Lettings Services Firm – Surviving the Tenants Fee Ban

Another market where The Robot Exchange has found traction is in the increasingly regulated market of lettings. Engaging a intermediary in the market, we undertook a full strategic review of their current tenants referencing & insurance processes. This was considered critical for the company as the law concerning tenants is in the process of being tightened so that many lettings agents are no longer able to charge tenants for some of their administrative tasks and are faced with the prospect of either losing critical margin (estimated at 14%) or losing landlords to on-line or cheaper competitors.

Working with the CEO of a South West based intermediary, the company identified some easy quick wins to reduce the costs and reduce the impact of the up-coming legislation;

– Updating Tenants Referencing Cases – Much of the process remains a manual one with the company needing to accept and process evidence of tenant’s income and landlord’s references. The Robot Exchange created a robot which could identify the inbound e-mail content, search flexibly to identify the tenant it related to then login to and update the tenants reference automatically. This decreased the SLA from the original 72 hours to 48 hours across the majority of references

– In addition to this, a robot was developed that monitored the insurance departments inbound e-mail for any customer e-mails that (either in the body or attachment) mentioned complaints, renewal, cancellation or claims. These e-mails were then diverted to dedicated teams to manage as a priority increasing renewals, reducing cancellations while also, making the claims process quicker for their insurance customers

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