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Onboarding New Tenants
A flexible onboarding process which allows you to manage applicants from viewings, through holding fee and tenancy agreement with eSignature through to becoming a tenant in your property.
Last updated: 18th May 2022
You are in: COHO | Knowledgebase | Onboarding New Tenants
1. Onboard a new applicant
Initiate an onboarding from the property information page under the onboarding panel. This opens up an application form to be completed by the property manager with the option to include or exclude steps according to their individual processes.
2. Your applicant receives a notification
The applicant will receive both an email and SMS from COHO on behalf of your organisation inviting them to create a COHO account and participate in the onboarding process to progress and confirm their tenancy.
3. Your applicant creates a COHO account
Once the applicant signs up to COHO it enables them to actively participate in the onboarding process whilst also allowing the ongoing conversation to happen within the COHO message centre alongside the onboarding steps.
4. The applicant pays the holding fee (optional) and completes the application form (optional)
With the holding fee step enabled the manager can request payment of and acknowledge receipt of a holding fee.
With the application step enabled the manager can create and send an application form to the applcant to be completed.
5. Receiving the holding fee (optional) and reviewing the application (optional)
With the relevant steps enabled in the onboarding process, you will see all the relevant information added to your COHO account, which can then be reviewed and moved on to referencing if necessary.
6. Start referencing (optional)
When you include a referencing step as part of your onboarding process it introduces a pause in the process to allow you to conduct the required reference checks.
You can either process the applicants data internally or obtain an external reference from the information the applicant has provided and upload the results to COHO for storage and future reference.
7. Referencing a guarantor (optional)
You can also request guarantor details from the tenant as part of the onboarding journey, either by choice at the outset, or as a result of the tenant referencing process.
Once again, you can either process the guarantor data internally or obtain an external reference from the information the guarantor has provided and upload the results to COHO for storage and future reference.
8. Your applicant checks the progress
At any point in the onboarding process the applicant is able to check-in on progress and see exactly what is happening at any point in time.
9. Create a tenancy agreement
Next, you have to generate a rent schedule to initiate the creation of the tenancy agreement, including a pro-rata initial payment to bring the schedule in line with a ragular rent payment date, if required.
With a rent schedule in place you can add in the information about the tenancy agreement and choose what type of agreement you will be using: a traditional wet signature, or using COHO eSignature.
You can also use a Microsoft Word document template incorporating merge fields to bring data from COHO into a strandard tenancy agreement teamplate.
NB. The COHO eSignature3 service costs £1 plus VAT for each tenancy agreement
10. Your applicant signs the tenancy agreement using COHO eSignature (optional)
Your applicant uses COHO eSignature to sign the tenancy agreement and acknowledge all of the accompanying compliance documents.
COHO will automatiucally include the latest EPC, EICR, Gas Safety Certificate, HMO licence (If appropriate) that you have uploaded to your property as well as a link to the latest Government How to Rent Guide.
See also the tenant guide for how to Use COHO eSignature to sign a tenancy agreement
11. You confirm the tenancy agreement using COHO eSignature (optional)
Once the tenant has completed the eSignature process, you can confirm the agreement and add your signature either as the landlord or on behalf of a landlord.
See also how to Use COHO eSignature to confirm a tenancy agreement
12. Set move-in monies
This step can be completed before, alongside or after the tenancy agreement step, and allows you to choose what elements of upcoming rent and deposit, less holding fee should be paid in order for the tenant to move in to the property. We'll let the tenant know and pass on your payment instructions.
13. Your tenant moves in!
When the tenant indicates that they have paid the move-in monies you can confirm them as received and finalise the tenancy.
If necessary, we'll hold the details as a future tenancy until the move in date and automatically update the tenancy and the room once the date is reached.