References for lease or bank?

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jodipodi

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Hello everyone, Id really appreciate some advice from those who have leased premises and/or went for loans from the bank....when they ask for references who and what exactly are they looking for-personal/financial ?... Some ideas on this would help me out alot, Im hoping my business advisor could provide one for me but not sure what theyd be looking for in a referee xxx:confused: (please move this if it'd be better off in another forum thanks) xx
 
What they are looking is proof that you are trustworthy person, so any references you have that prove this are useful. Ideally for renting they want one that is from an other rental property, but basically they generally won't know you from adam so just want some reassurance that you are a good risk. I have used other business contacts that know me, my personal bank, my letting agent and personal friends that are in business to provide references for me in the past.
 
Oh thats good thanks Andy. So do you think my business advisor would be a good one? She runs her own business and we've become really good friends over the last year-she helps keeps my feet on the ground.
Luckily enough I dont need a loan so Im ok on that front but may need references for leasing. Apart from the bank can you suggest anyone else that would be considered suitable? xxx
 
Oh thats good thanks Andy. So do you think my business advisor would be a good one? She runs her own business and we've become really good friends over the last year-she helps keeps my feet on the ground.
Luckily enough I dont need a loan so Im ok on that front but may need references for leasing. Apart from the bank can you suggest anyone else that would be considered suitable? xxx

Whoever you buy your supplies from would be a good idea!
 
I would suggest anyone that has had to put trust in you, whether it be business advisors, ex employers anyone you know with a standing in the community - police etc. I have just done some leasing and they never asked for any references at all, i do have a good credit rating but they never asked for a single reference.

I have property i rent out and ask for references and it about trying to ensure that the person is reputable. It is not an exact science and it is about the impression you create. When you are talking to anyone you will rent/lease from have a good business plan which i have seen you are trying to create, be positive and firm in your views on your business. All they are interested in is getting their money paid so you just need them to believe they will get their money so create the right impression that you are professional and a good risk and you will be fine.
 
Thanks Andy and Fiona, right well got the first one sorted. I get my supplies from Creative and Tantrick dont really think I can ask them for a reference ?... Think I could get some from tutors at college. Thanks guys at least I know what Im looking for now xx
 
why can't you ask tantrick or creative ? You don't need to ask for a reference off a trade supplier all you need do is tell whoever wants a reference these are people you trade with, and these are their details. All they will then do is write to them and ask how long have you traded with them, how much do you spend and do you pay your bills on time - that is all a trade reference is. Your bank reference is even less - usually contains this line : We do not believe 'x' woudl enter into a commitment they could not fulfill.

Personal references from people you know will be longer and more in depth perhaps, but a trade reference is showing how you trade and cannot say much more than above, while a personal reference has a much wider range of things to include.

As said before they are only after a view on you, renting property to people is always a risk and even people with the best references are not always reliable. You only need to worry if you can't get an acceptable bank reference. Even if you can't get a good reference you can always put up a bigger deposit against default, not ideal but gets you round it and then your trading history will help you.
 
Now you put it like that yeah I could get one from them. Wish I could get one from my credit cards lol Ive spent hundreds with them!
 

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