The problem with bad tenants, with delays or even unpaid rents as well as damage to their properties is being tried by property owners, who seek to pass a proper evaluation of all interested parties. This is the difficult part of the equation, since in order to do all this, it takes a lot of time and effort on their part. Technology and the smart idea of a young Cypriot come to provide a solution to this.
More specifically, 28-year-old Christos Clerides from his own experiences promoted and implemented a new idea that is being implemented for the first time in Cyprus and can free property owners and real estate agencies from time-consuming procedures and unnecessary "headaches", while reducing the risk from bad tenants and future problems.
The reason for Proper Property's Tenant Credit Check Tool, a new tool in Cyprus that allows property owners and real estate agencies to check the credibility profile of interested parties before choosing the person to rent.
Christos Clerides developed this tool to fill the gap observed in such agreements and to give transparency, security and professionalism to the Cypriot rental market, which until now was absent, as he states.
In addition, the process is simple and immediate, while everything is done with absolute protection of personal data.
Why he made it – What is the charge – How it works
The founder and CEO of Proper Property, Christos Clerides, spoke to "F" about the whole project, answering basic questions about how it works, the security of the system, but also the reasons that led him to develop this innovative tool.
-How did the idea for the creation of this tool come about?
The idea was born out of personal experience. Having lived as a tenant abroad, in the Netherlands, in the UK and later in Cyprus, I found out how different the way the rental market works from country to country.
Abroad, the process is clear, organized, and data-driven. In fact, in many countries it is not legally allowed to rent a property without a prior credit check of the tenant.
In Cyprus, however, the market continues to rely mainly on personal trust and "instinct".
This difference has led us to look for a solution that will bridge the gap. Through our strategic partnership with Atokes, a pioneering Buy Now, Pay Later platform, we have developed the Tenant Credit Check Tool, a modern digital tool that brings transparency, reliability, and technological innovation to the Cypriot rental market, aligning it with European standards.
-Can you explain to us in simple terms how it works and who can use it?
The process is simple, secure, and fully digital. The owner or broker creates an account on the platform, registers the property they want to rent and invites the prospective tenant.
The tenant receives the invitation, answers some basic questions, such as whether he is a family man, an employee or a student, and through a secure connection to his bank, the evaluation process is automatically carried out.
Everything is done with absolute privacy protection, in accordance with the GDPR, without storing or sharing information with third parties.
Within minutes, the detailed credit report is ready, offering the landlord or broker a clear picture of the tenant's solvency and reliability.
The tool is aimed at owners, brokers and property management companies, and will soon be available to tenants who want to present their reliability profile themselves.
For example, in the future, a tenant will be able to have their own account, view their rental history and reliability score, and present it to potential owners when looking for a new property. In this way, a digital reputation is created that will accompany him in every rental.
-Is there a fee for this service and what does one need to do to register?
Yes, the service is offered at a cost of €25 per check, which covers the assessment process and the interface with the credit analysis platform.
Registration is easily done through our website www.properproperty.com.cy, where the user can create an account and get started immediately.
Our philosophy is to offer an accessible, reliable, and professional solution, which makes the rental market more transparent and secure for everyone involved.
-How is the tenant assessment done? What criteria are answered through this tool?
The assessment is carried out through a credit analysis system, which takes into account multiple indicators, such as consistency in financial obligations, historical solvency, and overall financial stability of the tenant.
The result is a detailed reliability profile, presented in a simple and easy-to-understand way.
By doing so, landlords and brokers can make informed decisions, reducing the risk of arrears or non-payment of rents and enhancing the professional image and transparency of the Cyprus rental market.
