Due to recent changes in the Immigration Act 2014, the government implemented “Right to Rent” requirements across the UK in February 2016. Private landlords and letting agents, now have to check that all new tenants have the right to reside in the UK before renting out their properties. Under the new rules, landlords who fail to check a potential tenant’s immigration status can face criminal sanctions, including penalties of up to £3,000 per tenant.
The property sector is becoming an increasingly regulated market. Regulators are conducting proactive investigations and firms need to ensure they are fully compliant and exhibiting best ‘Right to Rent’ practice. Firms that cannot prove they are adhering to the rigorous regulation, will be levied with large fines that in turn can have a real and negative impact on their market reputation, also undermining the efforts made to engender customer loyalty and confidence.
The property sector is being forced to comply with and respond to recent changes in Immigration Law. Despite the increase of regulations, Landlords and letting agents still need to ensure that the customer onboarding experience is as streamlined as possible. However, due to the complexity and range of documents that need to be checked, “Right to Rent” adds an administrative burden of maintaining accurate records, which will inadvertently slows customer onboarding.
Contego simplifies and improves the customer onboarding process by taking the pain out of “Right to Rent” checks. Contego is a due diligence platform that checks people, companiesand ID documents in real-time. We work within the property sector for both leading UK estate agents and tenant referencing companies, performing detailed checks and helping them comply with Money Laundering and ‘Right to Rent’ legislation.
The Contego solution simplifies the process by:
- Checking multiple ID documents.
- Real-time checking - a simple pass, fail and refer score, results are given within 60 seconds.
- Storing all tenant checks and reports securely on Contego’s platform for a full audit trail.
- Money laundering checks on vendors and due diligence on landlords and buyers.
By working with a wide range of commercial data suppliers and law enforcement agencies, Contego is able to offer comprehensive checks on companies, people, and identity documents. The breadth of data is greater than that offered by any single data supplier, and all of the data is available in one system, delivered via a single API to provide a comprehensive, holistic view of people, companies and ID Documents, unlike any other individual provider.
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01235 375 000 or email us at email@example.com and we will be happy to assist you.