New customer identification technology will make it easier for Estate Agents to carry out Right to Rent checks, on top of a host of other benefits, as innovations in property technology continue to be announced.
How facial recognition can help
The law now requires the identification of potential tenants to be verified and their immigration status checked, a process that can be long and difficult. Failing to do so can result in a fine or even prosecution.
Credas, a tech start-up, has invented an app that can simplify the process. It can do real-time facial recognition and verification against a tenant’s ID – whether or not they are present. A simple link means the potential tenant can complete the verification in their own time from any distance.
Cutting-edge facial recognition technology combined with a test for “liveness” means the app can find out simply if the tenant is the real holder of the document. Credas can also carry out validation against 3,000 different types of ID.
Having to see clients’ physical passports involves weeks of waiting, and is made especially difficult if someone is relocating a long away. Credas can be used remotely and stores all data in a secure cloud platform, removing this issue instantly.
Technology for good business
Real-time facial recognition is far from the only tech making things easier for Estate Agents. In 2017 RentalStep was launched, an online application that allows agents and tenants to review one another. Renters also get a “passport”, so every on-time payment is visible to agents, and even contributes to their credit score. This will allow agents to make sure potential tenants are reliable.
Property technology innovations are consistently making the work of agents cheaper and simpler, particularly as legislation becomes stricter and more complicated. It’s important to keep potential new options for a more efficient business open as your agency progresses.