Tenant screening or verification has been a crucial tool in today’s growing cases of fraud and other vices. While leasing a property to an unknown individual is one of the risks landlords face, it remains on the part of property management companies to build infrastructures or solutions such as a verification tool that will offer seamless experience to users – creating understandable processes for landlords and renters.
One of such companies building Verification-as-a-Service (VaaS) solutions is Spleet Africa, a Nigerian-based proptech startup. The startup has announced the launch of its new product, Spleet Verify, a pre-authentication tool that provides stakeholders such as landlords and agents the experience to attempt digital tenant verification as well as protect data and privacy of intending customers.
“It will provide real-time detailed reports on prospective tenants to help them make informed decisions on who to rent to. This system does a thorough background check, including identity verification, fraud detection, and credit information checks, to ensure that your property is in good hands,” a statement on the social media platform of Spleet revealed.
“For landlords, Spleet Verify provides you with detailed real-time reports on prospective tenants to help you make informed decisions on who to rent to. And renters can be rest assured that their information is secure and will only be shared with their permission.”
Landlords can opt-in for different subscription packages which includes a one-time payment for ₦1,200 or choose any of Bronze (10 units for ₦9,600), Silver (15 units for ₦15,600) or Gold plan (20 units for ₦21,600). The process for tenant verification by Landlords on the platform takes 24-48 hours after which Spleet must have ensured the legal overview.
Introducing Spleet Verify, a pre-authentication tool for landlords and agents that handles the entire process from tenant data collection to verification.
Tenant verification is a crucial step in the rental process that can be time-consuming and tiresome, so we built a solution. pic.twitter.com/8oY5sKmb2a
— Spleet Africa | Pay Rent Monthly (@spleetafrica) November 7, 2022
The latest development by Spleet gears it forward to providing unique products on the African continent. Other startups offering the renter verification solution include the recently acquired Naborly, Verifast, and Rentspree – all based outside the African continent.
Founded in 2018 by Akintola Adesanmi as a solution to monthly rental payment, the proptech company has expanded to include innovations such as its financing ‘Rent Now, Pay Later’ feature. Considering the number of homeless individuals at approximately 24.4 million as of 2020, the relative expense of maintaining rent in the country is daunting. This is also due to the fact annual rental payments often sabotage income management.
In October, Spleet raised $2.6 million in its seed round making the total funding by the company over $3 million – to further accelerate its product offerings including proposed features such as: Collect (a service that automatically receives rent payments on behalf of landlords) and Verify (a tool that enables landlords and real estate agents to vet and carry out adequate background checks on tenants).