NVM Woontoets to reduce the risks of letting properties

NVM Woontoets: Fewer concerns for the landlord, greater clarity for the tenant

To reduce the risks of letting properties, the Nederlandse Coöperatieve Vereniging van Makelaars en Taxateurs (NVM) and Validata launched the NVM Woontoets in 2016. This extensive check uses Validata’s software and service to provide every NVM member with the option of screening potential tenants fast and efficiently.

Hans Janssen Garantiemakelaars in Nijmegen has been using this option for years. ‘For our landlords, for example, property managers, we are verifying if potential tenants are suitable to let their properties to,’ explains commercial administrator at Hans Janssen Garantiemakelaars. ‘Validata helps us check relevant personal data, because simply trusting a payslip is not recommended.’

Complying with the duty of care regulations by screening tenants

‘Before the NVM Woontoets, extensive screening was not an option in real estate. It just wasn’t a thing to do back then. Of course, you could request and verify certain documents of a tenant, but it usually did not go any further than that.’

Nowadays, real estate and or letting agents mediating between landlords and tenants have to comply with the duty of care regulations. This means that potential tenants should be checked regarding (financial) risks. ‘As a real estate agent, we believe we should present suitable tenants to our landlords. As a professional party, we want to comply with the duty of care regulations. The moment we present a potential tenant to a landlord, they will have already been screened and all their documents will be in order.’

NVM Woontoets relieves us of all the work

‘For our landlords, we are always looking for the perfect match: a tenant that makes monthly payments, takes good care of the property and timely notifies the landlord in case of any defects. A good relationship between landlord and tenant is important for both parties; fewer concerns for the landlord, greater clarity for the tenant.’

‘The NVM Woontoets provides security and relieves us of all the work. It frees up more time to focus on our core business. In the personal online account, we just have to enter the name, telephone number, and email address of the tenant. Then, Validata takes over and within five working days the report is ready for us to analyse.’

‘During the screening process, we do not have to contact potential tenants, as Validata guides them through the online system. Here, candidates can enter the relevant information themselves as well as upload documents. In addition, Validata has access to sources that we could never consult ourselves, like the BKR register, due to their partnerships with professional authorities. Screening with the NVM Woontoets means we do not have to worry about anything.’

A fitting screening profile for every requirement

‘There are six screening profiles to choose from: light, light plus, basic, complete, international, and a profile for entrepreneurs. Depending on the requirements of our landlords, we often choose light. This includes verifying the identity of the potential tenant and running a credit check at Focum and EDR. In the past, we used a more elaborate profile, but due to finance management, we recently switched to light. If a landlord requests a more thorough screening, this can easily be arranged in the personal online account.’

Analysing the screening report and a complementary conversation

‘Validata’s online system is easy to work with. I log in daily to check the status of our screenings. If I need assistance at some point, when the screening results need to be analysed more quickly than usual for example, Validata Support is always available. In situations like these, they make sure that this screening is given priority,’ shares the commercial administrator at Hans Janssen Garantiemakelaars.

‘Then, we start analysing the results; asking if everything is in order or do certain elements include a comment? The latter does not automatically result in a tenant being rejected. There could be a credit score at Focum for example, due to a completed paid claim in the past, while the potential tenant currently has a well-paid job. In this case, making further inquiries ultimately leads to a positive result, so the tenant can be recommended without any difficulties.’

Reducing risks and complying with current privacy laws

‘I expect screening to keep playing an important role within real estate in the future. The NVM Woontoets reduces potential risks and prevents material, financial, and even reputational damage. What’s more, you can be certain that you are complying with current privacy laws, like the General Data Protection Regulation (GDPR). We are guaranteed that the personal data of potential tenants is processed and stored correctly.’

‘Our partnership with Validata is very positive. We will certainly keep using their services and maybe even expand our screening profile. Naturally, this depends on the requirements of our landlords. We are happy that the NVM Woontoets provides extra security. After a positive evaluation, we can confidently present the tenants to our landlords.

Did the experience of Hans Janssen Garantiemakelaars, spark your interest? Are you using the NVM Woontoets to screen potential tenants yet? Would you like to learn more about the options?

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