An industry supplier has made the surprising claim that only 31% of letting areas are not confident their onboarding procedures can combat tenant fraud.

And the accusation has been made on the basis of a tiny survey of just 45 agents by the supplier, Propoly.

It claims on the basis of this small sample that just31% of agents are completing tenant onboarding in an average of three days or less, while 29% say the process typically takes one to two weeks and a further 31% say it takes between four and seven days. 

For 6% of respondents to this small survey, the average timeline surpasses a fortnight.

Tenant referencing was identified as the biggest source of delay, with 43% citing it as the part of the onboarding process that causes the most problems. 

Fraud is also emerging as a significant concern for agents. 

Some 31% of letting agents surveyed are “absolutely confident” that their current tenant onboarding process protects against tenancy fraud.

When asked separately about the challenges they face during onboarding, 54% of those who responded said they had concerns about tenant fraud. J

Some 29% identified preventing fraud and verifying information as their biggest onboarding challenge, while an identical proportion cited chasing tenants for the relevant information and documentation.

A Propoly spokesperson says: “Tenant onboarding has become a difficult balancing act for letting agents. 

“They need to move quickly, because delays can frustrate landlords, tenants and agents alike, but they also need to be confident that the person they are onboarding is who they say they are and that the information they’ve provided can be trusted.”

Letting Agent Today has asked Propoly to explain the tiny size of the survey.