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Proptech

Platform launches anti-fraud ‘in-house’ referencing tech for agents

The Lettings Hub says agents can now complete tenant referencing themselves without the fear of 'going it alone'.

Nigel Lewis

referencing tenants

Proptech platform The Lettings Hub has launched a service that enables letting agents to complete their own referencing checks on tenants without the need to use a third party.

The ‘in-house referencing’ capability is available via the firm’s BOX platform, which it says makes The Lettings Hub the only provider in the market to offer all core referencing solutions under one roof.

These include both software for letting agents doing their own reference checks, a ‘tenant passport’ referencing capability, as well as traditional referencing.

Many agents are keen to complete tenant references in-house because it reduces delays and costs within the fast-moving lettings market, but many are nervous about ‘going it alone’.

Scams

This is because many prospective tenants are either keen to hide previous poor behaviour, rent arrears or are simply seeking to defraud landlords via sub-letting and other scams.

Consequently, the platform incorporates Open Banking technology which eliminates the risk of fraudulent bank statements as applicants can be asked to securely share their financial data directly from their online bank account to the BOX platform.

BOX also guides agents step-by-step on what to look out for depending on the type and format of reference they have received, whether that’s documents or a written or verbal reference from a referee.

amaniel ghile referencingAmaniel Ghile (pictured), Director of Prime Choice Properties, who is already a customer, says: “Doing our own using the BOX platform works well for our business; it’s flexible, we are in control, and the tech is seamless. We’re saving money, and both we, and our clients, benefit from all the other integrated products and services.”

Read more about referencing.

April 7, 2022

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