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Why perform a corporate credit risk report on new clients?

Why perform a corporate credit risk report on new clients?
Why perform a corporate credit risk report on new clients?

Corporate credit risk reports help landlords to avoid high risk tenants and monitor the financial performance of existing tenants to mitigate financial loss.

Late and non-paying customers can have a devastating effect on your business’ cash flow, and poor cash flow is one of the leading reasons businesses go bust.

Performing a corporate credit risk report on potential new tenants can help you to determine their creditworthiness to make informed business decisions.

Negative impact of non-paying tenants

Corporate tenants that pay rent late once often turn into repeat offenders as it can be a sign that they have run into financial difficulties. This can then have a knock-on effect on your business’ performance as it will negatively impact your cash flow.

Non-paying customers will also cost you dearly in time. Chasing payments is an unpleasant task that every business owner must deal with from time to time, but if you’re finding yourself chasing the same tenant every month then you’re wasting a lot of time and energy.

What information does a corporate credit risk report provide?

A corporate credit risk report gives you access to customer information and financial history to help you make smarter and more informed decisions about who to do business with.

Just some of the information it will make available to you includes:

  • Key information about the business and the people running it.
  • Business financial history.
  • Real-time credit risk rating.
  • Ongoing monitoring and alerts.

Benefits of a corporate credit risk report

Performing corporate credit risk reports and monitoring new and existing customers is a proactive way of working and managing risk. A corporate credit risk report will help you to:

  • Make smart and informed lending decisions.
  • Avoid high risk customers.
  • Check the validity of the information you are given.
  • Save time and money.
  • Protect your business’ cash flow.
  • Identify risk of rent default early on.

We provide landlord and letting agents with an invaluable company credit risk tool called DeCRA (Debtor credit risk assessment). For more information about DeCRA or to discuss your requirements, give our team a call.

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