Vision+ Webinar: Streamlining Tenant Referencing for Letting Agents

Vision+ Webinar: Streamlining Tenant Referencing for Letting Agents

In a recent Vision+ webinar, industry experts gathered to explore the integration of Vision+ with CRM platforms, showcasing how it simplifies tenant referencing and allows access to products to help protect letting agents and their landlords from risk. Hosted by Dave, with guest speaker Joanna Dickens, Head of Business Development at Let Alliance, the session delved into the Vision + tenant referencing system and its capabilities.

Missed the webinar? Watch it on demand >

What is Vision+ & Let Alliance tenant referencing?

Let Alliance has a bespoke proprietary platform called Vision+, which is the platform used by letting agents for them to carry out tenant referencing. This integration connects our CRM and Let Alliance’s referencing services. Automating key parts of the tenancy journey, saving you administration time.

A step-by-step guide to tenant referencing

During the webinar, Dave demonstrated the tenant referencing process, beginning with a tenant’s record in the CRM. A new feature called “Referencing Checks by Vision+” allows you to request references directly from the tenant’s profile.

From the system, you choose from a variety of services, such as basic credit checks or more comprehensive references. The system also offers bolt-ons like rent guarantee insurance and legal cover. Helping you protect landlords in the event of unpaid rent or if they wish to seek possession of the property due to a tenancy breach.

Once you submit a reference through the CRM, Vision+ takes over. The system sends a link to the tenant, prompting them to complete their information via a tenant portal. As tenants are often eager to move, responses are generally quick, allowing you to manage the process efficiently.

The system checks the tenant’s credit, verifies their identity, and assesses whether they can afford the rent. Once completed, the results appear in the tenant’s record as either “acceptable,” “acceptable with a guarantor,” or “tenancy not advised.”

Fraud prevention: A key feature

A significant highlight of the webinar was Vision+’s robust fraud prevention capabilities. Joanna Dickens explained how their partnership with Experian enhances their referencing process through what is known as Vista referencing. This involves more detailed assessments, including four critical pillars:

  1. Tenant Scorecard: This evaluates an individual’s financial history, such as adverse credit, bankruptcies or defaults on credit commitments.
  2. Identity Verification: Using Experian’s data, the system validates the tenant’s identity.
  3. Fraud Detection: AI technology scans documents like bank statements and payslips for inconsistencies, flagging any potential tampering.
  4. Income and Affordability Assessment: By reviewing bank account data through Experian or via open banking or traditional methods, the system assesses whether the tenant can afford the rent.

Using the combination of date, technology and people, Let Alliance aims to deliver you a comprehensive report in the fastest possible time.

Real-time fraud detection

Joanna shared intriguing examples of Vision+ fraud detection. In one case, a NatWest bank statement appeared genuine at first glance. However, after running it through Vision+’s AI-powered fraud checker, they system flagged several elements of the document as altered. This attention to detail helps protect you and landlords from fraudulent applications.

The role of centres of excellence

Not all applications follow the “happy path,” as Joanna noted. Some cases, such as those involving high rents, overseas tenants, or high fraud risks, are escalated to Vision+’s Centres of Excellence. These centres, located in Lincoln and Chester, manually verify complex cases, using extensive databases to flag suspicious activity and perform additional checks.

Affordability and current account turnover data

Vision+ goes beyond credit checks by analysing current account turnover data. This process verifies income stability and detects anomalies like income spikes, which may affect a tenant’s ability to meet their rental obligations.

By understanding an applicant’s disposable income, Vision+ ensures that tenants are not only able to pay their rent but can also afford their everyday expenses. This thorough analysis provides you and your landlords with peace of mind.

The fight against fraud

Joanna emphasised the importance of fraud prevention in the property industry, noting that 70% of fraud in the UK is property-related. With 150 cases detected each day, the use of advanced AI and data analysis tools proves crucial in safeguarding you and your landlords. Vision+ helps you emphasise your value to landlords, particularly in an era when private landlords are increasingly handling their own rentals.

Conclusion

Vision+ offers an innovative, comprehensive platform for tenant referencing, backed by advanced fraud detection, income verification, and a streamlined user experience. By integrating with iamproperty CRM, Vision+ allow Partner Agents to manage tenant referencing efficiently while safeguarding landlords from potential risks. The platform’s fraud prevention measures and detailed affordability checks provide an extra layer of security, making Vision+ a valuable tool and CRM integration in today’s rental market.

Want to find out more about our integration with Vision+?

Contact our CRM team at: crm.support@iamproperty.com or call: 01865 860 871

Or contact Joanna Dickens from Let Alliance at: Joanna.dickens@barbon.com or call: 07766 721 365

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