New tenant’s passport goes live in wake of fees ban

A new tenant’s passport app has gone live in the wake of the fees ban.

MyHomePassport claims to be different because instead of having a defined shelf life, it can be updated with live information as soon as it’s needed.

The ‘live Updater’ feature has been trademarked.

It also uses data from three credit agencies.

Tenant applicants can invite their referees to log in to a secure section that uniquely verifies their ID, before they provide testimonials, to ensure that authentic references are provided.

The renter can also use the app to verify that the landlord actually owns the property, to avoid sub-letting scams.

CEO Christopher Ford said that the app has been in prototype since 2016, but has only gone live since the tenancy fees ban this month.

Under the ban, tenants cannot be forced to buy tenants’ passports but the legislation states that “tenants may obtain their own credit reports from a third party”.

The new MyHomePassport costs £20 plus VAT, which Ford claims is much better value than its competitors. The package includes two live updates and a fully vetted guarantor if required.

He said: “We are marketing to renters who know they are responsible and want to get ahead in a competitive market.

“They do not cost agents or landlords any time or vetting costs so that they can be fast-tracked like a ‘speedy boarder’ in budget airline parlance.

“Letting agents are displaying ‘ MyHomePassport welcome here’ window stickers: the ban means they cannot insist renters use us but they can welcome them.”

www.myhomepassport.com

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24 Comments

  1. LetItGo

    Tenants own referencing is never going to work, its like providing a your own survey to a buyer.

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    1. Scottish_Mist42

      Just what we have in Scotland – the Home Report – paid for by the seller.

      With England & Wales following Scotland’s lead with the tenant fee ban and likely removal of section 21….it would not surprise me to see this next!

       

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  2. drcjford@gmail.com

    I am afraid you are very much mistaken there. You obviously don’t understand it.

    MyHomePassport obtains live data from all three credit agencies and LexisNexis , the world largest ID/ Antifraud organisation – tenants who use this system are more highly qualified than any other existing referencing system. The information in the reports and references is highly credible with a much higher level of security. Data / reports can not be tampered with and as the tenants control who has access to it, it is very GDPR compliant. MHP is unique as the credit data is never out of date.

    Your comment is based on ignorance and presumption. Have a look at the website to really understand how it will improve the vetting process.

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    1. Woodentop

      Always looking for a way to help streamline referencing and may be of some use, but your service is a very small cog in the big engine of conducting a tenants referencing with due care and diligence. It is not the only thing that needs to be done, so I do raise issue with your claims as inaccurate and misleading to tenants: It does not prove they are a responsible renter, trustworthy or fully prequalified. It does confirm that they gain advantage and risk to a landlord, over a tenant that has been referenced properly.   Any landlord or agent or tenant who thinks you have done ALL the job for them is going to be seriously at risk. Are you really a tenant referencing company or a credit worthy checks?
       
       
      MyHomePassport demonstrates your value as a responsible renter: You are trustworthy and fully prequalified.You save time, costs and risks.You gain advantages.

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      1. drcjford@gmail.com

        ‘It does not prove they are a responsible renter, trustworthy or fully prequalified’
        Actually, it does -as far as anyone can demonstrate these things but there are features that go well beyond most vetting processes.
        We spent a huge amount of time and resources ensuring our system at least matched industry standard.
        Thank you

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        1. Woodentop

          I beg to disagree on “proving”, at best just like the others, it provides information as best you can for the agent or landlord to make an informed decision. This may seem like nick picking but is very relevant when it comes down to liability … and who’s, yours or ours.

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          1. drcjford@gmail.com

            yes, absolutely agree however -Proof, is evidence and evidence is provided wherever it can be, legally compliant testimonies from landlords and neighbours is one example. MHP provides agents with more verified information than they had previously but, like the information you already source, of course the final decision rests with the agent or landlord – only a complete set of verified information  enables the MHP renter to actually use the system.

            Most agents we speak to see it as a win/win.

             

            Thank you

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  3. DarrelKwong43

    (a) an agent should confirm ownership before even advertising a property – so a tenant should ask to see permission to let

    (b) most applicant already have access to their credit report for free

    (c) on the anti fraud system, where is that info drawn from?

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    1. drcjford@gmail.com

      Hi Darrel,

      Antifraud measures come from LexisNexis data and a unique re-invention of the reference, we call it ‘dynamic referencing ‘

      MHP credit reports are much more involved with multi-credit agency information.

      A normal credit report obtained in advance will become out of date- ours does not due to the ‘liveUpdater’

      You can find out much more on the website

      Thank you

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  4. natural_selection

    Tenant passports are not the solution, and could expose agents and landlords to MORE risk not less.

    Any agent that has tried to cross sell tenants additional services in the past already knows this won’t be an easy sell without some enthusiastic ‘selling’.

    Shelter / Generation Rent will be jumping all over cases where elderly or foreign tenants have been missold by an over zealous lettings neg with targets to meet insisting they must use the service.

    At worst this could result in PPI type claims and fines against every agent that use this type of service.

    The alternative is to make it expressly clear they do not need to use this service and can source their own reference for free, can you imagine the logistical and admin chaos of tenants picking and choosing what reference companies they want to use and how that might affect my landlord rent guarantees! No thanks!

    If you can’t justify to your landlords why you’ve added £15 to their bill to reference the tenant I would suggest you be more concerned by your local competitors who do have sales ability.

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    1. drcjford@gmail.com

      You do not need to cross sell and we are different to other rental passports.

      Agents that understand MHP are very supportive and are welcoming MHP tenants.

      Thank you

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      1. FUDGE53

        So how do you create that perfect storm?  An MHP tenant going to an MHP Agent seems to be a very narrow path.

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        1. drcjford@gmail.com

          Hi – there is no such thing as a MHP agent
          Thank you

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          1. natural_selection

            Oh dear, I hope you haven’t invested too much time and money in this service then. If you’re saying this is designed for agents that have no firm procedures in place for the professional vetting of suitable applicants and do not encourage their applicants to use it, then you might be in trouble my friend.

            The cold truth is, there have been a number of ‘tenant passport’ type services out for a few years now, if they ever had a chance of succeeding, it was BEFORE the tenant fee ban, not after.

            In the words of the great Donald himself – ‘Sounds good, doesn’t work’

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            1. drcjford@gmail.com

              ‘ If you’re saying this is designed for agents that have no firm procedures in place for the professional vetting of suitable applicants and do not encourage their applicants to use it, ‘
              Hello
              I don’t know where you are getting this notion from – my friend.
              It doesn’t really make sense- why woulld we say that?
              More incorrect assumptions 
              There is no need to feel threatened
              MHP will be a great help for those who use and understand it.
              Thank you 

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  5. FUDGE53

     

    Data from 3 Credit Reference Agencies and Lexis Nexis – That sounds great.

     

    Sorry won’t work.

     
    1.   How are you going to attract tenants and better still get them to pay when it is now free if they go through an Agent?
     
    2.   How do you guarantee to a tenant that your Passport will be accepted by a Letting Agent?  The largest 50 Agents in the country probably use 20 different referencing companies.  If one of your referenced applicants turns up the likelihood is that they will be referenced again.  How do you plan to combat this?
     

    The need to be referenced and at what level etc… is driven by the Agent dealing with the particular property the applicant is interested in.  A tenant does not sit there ahead of time thinking I will go and ‘build’ my own reference report for when I next apply for a property.

     

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    1. drcjford@gmail.com

      Hello,
      The information a tenant accesses securely via our system includes much more than a credit check – it is a highly credible system that offers wider sets of data that previously provided by referencing companies.
      This is for renters who choose to pay to be pre-qualified and offers them the opportunity to be in control of their own data.
      Until you fully understand how this works, you will make presumptions that are not realistic.
      This is not designed to replace any vetting system agents choose to use- it can happily run alongside but it will free up their time, costs and risks.
      Thank you

      Report
  6. drcjford@gmail.com

    Hello,

    The information a tenant accesses securely via our system includes much more than a credit check – it is a highly credible system that offers wider sets of data that previously provided by referencing companies.

    This is for renters who choose to pay to be pre-qualified and offers them the opportunity to be in control of their own data.

    Until you fully understand how this works, you will make presumptions that are not realistic.

    This is not designed to replace any vetting system agents choose to use- it can happily run alongside but it will free up their time, costs and risks.

    Thank you

    Report
    1. Woodentop

      I think you may have run into a wall with some agents, even though you have a good idea and some merits. Two issues however remain from an agents perspective.  
       
      1. Will the agents use the passport as ultimately they need to trust the passports data is accurate at the time it is needed by them and actually covers what? All references or credit worthiness. There is more to referencing than just the paperwork.  
       
      2. They carry the liability of using third party data that turns out to be wayward. This for agents is a big issue. Unless there are guarantees, redress available and confidence, agents will ignore the passport and do it all again. Some will then jump on the bandwagon that the tenant has paid for something that no-one (some!!) serves no purpose.  
       
      Certainly a passport tenant should be an advantage to “assisting” an agent, in deciding who to reference first when, for example there are multiple applicants but it should be made clear to the tenant that unless you guarantee the data, the agent will take up its own  references and is no guarantee as it read on your website this morning: You are trustworthy and fully prequalified. You save time, costs and risks. You gain advantages.
       
      It could be seen of use to tenants who want to know are they wasting a landlords time applying, but that has issues as to not knowing what the landlord wants from that individual tenant.
       
      I hope I have given you some constructive food for thought, to do with as you please in achieving your goals.

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      1. drcjford@gmail.com

        Thank you for your insights. There is more to it than you think – it is not only a report of data. The referencing system is watertight with stringent ID verification and the references are legally compliant documents – so very useful. All our information is from credit agencies and LexisNexis so it is no less guaranteed than any other credit/ Id report – however it includes more information relating to fraud risk such as ID theft and document forgery. Plus the financial data is obtained live- in real time. So it is verified exactly where and when you need it – to the minute.Agents we speak to are more than happy with the quality and reliability of data as we use systems that operate at a higher security level. Thank you again 

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  7. GKG

    Interesting product, and I can see some features with merit. But how do you ensure that those providing the ‘testimonials’ are genuine, couldn’t a tenant just add anyone?

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    1. drcjford@gmail.com

      Hello,

      There are three levels of ID verification in the process that cross reference – name, dob, address, gender, phone numbers, email from UK and worldwide databases – they can not be tampered with and are legally compliant testimonies.

      They are also very user friendly

      It is a complete digital re-invention of a process that is otherwise flawed -designed to prevent the fraudulent or false positive references currently obtained

      Thank you

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      1. GKG

        That sounds impressive, but why would someone providing a testimonial be prepared to go through ID verification against worldwide databases?

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        1. drcjford@gmail.com

          Hello,

          It is only an ID check, nothing big brother or sinister – no credit file data and footprints – private referees will understand that their reference needs to be valid and credible- we do not see there being a problem, it is for personal references, neighbours or private landlords willing to vouch for the tenant.

          Thank you

           

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