Project Overview
A UK Build-to-Rent (BTR) operator managing 3,200 rental apartments across 8 developments needed to replace man...
Technology Stack
Compliance & Standards
The Challenge
A UK Build-to-Rent (BTR) operator managing 3,200 rental apartments across 8 developments needed to replace manual rent collection (spreadsheet-based arrears management, paper standing order mandates, and BACS payments processed by the finance team). FCA Consumer Duty for rental management services, UK GDPR for tenant financial data, Tenant Fees Act 2019 compliance, and Open Banking income verification were the requirements. Budget: £90,000.
Our Approach
Automated Rent Collection
Stripe Mandate for automated Direct Debit collection (BACS Direct Debit via Stripe).
Tenancy database
- rent amount, payment date, tenure type (AST, Licence).
- Automated collection on due date.
Failed payment
- retry sequence (day 2, day 5), then arrears workflow trigger.
- GOV.UK Notify for all tenant payment communications (receipts, arrears warnings, eviction notice templates).
Open Banking Income Verification
TrueLayer AISP for pre-tenancy income verification: 3 months employment income from bank statements (replacing payslip PDFs, which are subject to manipulation).
Affordability calculation
- monthly income × standard 40% affordability threshold.
- Pass/refer/fail with explanation for declined applicants (
Tenant Fees Act
no application fee, so declined applications are a cost — minimising referrals improves economics).
Tenant Fees Act 2019
prohibited fees (application fees, reference fees, inventory fees) are illegal.
Permitted payments
- rent, deposit (5 weeks), holding deposit (1 week, refundable), default fees (late rent after 14 days, lost key replacement).
- Platform enforces permitted payment taxonomy — no prohibited payment can be processed.
FCA Consumer Duty
all fees clearly disclosed before tenancy agreement.
FCA Consumer Duty for BTR
Build-to-Rent operators that offer financial services (e.g., rent-to-own, flexible deposit schemes) may be FCA-regulated.
Consumer Duty Consumer Understanding
- all financial product terms in plain English (Flesch reading ease >
- 65).
Consumer Support
complaints pathway clearly accessible from tenant portal.
Arrears communications
MCOB-style affordability reassessment offer before formal eviction proceedings.
The Results
Platform live at 12 weeks, £84,000 — under budget.
Automated collection rate: 96.8% on first attempt.
Failed payment manual processing: 40 hours/month → 4 hours/month.
Arrears cases resolved within 14 days (before formal proceedings): 78% (was 52%).
Tenant Fees Act audit: zero prohibited payments.
Open Banking income verification: 14% reduction in referral rate (more accurate affordability assessment).
“40 hours a month to 4 hours. That is the finance team getting 36 hours back every month. The Tenant Fees Act audit was clean — no prohibited payments, ever, because the system physically prevents them. The Open Banking income verification has been a genuine differentiator in a competitive BTR market." — Operations Director, UK BTR Operator (name withheld)”
Project Details
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