If the tenants have failed the reference checks, you will be given a recommended action based on the results.
If a tenant fails referencing, it is because they do not meet the criteria on their own. They may still be able to proceed with a guarantor. If they cannot provide a guarantor, landlords on the Basic plan can still proceed at their own risk, but landlords on the Essential or Complete plan must have tenants who have passed referencing or have a guarantor.
If a tenant fails referencing due to providing false information at the application stage, the holding deposit will be kept to cover the costs.