The software company behind a new product claim it helps agents comply with The Property Ombudsman’s code of practice on referencing - an issue which was highlighted as a problem in the recent TPO annual report.
Van Mildert’s Compliance Shield claims to create an indelible audit trail to demonstrate that a letting agent has complied with Section 10g of TPO code of practice.
“It’s vital for us that we are transparent with our landlords about the tenants who are renting their property. The shield feature ... is a huge part of this and helps us to add value to the service we provide to our landlords. The feature has reduced administration in our offices and has increased our ability to demonstrate compliance with TPO code of practice across our lettings portfolio” says Richard Durrant of LSLi brand Intercounty, in a testimonial sent out by the product manufacturers.
It works like this: on completion of referencing an email is sent to the landlord, co-branded from Van Mildert and the letting agency, with a bespoke introduction from the letting agent thanking the landlord for their business and setting out obligations under the code of practice.
The landlord is then able to click through the email and view some information which Van Mildert has collated about the tenant, purchase a rental guarantee policy if they wish and then digitally sign to say that they have understood the referencing information and that they agree to moving forward with the tenant.
This creates a time stamped audit trail demonstrating that the landlord has proactively agreed to the level of referencing and was happy with the results.