Tenants can now set up a standing order to agents or landlords quickly and easily using a new feature on RentProfile’s Onboarding app.

In what is though to be an industry first, the app makes use of the latest Open Banking technology to allow a standing order to be completed with just a few taps of the screen.

Onboarding is a lettings app that automates the set-up and management of new tenancies, bringing an average two weeks of tenancy admin down to two days.

The app automates the progressing of new tenancies, from agency terms, holding deposits and referencing to e-signing the tenancy agreement and auto-registration of tenancy deposits.

After eSigning the tenancy agreement and paying the deposit, the tenant is now able to set up a standing order as part of the onboarding process.

Open Banking technology

Using Open Banking technology, the tenant is directed to their bank where they can confirm the standing order – amount, frequency, and account to be paid into, with all the details pre-filled and just requiring confirmation.

For let-only tenancies, agents can request the standing order is set up to be paid into the landlord’s account.

Once the standing order has been set up by the tenant, confirmation is sent to the landlord or agent in real time.

RentProfile found the process of setting up standing orders relies on the goodwill of the tenant to do the set-up, which can be time-consuming and prone to error.

Screenshot sent to agents

App developers found some agents were requesting a screenshot from tenants to confirm the standing order set-up. With Onboarding, confirmation of the setup is sent to the agent in real time.

Matt Joyce, lettings manager at Pollard Machin Lettings said: “The standing order update has been a great addition to RentProfile’s Onboarding product.

“Allowing tenants to easily set up standing orders in just a couple of taps and getting a confirmation in real-time, has been a real game changer for us as the process is now much easier and faster than it was previously – something which both landlords and tenants certainly appreciate as well.”