Applications
Applications encapsulate everything related to a rental agreement. They include rental details such as:
- Move-in date
- Monthly rent
- Term of the agreement
Applications also include the Subjects (people involved in the application).
Subjects
A Subject is a person associated with an application. Subjects can be categorized into the following types:
- Applicant
- Guarantor
- Employer (Referee)
- Accountant (Referee)
- Landlord (Referee)
Applicants and Guarantors are assessed through referencing checks, which result in a final determination of their suitability for the rental property. Employers, Accountants, and Landlords serve as supplementary referees, providing references to help assess the suitability of Applicants and Guarantors.
Rental Details
Rental Details are tied to Subjects and contain information about how the tenancy cost is divided among Applicants and Guarantors. They also inform how Goodlord assesses income affordability.
Price Share
The Price Share represents the monthly rental amount that a Subject is responsible for.
Example 1: Equal Division
Tenancy Cost Per Month: £1000
Tenant A Price Share: £500
Tenant B Price Share: £500
Total: £1000
Example 2: Unequal Division
Tenancy Cost Per Month: £1000
Tenant A Price Share: £900
Tenant B Price Share: £100
Total: £1000
In the latter example, the affordability requirement is higher for Tenant A but lower for Tenant B.
Affordability Ratio
The Affordability Ratio is a multiplier used by Goodlord to determine if users can afford a property.
Example:
Price Share per month: £1000
Affordability Ratio: 2.5
Calculation: £1000 * 12 months * 2.5 AR = £30,000 required income
Goodlord recommends an Affordability Ratio of 2.5 for Applicants and 3 for Guarantors, but this can be adjusted as needed.
Attached Subjects
Attached Subjects refer to the relationship between one Subject and another related Subject. For instance, a Guarantor is linked to the Applicant they are guaranteeing. Similarly, Applicants and Guarantors can be linked to referees like Employers, Accountants, and Landlords.
Context
Context encapsulates all the information gathered from users, including Documents, Incomes, Address History, and Identity Information.
Product
Each new Subject has an associated Product. Products vary in the questions asked, assessment methods, and prioritization by the referencing team. The available products are:
- Essential: Identity and credit checks only. No income/affordability or residential checks.
- Pro: Comprehensive checks including identity, credit, residential, and income. Recommended as a starting point.
- Priority: Includes everything in the Pro product plus daily phone calls to Applicants, ensuring prompt responses to the referencing team.
Documents
Documents reside in Context and include files collected from users or generated through the referencing process. This can include:
- Identity Documents: Passports, Driving Licences, Identity Cards
- Residential Documents: Tenancy Agreements, Bank Statements showing rental payments
- Income Documents: Payslips, Bank Statements showing income, other income documents
The Reference Report is also stored here, providing a visual summary of the collected information and Goodlord's decision on suitability.
Addresses
Addresses in Context represent the address history collected from users, covering up to 3 years. The types of addresses include:
- Current: The Applicant's current address
- Previous: The Applicant's previous address
- Financially Associated: A previous address not necessarily within the last 3 years
- Forwarding: An address to reach the Applicant after the proposed tenancy ends (only for Applicant Subjects)
Milestones
Milestones are records of significant events related to a Subject, such as:
- Creation of the Subject
- Start and completion of the referencing journey
- Final decision on the Subject
Milestones help track the progress of users through the referencing process.
Outcome
Applicable to Tenants and Guarantor Subject types, the Outcome object provides high-level information on rental suitability and the success of checks. A typical outcome object looks like:
{
"outcome": {
"status": "Accepted",
"comments": "",
"rpi": {
"eligibility": "eligible",
"comments": "rpi is eligible"
},
"sections": [
{
"name": "Identity",
"status": "Accepted"
},
{
"name": "Residential",
"status": "Accepted"
},
{
"name": "Income",
"status": "Conditional Pass"
},
{
"name": "Credit",
"status": "Accepted"
}
]
}
}
Outcome Status
The Outcome Status indicates whether Goodlord recommends an Applicant for the property or a Guarantor to guarantee it. Possible statuses include:
- Pending Submission: Awaiting submission of required information
- In Review: Information submitted; under assessment
- Awaiting Response: More information needed from the Applicant or a referee
- Accepted: Successful application; Applicant/Guarantor is suitable
- Rejected: Application failed; Applicant/Guarantor not suitable
- Cancelled: Application no longer being processed
Outcome Sections
The Outcome Sections provide a detailed breakdown of what an Applicant or Guarantor has passed or failed. Sections include:
- Identity: ID document checks, sharecode collection, selfie matching
- Residential: Address collection, landlord references
- Credit: Credit check results, adverse credit declared or found
- Income: Income checks, employer and accountant references, open banking, and payroll verification (not applicable to the Essential product)
Outcome Section Statuses
Each section has its own status, including:
- In Review: Awaiting verification by the referencing team
- Awaiting Response: More information needed to verify this section
- Accepted: Section verified; Applicant/Guarantor is valid
- Rejected: Section failed; Applicant/Guarantor is not valid
- Conditional Pass: Pass if certain conditions are met (e.g., valid guarantor required)