Smart KYC Solution is a step that will prevent you from welcoming the wrong tenant. Poor tenant selection is one of the challenges for Real Estate Management Companies and Portfolio Landlords. Wrong tenants are known for not paying bills as when due, engaging in illegal dealings, and always proving difficult to manage.
There are also other categories of tenants who use fake ID documents to rent apartments, all because they know that traditional checks and references are too easy to get around.
In order not to fall victim to the wrong tenants, and other classes of tenants who use fake identities to rent apartments, it is recommended that property management companies, letting agents, and local authorities deploy smart Know your Customers – KYC and Know your Tenants – KYT checks.
The number of tenants using fraudulent information to secure rental property is increasing, and using a smart technology solution can help you reduce the risk.
The need to Know your Tenant – KYT
There has been a recent increase in criminals hoping to rent and use the property for illicit purposes. There is a need to recognise fraudulent documents, and real estate companies should begin to adopt technology solutions that can smartly read and identify fake identity documents.
The Risk of Not Knowing your Tenant – KYT
The tenant who uses fraudulent details or fake ID may sublet your property illegally or illicitly, and he/she may not pay any rent at all, and indeed incur damage costs at the same time, but it can be even worse.
Have you heard of a Smart KYC Solution known as Nigeria KYC Platform?
Nigeria KYC provide powerful identity verification services for businesses and individuals in Nigeria, the platform helps prevent fraud and ensures everyone complies with the Nigerian Know Your Customer – KYC Policy.
The company is a Leader in Identity Verification Systems in Nigeria, helping businesses maintain KYC compliance, efficiently fight fraud and onboard customers.
Things you can do on the Nigeria KYC Platform
National ID Verification (NIN)
Driver’s Licence Verification
Voters card Verification
Nigeriakyc.com will help you avoid risks with new tenants. They provide KYC solutions to organisations that manage property and accommodation rentals. Their easy-to-use and tenant-friendly solutions can help you reduce the risk of leasing a property to the wrong person. Tenants can be verified online in seconds, using automated, global, best-in-class and customer-friendly solutions.
Learn about our Real Estate E-commerce Kit here
- I created bolajiafolabi.com to teach you about real estate and tech-based business opportunities. I work as a full-time partner at Globalclique, a Real Estate + Technology Consulting Company. I am also a CIO at Ibugbe and Partners, a Real Estate Marketing and Development Consulting Firm in Lagos, Nigeria.