We know how critical the tenant referencing process is in identifying a potential tenant. We saw that in the earlier Blog “Importance of Tenant Referencing for Letting Agents and Landlords.”
Now, the question that comes to mind is whether this process can be automated. The simple Answer is YES! Let us see how.
Thanks to rapid advancements made in the field of technology, tenant referencing these days can easily be achieved with the help of software tools. Many of them are available online, and the basic concept followed by each of the tools is to provide a common space for entities involved in this process. Using a collective tool, letting agents, landlords, and tenants can complete the referencing process quickly and efficiently. With better software tools; the easier it is to accomplish a reference in a smooth fashion.
So let us see how these tools work!
ACHIEVING TENANT REFERENCING USING ONLINE TOOLS:
- Landlord / Agent registers online with the software, by filling out their details and supplying essential details of the prospective client (i.e. the “Applicant”).
- The Applicant receives an email to start the referencing process.
- The Applicant completes additional details regarding his/her employment and past tenancy details, if any. Then on clicking “Submit,” an email is automatically generated by the system and sent to the Applicant’s employer and previous landlord.
- Simultaneously, a County Judgment Check is automatically initiated by the software to check the applicant’s credit history.
- On receiving the email, the applicant’s employer and previous landlord fill out a web form made up of a “Yes/No” questionnaire.
- After they finish submitting the details, the software establishes the “risk” of the applicant, by analyzing his Identity, creditworthiness and referencing results.
ADVANTAGES OF AUTOMATION:
- Each and every step listed above is recorded by the online software.
- The complete process – from registration to tenancy application to background checks and the “Final Report” – is available in ONE SINGLE PLACE i.e. in the online platform.
- Another point of interest is that these online tools are not platform dependent - they can be accessed on any computing device with an internet connection, e.g., desktops, laptops, mobile phones or tablets.
- Tracking the process can be done anywhere at any time.
- Though every tenant referencing software is built to achieve the same objective, it is to be noted that the software can be fully customized to suit the specific needs of Tenancy Screening companies.
So, one can clearly see the benefits that automation has brought to the tenant referencing process. This is precisely why automation has become a must have for letting agents and landlords.