All buy-to-let landlords and letting agents are being offered a comprehensive tenant screening service absolutely free of charge by Canopy.
Available with immediate effect, the FinTech firm’s offer to both existing and new clients is available during the COVID-19 pandemic.
Canopy's instant tenant screening service, powered by Experian and Open Banking Data, is already free.
For comprehensive referencing, covering employment and landlord references, Canopy charges £3 per reference, which the company is waiving for both current and potential clients, given the difficult market conditions.
Landlords and letting agents can sign-up with Canopy and access the free tenant referencing service until 30 June 2020, but there is a catch.
New clients are required to sign up to a standard 18-month contract in order to qualify for Canopy’s offer.
But it is worth pointing out that landlords and letting agents can cancel the contract at any time, by giving three months’ notice, if they are unhappy with the referencing product and, or the Canopy service.
Tahir Farooqui, founder and CEO of Canopy, said: “Letting agents and landlords have been hard hit by a wave of regulatory changes and the impending slowdown in economy, triggered by COVID-19. This could be the tipping point for some agents and landlords, who are faced with rising costs whilst having to adjust to a new economic reality.
“Many letting agents and landlords will be looking at ways of cuttings costs and our free tenant referencing will bring big savings.
“This is a moment to shift from selling to supporting the lettings agents, landlords and tenants to the best of our ability. These moments call for an act of solidarity and a real sense of community.
“We are ready to support letting agents and landlords by offering free tenant screening service until the end of June 2020. Given the technology nature of our business, we are in a strong position to serve letting agents and landlord and do not expect the corona virus to have any impact on our services. Our customers can expect the same level of service and full engagement from our teams.
“Tenants can complete their Experian credit check (soft check), as well as income and affordability checks, by simply downloading the Canopy app on either Apple (iOS), or Android stores. This would allow the letting agents, landlords and tenants to maintain social distance whilst completing the tenancy checks from the safety of their homes.
“COVID-19 is also having a profound impact on the lives and livelihood of renters. To support the tenants, we will introduce a few measures within the next 3-4 working days. Being an optimist, within a few weeks, we will all emerge smarter, with new skills. We can use this time to reflect on how we become the best versions of ourselves.”