Rettie is working exclusively with Canopy in Scotland, which provides an improved referencing experience for prospective renters and more robust checks for landlords, relative to traditional referencing, with enhanced income verification/affordability checks and added legal/regulatory warnings, politically exposed person checks and international sanctions checks.
All applicants are invited to complete a ‘RentPassportTM’, with built-in eligibility criteria, which means they can be pre-approved prior to allocation of a home. The ‘RentPassportTM’ also enables anyone renting to add their rental payments to their credit history – providing a visible credit score (or ‘trust score’ as Canopy refer to it). Such visibility (as well as discouraging rent arrears and property damage) rewards renters and supports them in obtaining more affordable credit in the future.Through Canopy, Rettie also has the option to offer renters (subject to the applicant’s credit score or ‘trust score’, and landlord approval) the option of a ‘DepositFreeTM’ insurance policy (backed by Hiscox) as an alternative to a cash deposit. By giving renters the option of not having to find and lock away a cash security deposit for the duration of their tenancy, it can help their cashflow and they can choose to spend or save this cash on the things that matter to them.