A conversation with Mittelsmann Philipp Sulek GmbH about the importance of tenant creditworthiness checks in residential letting
Mittelsmann Philipp Sulek GmbH (www.sulek.immobilien) is a real estate agency based in Vienna. The company was founded in 2015 and is celebrating its 7th anniversary this year. Its corporate philosophy, experience and strong commitment to digitalisation combine to form an ideal recipe for success for Austrian real estate agents. Since October 2019, the company has been working closely with FINcredible in the field of digital credit assessment. The FINcredible Rental Check helps the company make the right decisions in its day-to-day operations by providing meaningful credit and identity information, as well as fast and simple credit assessment processes.
We recently had the pleasure of speaking with company owner Philipp Sulek about tenant creditworthiness, particularly in the context of the pandemic. To achieve customer satisfaction and long-term success, one thing is very clear to Sulek Immobilien:
“Due to the pandemic, the personal aspect has taken a back seat and maintaining contact – or ‘tuning in’ – has become difficult because of masks. As a result, we have become even more reliant on digital tools and facts when deciding whether prospective tenants are a good fit for the landlord. Payslips are no longer among the most important factors when deciding whether to approve a prospective tenant.”
Philipp Sulek, Mittelsmann Philipp Sulek GmbH
Digital Creditworthiness Assessment for Rental Properties
Tenant creditworthiness is crucial for successful rentals. Transparency and data protection are of central importance, alongside flexibility and reliability. Like any contractual relationship, a tenancy should be based on trust from the very beginning. Real estate agents and landlords therefore have a legitimate interest in assessing the financial solvency of potential tenants. For prospective tenants, providing this information offers the opportunity to build a relationship of trust. With the FINcredible Rental Check, real estate agents and property owners have access to a digital solution that can be easily integrated into the apartment application process.
Philipp Sulek is also aware of the importance and responsibility that his job entails:
“I see us as part of a new generation of real estate agents – one that is committed to serving our clients, making a meaningful difference and living by the principle that actions speak louder than words.
As we specialise in residential property rentals, we see our role as guiding clients through the complex process of finding a home. In this process, we act both as gatekeepers and as door openers – not just in the literal sense.
Punctuality, empathy and reliability are among the most important qualities that define our approach.”
Philipp Sulek, Mittelsmann Philipp Sulek GmbH
Reliability includes a secure and trustworthy creditworthiness assessment that ensures full data protection and transparency. Prospective tenants benefit from this digitised process by being able to quickly and easily submit the information needed to determine their ability to pay. Tedious manual processes, such as filling out a paper self-disclosure form or submitting separate pay stubs, are now a thing of the past.
The Solution: FINcredible Rental Check
The FINcredible Rental Check provides a fast and reliable creditworthiness assessment based on verified bank account data. With the prospective tenant’s consent, this data is accessed securely through PSD2-compliant interfaces. In just a few steps, you can obtain valuable insights into the rent-to-income ratio, the prospective tenant’s employer and employment status, as well as verification of their bank account details. The solution also identifies the most suitable date for rent collection. Because the information comes directly from the bank, the risk of data manipulation and falsification is reduced. Whether a property has just been listed, initial rental enquiries are coming in, viewings are taking place or the rental agreement is about to be signed, the FINcredible Rental Check can be carried out at any stage of the rental process. The results are available immediately after completion in the form of a digital certificate, providing reliable documentation of the verification.
“As a support tool, the FINcredible Rental Check is more than just a snapshot of a tenant’s financial situation – unlike a pay stub, which can now be easily forged. Thanks to its straightforward process, the Rental Check has been seamlessly integrated into our daily operations and credit screening process, and many landlords view it as a welcome innovation.”
Philipp Sulek, Mittelsmann Philipp Sulek GmbH
FINcredible would like to extend its sincere thanks to Philipp Sulek of Mittelsmann Philipp Sulek GmbH for the interesting conversation and looks forward to continuing to work together.
Would you like to become a FINcredible partner agent? Simply set up your account for the FINcredible Rental Check and get started right away! If you have any questions or would like to schedule a personal appointment with us, please don’t hesitate to contact us via our contact form.
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