teclet: End of the Tenant Fee transitional period & electrical installation certificates brings lettings compliance to the fore

teclet, the lettings platform that is gaining significant take-up by agents and property managers across the rental sector has today highlighted how their platform ensures complete compliance with the increasing myriad of regulations affecting the setting up and management of tenancies.

Leading industry consultant Michael Day of Integra Property Services, who is a Non-Executive Director at teclet, says: “The need for an electrical installation certificate on all new tenancies from 1st July is both a looming compliance issue for landlords and their agents and a commercial opportunity for those who proactively handle the changes.”

“Unlike CRM and other software systems, the teclet platform provides 24/7 access to all stakeholders in the lettings process (landlords, tenants, guarantors, agents and property managers) and a tenancy cannot proceed unless all required documentation is in place – including safety certificates, prescribed information, right to rent checks, how to rent guides etc. Other systems may produce a report to say certain documentation is missing but still allow a tenancy to proceed, even if illegal.”

“This puts everyone at risk from the possibilities of prosecution and fines for non-compliance and the horrors of potentially unsafe properties being let.”

He added: “The automation that teclet provides on the lettings, renewals and management journey removes the risk of human error and, with the increases in productivity it facilitates, helps agents save costs and concentrate on increasing revenues through business generation and the sale of additional products and services. The end of the transitional period following the Tenant Fee Ban has now happened and, with the shock of the current covid-19 crisis, the need to maximise all business opportunities has never been greater.”

teclet has seamless API integration with most leading lettings industry providers, including providers of electrical installation certificates or, alternatively, an agent can work with their preferred suppliers and upload documents themselves to the system. Either way, the tenancy will only be able to move forward if the required documentation is in place.

Many agents using teclet have found that their existing portfolios have not been 100% compliant and the platform therefore has a carefully controlled configuration process that ensures existing tenancies are able to be added but that any outstanding issues or missing documentation is identified and rectification assigned within the organisation. 

Michael Day concluded: “The covid-19 crisis has brought the need for productivity to the fore and is accelerating change. Agents are rightly re-evaluating all aspects of their businesses; the old 7Ps of marketing are still relevant but there is now a new 7Ps in a 4:2:1 formation. The 4Ps of people, premises, portals and proptech leading to the 2Ps of productivity and proposition and, in turn to the key P – Profit! teclet is helping agents make positive changes to all seven. “

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