Letting agent forms compliance partnership with Edinburgh software company
Edinburgh letting agent Umega Lettings is working with Leith-based start-up Amiqus Resolution to streamline and automate its client and staff compliance processes.
The deal marks the first move for Amiqus into the property management sector as government-led compliance comes into force across Scotland, designed to improve levels of quality and trust amongst letting agents.
The updated regulations and Letting Agent Code of practice form part of a broader regulatory framework that means letting agents are now obligated to complete thorough AML and identity checks on their landlords and tenants, as well as staff vetting. Furthermore, as of 1 October 2018, all letting agents had to apply to join the Scottish Letting Agent Register.
Umega used the regulatory change and best practices to create competitive advantage, working with Amiqus to digitise, streamline and automate client and staff compliance processes.
Amiqus ID, the first product released by Amiqus, can be used to request, analyse and manage compliance checks for staff and clients. Umega use the software to verify the identity of their landlords and tenants, complete disclosure checks on their staff and undertake risk assessments. Using the online, encrypted tool dramatically reduces the time it takes to run compliance checks securely, meaning Umega can place tenants in their new home quicker, minimising void times for landlords.
Callum Murray, CEO of Amiqus, said: “We’re delighted to be working closely with Umega, supporting their specific needs in light of new legislation and change for their sector. We look forward to extending this partnership into the future and supporting more letting agents in Scotland and beyond.”
Neil McInnes, managing director of Umega, said: “We’re proud to be working and associated with Amiqus. Their approach to solving the new problems faced by our sector is refreshing, innovative and very timely. The increasing legislation in our sector is great for landlords and tenants. The support and solutions offered by Amiqus mean that we can easily meet these higher standards while not distracting us from providing exceptional service to landlords and tenants.”