UK PropTechRentProfile, announced today the launch of Onboarding, a powerful newproduct designedto automate and streamline the set-up and management of new tenancies, powering trust andconvenience to agents, landlords and tenants during COVID-19.
Since its launch in 2016, RentProfile has been on a mission to power trust for the rental market,incorporating its unique landlord and tenant checking capabilities. Its client list includes BerkshireHathaway Homeservices, Jackson Stops and Emoov/Mashroom.RentProfile’slatest product, Onboarding, aims to support agents by eradicating the need for physicalinteractions and paperwork, reducing an average 2 weeks of admin time end to end to just 2 days, and asquick as 20 minutes.
Traditionally referred to as ‘Tenancy Progression’, Onboarding automates the stepsbetween a prospective tenant indicating they would like to rent a property and agreeing a tenancy,including:
-Tenancy Creation in less than a minute
-Agency Terms & Dynamic Referencing Criteria
-Award-Winning Referencing-twice as thorough compared to traditional referencing
-Electronic Signing of Tenancy Agreement
-Deposit & Initial Rent Payments setup
What sets Onboarding apart from existing products on the market is the way in which the process isautomated between steps, dramatically reducing the turnaround time.
For example if a tenant agrees toTerms, Referencing Criteria and pays the Holding Deposit they are automatically progressed to theReferencing stage.As tenants progress via a mobile app or web,agents can track each tenancy in thedashboard and are alerted if something requires their attention.
The conditions that COVID-19 has created mean there is an even greater need for agents to streamlinetime-consuming, repetitive processes like excessiveemails, phone calls and paperwork.Onboarding was recently recognised byVisa Inc, in this year’sVisa Everywhere Initiative PandemicChallenge, where Kim Kadlec, SVP Global Marketing at Visaannounced RentProfile as the “AudienceFavourite Winner”, describing it as “clearly a business that fulfils an unmetneed”.
RentProfile was selected out of an initial pool of 1,300 fintech startups, competing for two winning prizes (AudienceFavourite and Overall Winner).Paul Munday, CEO & Co-Founder of RentProfileadded: “With remote work and social distancing, we see ashift in proptech adoption. In taking a process that can take weeks down to just minutes, without theneed for physical meetings, emails, calls, we’re adding convenience at a time when the rental market isseeking solutions to help operate in a safer, more streamlined approach.”
