FAQs: RentPassport® – Canopy

What is a Canopy RentPassport®?

Canopy RentPassport® is a renter's digital rental history.

Letting agents and landlords need to verify a renter's suitability for the property they have applied for. This includes verifying renters' employment and income and ensuring that the applicant is able to meet their rental payments. Instant verification will speed up the rental application process for renters, agents and landlords.

Renters are also able to access a range of affordable, ethical and fair financial wellness products such as CanopyGrow™ financial tools and RentTracking.

For more information on our financial tools see here.

How does it work?

We use Experian and Open Banking to help renters build their portable rental history.

Experian based checks (Processing time: 1min-5min)

Identity
3 Years Address history
Soft credit check
Adverse Financial History (CCJs, IVA and Bankruptcy)

Open Banking (Processing time: 5mins, subject to successfully connecting with your bank)

Income Verification
Rental Affordability (How much you can spend on rent based on annual gross income)
Rental Payments Verification, if you have previously rented in the U.K

Manual Income verification (Processing time: max 48hrs)

You will have to prove your income with documents. Verifying different income sources
- Self-employed. Verifying Income: Self Employment

For more information please see What is Open Banking? and Credit check

What is the cost of a Canopy RentPassport® based tenant referencing?

There is no cost to the renter.

Our Open Banking and Experian digital referencing checks are FREE for agents and landlords. Canopy charges the agent/ landlord for comprehensive Employment and Landlord references.

How can I get a Canopy RentPassport®?

You can download the Canopy app from the app store or go online and create an account.

To sign up through our website please select the below link https://app.canopy.rent/welcome

Will a credit check hurt a renter's credit score?

No.

When a Renter conducts their credit check through Canopy, they are performing what is called a soft credit check. This credit inquiry should not impact credit.

How can I instantly verify income?

Simply follow our Open Banking based income verification process and they will be able to verify their income in minutes.

Verify your income with Open Banking

What happens if I have a county court judgment (CCJ)/ invalid voluntary arrangement (IVA) in the proceeding 5 years?

Tenant screening applications might flag CCJs or Insolvencies. A CCJ can remain on a renters credit report for up to 6 years after it is satisfied. We reflect the information held by Experian and unfortunately, we cannot change this data.

Letting Agents and or Landlords may accept renters with active or satisfied CCJs, or declare bankruptcy but this decision lies with them and the landlords.

Can my company act as a guarantor?

If your employer is willing to act as a guarantor for your tenancy application, you will need to discuss this directly with your landlord/agent to confirm if they are willing to accept this.

We are not able to support this process within the app but we can provide a company credit check upon request by your landlord/ agent. They must contain their account manager in order to obtain a company credit check.