A Sheffield-based letting agent and prop-tech entrepreneur claims that traditional tenant referencing is dead, as it uses old and slow systems, has little technology support and is grossly overpriced.

For years, letting agents have had to use traditional referencing suppliers, who provide an expensive, out-dated service. They are mostly owned by large insurance companies, who use referencing simply as a lead generator to sell insurance products. Due to this, they operate on a call centre, tick-box process and if the tenant doesn’t fit the insurance criteria, they fail.

Old school referencing has been unable to cater for the changing economy and employment trends.  More and more UK workers are now part of the gig economy – contract, temporary and freelancers. Recent stats from The Office of National Statistics, show the level of self-employment in the UK rose from 3.3 million in 2001, to 4.8 million in 2017.

Neither have these legacy reference checks been able to accommodate the growing numbers of international students coming to study in the UK. Again, stats reveal a rise of 5%* more international enrolments compared with a year ago. (*Source: International Student Statistics 2018, Study in the UK).

Simon Tillyer, Director of SheffLets and Vouch commented: “With traditional paper-based referencing, a host of potential tenants have failed the out-dated checks, set up by large insurance firms.  Many of these providers are resistant to change and have been slow to adopt emerging technologies. Furthermore, they don’t have the technology to support Right to Rent.  As a letting agent I know these systems do not work in the real world – there is no common sense approach and they fail to help agents and their landlords. To put it bluntly, their products are not fit for purpose.

“Agents have been paying upwards of £25 for a reference, which is grossly overpriced when you compare it with tech-driven references. The only reason tenant referencing has always been this expensive is because the insurance companies could get away with it.  Agents have always had tenant fees to supplement the cost, but that is all about to change. Agents can’t continue to pay the bill when there is no money coming in to cover it.

“We have developed a leading-edge, tenant referencing app to offer agents a fully automated, web-based system delivering significant cost savings, via a comprehensive, time-saving solution. Technology and applicants perform the tasks, meaning that agents simply monitor progress. Vouch creates efficiency in the tenant application process and improves business-wide productivity and profitability.

“In addition, Vouch can also help agents supplement their revenue by providing them with commission on a range of media and utility packages, which can be offered to all tenants signing new leases.  We designed Vouch to simplify the tenant application process and help agents and landlords save money and benefit from a passive income stream.”

Vouch uses the latest technology to deliver a cost-saving solution and give agents control and flexibility they actually need. With the tenant fees ban just around the corner, Vouch also offers a range of services to help bring significant income back into the business.

Vouch costs just £5 per full reference, no set up costs, no contract, no risk. Vouch is approved and accredited by ARLA

For more information, please visit or call 0330 333 7272.

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website.

You May Also Enjoy

Breaking News

Breaking Property News – 28/02/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Birchgrove and Hybr launch intergenerational living scheme A unique partnership will see students, key workers and retirees live together at new north London retirement development. Birchgrove, the UK’s leading provider of rented retirement homes, and Hybr, the UK’s leading student letting platform, today announce an industry-first…
Read More
Estate Agent Talk

Benefits Of Choosing Roger Bates Properties

Roger Bates Properties stands out as a prominent real estate agency that offers a myriad of benefits to individuals seeking to buy, sell, or invest in real estate. With a stellar reputation and a commitment to excellence, choosing Roger Bates Properties can prove to be a decision that yields numerous advantages. 1. Experience and Expertise…
Read More
Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker – 28/02/24

The average 5-year fixed mortgage rate is now 4.80%, up from 4.59% a year ago The average 2-year fixed mortgage rate is now 5.15%, up from 4.92% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.73%, up from 4.64% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.30%, up from 4.25% a year ago The average monthly mortgage payment on a…
Read More
Love or Hate Rightmove
Breaking News

Rightmove calls for stamp duty reform with only 4% of London homes exempt

Ahead of the Spring Budget on March 6th, the UK’s biggest property website Rightmove suggests three policy reforms that could help people moving home: A reform of stamp duty to consider regional property price variations: Only 4% of homes in London are stamp duty exempt for all buyers, compared to 71% in the North East Less than…
Read More
Breaking News

Breaking Property News – 27/02/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Alto reveals ‘next generation’ of Lettings Progression Alto, software for estate agents and part of Houseful, has revealed further information about the improvements being rolled out in 2024 to drive a step change in business efficiency for letting agents. Leading the way is a…
Read More
Home and Living

The Versatility of Parquet Flooring in Contemporary Homes

What comes into your mind when you hear about parquet flooring? Most probably Victorian era, historic estates, grand ballrooms, and grand mansions but what if I tell you that the parquet flooring has redefined itself with warmth, texture, and classic elegance? Parquet flooring in contemporary homes is a delight to the eyes because when you…
Read More