Real Estate Investor Magazine South Africa October 2014 | Page 31
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PayProp’s new tenant assessment report
PayProp, SA’s largest processor of rental payments for
the residential letting industry announced the launch
of the PayProp Tenant Assessment Report. CEO
Louw Liebenberg says that the report offers a far more
comprehensive assessment of a potential tenant than a
standard credit check.
“It is increasingly clear that credit checks alone are
not adequate to fully understand the extent of nonpayment risk that a new tenant presents. It’s important
that estate agencies and landlords seek more forwardlooking indicators of affordability, to better anticipate
if a tenant will be able to pay in future or not,” says
Liebenberg. The PayProp Tenant Assessment Report
lists all prior credit behaviour information as well as
provides an all-encompassing look at a tenant’s current
level of debt relative to income and the rental value
applied to form a comprehensive view of a tenant’s
level of non-payment risk.
Liebenberg adds that a Tenant Assessment Report
can only be conducted with the consent of the
tenant. “Securing total piece of mind when it comes
to rental transactions is vital to ensure a harmonious
relationship with a new tenant.” Furthermore, PayProp
keeps a detailed audit trail of exactly which system user
requested a report – with each report request time and
date stamped so that an exact trace of every request
exists.
Revolutionary RentReport from TPN
Tenant Profile Network (TPN) has released a userfriendly RentReport tool, collating real-time suburbspecific demographics and data - and giving it a rental
component, a first for South Africa.
Based on all of TPN’s current information
databases - including TPN’s RentBook, RentBay
and credit bureau data, suburb demographics from
Stats SA, population census and General Household
Surveys - RentReport collates crucial suburb resident
www.reimag.co.za
demographics, distinguishes between property types
and details rental percentages of those property
categories as well as rental prices in that area. Says
Michelle Dickens, MD of TPN: “For example, the
most important demographic from a buy-to-let
perspective is how many properties within an area are
rental properties. This can indicate the kinds of volume
of tenants looking to rent in that area. Details of the
income of each household enables buy-to-let investors
to derive the affordability of rental prices in that area
based on 30% of income.” The report also indicates the
good standing level of tenants, allowing users to analyse
this performance against the national, provincial and
other local averages.”
The RentReport tool is available to all registered
TPN members through the TPN website.
Experian and TPN collate credit and rental data
A partnership between Experian and TPN, the largest
rental bureau in South Africa specialising in vetting
tenants for rental properties, will ensure that tenants
who pay their monthly rent on time will see their
positive payment behaviour being made accessible to
participating credit providers, to enable them to qualify
for appropriate new leases or other financial products.
This unique partnership offers a secure and compliant
way to include a tenant’s payment history in their
respective reports, strengthening their credit history
and helping them qualify for more and lower-cost credit
deals. This enhanced view of an individual’s repayment
history will also improve the ability of lenders to treat
customers fairly with more accurate lending decisions
based on a deeper understand