Title Guardian has introduced a revolutionary technology designed to protect homeowners and landlords from increasing property-related fraud. This innovative solution actively monitors digital sources like sales and letting portals, and government databases, including HM Land Registry and Companies House. It promptly alerts property owners of any suspicious activities through SMS, email, and app notifications, enabling quick action against potential fraud.
Property fraud, particularly in the rental market, manifests in various forms. A common issue for landlords is unauthorized sub-letting, with nearly half of tenants (48%) who sub-let failing to inform their landlords. Other risks include tenants using rental addresses to establish companies, posing potential insurance, mortgage, and legal complications for landlords. Additionally, title fraud poses a significant threat, especially in cases where landlords do not reside at the property.
John Daw, CEO of Title Guardian, emphasizes the importance of this development, especially for landlords. He notes, “The property industry’s processes require significant modernisation and digitisation… greater protection against fraud threats is essential.” Daw also points out the risks associated with publicly accessible property owners’ data, underscoring the need for robust protective measures.
Title Guardian’s introduction has already demonstrated its efficacy, preventing three potential cases of property-related fraud within its first three weeks. This includes unauthorized rental listings and the establishment of bogus companies using the addresses of unsuspecting property owners.
Paul Shamplina, founder of Landlord Action and an advisor to Title Guardian, remarks on the significance of this technology for landlords, stating, “Title Guardian changes the game. It’s a new-level of protection that’s much-needed.”
Daw further highlights the integration of technology in property management and protection, drawing parallels with popular smart home devices. He explains, “Our smart technology is a natural extension of this tech suite, going one step further by protecting property ownership.”
The impetus for Title Guardian’s development was the title fraud case of Reverend Mike Hall in 2021. Its sophisticated system, developed by a team of proptech entrepreneurs, aggregates data from various property and government digital sources to offer a proactive, always-on protective layer.
Title Guardian is now accessible to all homeowners and landlords in England and Wales via a mobile app, with a desktop version launching on 1st January 2024. The service is offered at an annual subscription of £49.99 for a single property, with scalable pricing plans for landlords with multiple properties. The app is available for download on the App Store and Google Play.