A new service has launched that references and credit checks prospective renters before property viewings. It then matches these tenants with suitable homes uploaded to the website by member letting agents.
Tenants Plus says the site improves efficiency and cuts costs for agents during the renting process.
The service also benefits tenants, as they will not lose holding deposits paid after viewings due to their references failing.
Tenants and guarantors must pay £17 + VAT upfront for a reference and before they can see the available properties or go on viewings.
Founder of Tenants Plus, Wayne Treveil, has previously worked at Acorn, Square Mile Property Management and the Happy Tenant Co.
He explains the new idea: “No system was available in the market that helped prevent letting transactions falling through due to failed referencing.
“After spending 15 years working in the lettings and property management industry, and being concerned about this situation, I have developed a service that provides the solution.
“Currently, referencing and credit checks are carried out after a viewing has taken place and an offer made. At this point, the tenant has paid a holding deposit to secure the property as well as administrative and referencing fees that are generally non-refundable.
“If the tenant fails the referencing there are significant delays and cost implications for the letting agent.”
Tenants Plus notifies agents of pre-referenced tenants before viewings take place and match them to the agents’ available properties.
Treveil adds: “If an agent has an offer from a Tenants Plus tenant, it’s money in the bank.”1
He emphasises that Tenants Plus is not a property portal. The only people that can see available homes are active renters who have registered to find a property through the service.
He says the website already markets over 1,500 rental properties and receives new agent registrations every day.
Agents must create an account to set up a company profile. Then, they can either manually upload properties or use an automated data feed.
At this point, they are ready to receive pre-referenced tenant leads from renters that have already been matched to their properties.
Agents are not charged for tenant leads, but must pay to access the tenant’s report and associated documents.
Take a look at the website here: http://www.tenantsplus.co.uk