April 6th saw the introduction of new rules as to how letting agents can conduct Right to Rent checks. It is vital that agents know what the changes both now and coming up in September mean for them, and how they can start adjusting to them.
What The Recent Changes Mean
It is now possible to use IDVT to verify an individual’s identity digitally for a Right to Rent check. This is designed to phase out the online adjusted checks brought in as a response to the pandemic, which will only be a valid way of conducting the ID verification process until September 30th. From the start of October, there will only be two legally valid ways of completing Right to Rent checks – through IDVT or a manual, paper-based process where documents will have to be seen alongside the applicant in person.
What Letting Agents Need to Do
While it is very easy to not think about moving to an IDVT provider, especially with the temporary adjusted checks not being eradicated until September. It is imperative that agencies begin moving towards IDVT as soon as possible, however. It may not be a straightforward process to sign up to and adjust to an IDVT provider that suits agencies, so beginning the process while temporary adjusted checks are still available is a good idea.
The Benefits of IDVT
There are plenty of benefits to IDVT for rental agencies:
- Increased security measures in place to detect fraud and errors
- It is faster in terms of turnaround time and the amount of manual work involved
- It is cheaper through increased efficiencies and minimisation of errors
September seems a long way away from now – but it is important that letting agencies begin looking at IDVT providers now – regardless of whether they use manual, paper-based processes, or temporary adjusted digital checks. It is vital that agencies take their time and select the IDVT provider that works best for them, and the pandemic has shown the technology works – there is no reason to revert back to paper-based applications.