JSE Securities Exchange-listed Global Technology has announced that Tenant Profile Network (TPN), the company`s Internet-based tenant tracking service, has hit the landmark of signing up 200 clients. This milestone was achieved a month ahead of the anticipated date.
Launched in June 2000, TPN has grown substantially since its inception: the growth rate for 2001 was 213%, followed by 146% for 2002. The service enables estate agents dealing in commercial, industrial and residential properties to acquire prior leasing information (damage to property, late payment, eviction or absconding) on potential tenants. ID verification and general credit information on individuals and companies applying to rent or purchase property are also provided.
"With the recent property eviction ruling front of mind, TPN assists companies in ascertaining whether applicants are credible and secure," says Alan Williams, CEO of Global Technology`s services division. "Vital information, such as credit history, including judgements, defaults, notices and trace alerts are available to our clients though TPN`s partnerships with the relevant organisations in SA."
These partnerships include the Department of Trade and Industry (DTI) and the Information Trust Corporation (ITC), SA`s largest consumer and business risk management information supplier that has a database containing 100 years` information on people. It allows agents to verify an applicant`s credit risk through the provision of creditworthy information.
Property24 has also endorsed TPN and has recommended the product to 1 300 of its subscribers, while the South African Property Owners Association (SAPOA) has also added its support.
Williams says the next partnership is in the pipeline. It will be with the Department of Housing and will link TPN with the Rental Housing Tribunal. "Clients will be able to view tenants, or potential tenants and their records of mediation or arbitration through this council."
Leading agencies dealing with different areas in the property sector are making use of the service. The PA Group uses TPN for processing home loan verifications, while Just Letting, a Gauteng-based residential leasing franchise, has signed all of its branches onto the system. The Free State Development Corporation, a large developer, has also subscribed.
"Having access to TPN is like having an expert consultant available on a permanent basis," says Williams. "TPN provides property agents with a mechanism for reducing the risk associated with placing tenants and because it`s Internet-based, it`s never more than a mouse-click away. In addition, TPN is unique in that nobody else supplies tenant information to agents in this country."
The TPN service is offered throughout SA via associates in most provinces. It is only Limpopo that is not yet covered and the process to include it is already underway.
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