the information is just good to know, there have been no problems with the tenant and they’ve paid the rent in full and on time – but in other instances, the tenant is in arrears already so knowing they have recently been registered as bankrupt or had a Count Court Judgement registered, allows the letting agent to consider all the options with all the information on the situation to hand.