Property | LEM Verify

Property (HMRC)

Technology platforms such as Airbnb.com, booking.com and Homeaway.com has changed the attitude toward Short-Lets in London. Despite this, Short-Lets have largely been overlooked by Agencies thus far, due to the existing obstacles created by Long-Let administration requirements, that demand physical verifications and extensive on-boarding processes.

Compliance

Long-Lets continue to provide the vast majority of the lettings revenue for an Estate Agency, which is the reason for their lettings business being geared to service Long-Lets and not Short-Lets. By Law, Long-Lets require an extremely arduous tenant check process that can tackle up to 14 working days, which is extremely off-putting for people that are looking to Short-Let. After all, the majority of Guests will not wish to commit themselves to a lengthy verification process, when they can book accommodation within minutes on Air BNB or one of its competitor platforms.

The ID Verification Solution

The use of LEM Verify's Pay As You Go solution, provides small and large Estate Agencies the ability to offer Online Verification and complete background checks within minutes on behalf of Landlords. The Guest is able to be verified and checked providing much greater transparency and security for the Landlord. The Guest also benefits from the services, such as area advice, search assistance and property preparation from the local Estate Agency, who are keen to offer the highest level of service for their client to guarantee repeat business and recommendations.

LEM Verify removes the burden of being reliant on certified copies for document verification. They were looking for a way to reduce fraud risk and increase confidence in verification processes. Our solutions can improve efficiency, reduce risk and improve the client experience.