Yorlet offers a dedicated dashboard to efficiently manage the referencing process and keep all reference-related information in one place. Tenant referencing is a crucial step in assessing the suitability of prospective tenants for your property. Whether you choose an integrated referencing supplier or opt for off-platform references, Yorlet makes it easy to stay organised and monitor progress.
If your preferred referencing supplier is not integrated with Yorlet or does not support integrations, you can still track and log the progress of your references within your Yorlet account. By creating an off-platform reference, you can maintain a record of your reference process. You can store PDF files for referencing results for each tenant and assess the outcome to determine if the tenant is suitable for your property. References can be categorized as Accept, Consider, or High risk based on your results.
Whenever your referencing supplier provides referencing results, you can update the status of your referencing and upload a PDF copy of the results to the corresponding reference.
With integrated referencing, you can submit reference requests and automatically collect results within your Yorlet account. Similar to off-platform referencing, you will create a referencing record, but you won't need to manually update the results once they are finalized. The process may vary depending on the referencing supplier you work with.
Creating a reference
You can create a Reference record in Yorlet using two methods:
- From the referencing dashboard: Go to the Referencing dashboard, click New reference, choose a customer, and decide if the reference should be associated with an ongoing application. An ongoing application refers to an application that is currently in progress. Then, specify if the reference should be automatic (integrated) or off-platform. Finally, click Create reference, and a record will be added to your Yorlet account.
- When creating an application: Go to the Leasing dashboard, click New application, choose an application type, and add a customer. You will see a box with a toggle switch named Require reference. By default, the switch is turned off, so you need to switch it on to create a reference.
Once a reference record has been created, you can manage several aspects of the reference at any time. You have the flexibility to update the reference outcomes based on your assessment:
- Accept: The tenant meets the referencing criteria.
- Consider: Further evaluation is needed before making a decision (accepting an application).
- High risk: The tenant poses a potential risk and requires careful consideration.
When reviewing a reference, you have the flexibility to update the reference outcomes based on your assessment. Here's an example to illustrate this process:
- You create a reference record for a tenant and proceed with the referencing process.
- After reviewing the reference information, you find that the tenant's financial history requires further evaluation. At this stage, you can set the outcome to Consider to indicate that additional scrutiny is needed before making a final decision.
- You conduct further checks or request additional information from the tenant to gather more details about their financial situation.
- Based on the additional information received, you determine that the tenant poses a higher risk due to significant financial issues. In this case, you can update the outcome to High risk to reflect the potential risks associated with accepting the application.
- With the reference outcome set to High risk, you can carefully assess whether to proceed with the application or explore alternative options to minimise potential risks.
By updating the reference outcomes, you can accurately reflect your assessment and ensure that you make well-informed decisions about prospective tenants.
Additionally, when the outcome of your reference has been finalised, and you have a PDF reference report, you can upload and attach it to the reference record. This document will be viewable from the Yorlet Dashboard and available for download. Please note that uploading a document will replace the current one that is uploaded, so it's best to use this functionality when creating an off-platform reference.