Research from Propoly found that just 31% of UK letting agents are "absolutely confident" their current onboarding process protects against tenancy fraud, while more than half, 54%, said they have concerns about tenant fraud during the process.
The findings come as the reported cost associated with tenancy fraud has increased. Figures cited by Propoly show the annual cost rose from £7.2m in 2021 to £14.5m in 2025, an increase of 101.4%.
For landlords, weaknesses in tenant checks could increase the risk of entering into a tenancy based on false identities, documents or financial information. However, agents also face pressure to complete checks quickly to avoid properties remaining vacant for longer than necessary.
Propoly's survey found that only 31% of agents complete tenant onboarding within three days or less. A further 31% said the process takes between four and seven days, while 29% reported typical times of between one and two weeks. For 6%, onboarding takes more than a fortnight.
Referencing appears to be the main bottleneck, with 43% of agents identifying tenant referencing as the part of the process responsible for the most delays.
At the same time, 29% said preventing fraud and verifying information was their biggest onboarding challenge. The same proportion cited chasing tenants for information and documentation.
The results highlight the challenge for agents of carrying out identity, affordability and fraud checks without creating delays that can affect landlords waiting for a tenancy to begin.
Sim Sekhon, group CEO at Propoly, said: "Tenant onboarding has become a difficult balancing act for letting agents. They need to move quickly, because delays can frustrate landlords, tenants and agents alike, but they also need to be confident that the person they are onboarding is who they say they are and that the information they've provided can be trusted.
"The answer isn't to choose between speed and security. Agents need a process that delivers both. If referencing, identity checks, fraud prevention and document collection are fragmented across different systems and rely heavily on chasing tenants, it's inevitable that the process becomes slower and more difficult to manage."
"For agents, a good onboarding experience should ultimately mean less administration, fewer delays and greater certainty that the tenancy is progressing with the right tenant. That's what we are focused on delivering."
