we secure pre-let rental payments
Protect funds paid to a landlord/agent in advance of a renter’s move in date. Most online property frauds result in the theft of money transferred by a renter before the move in date. We hold money in escrow for renters and only release after the move in date. Protect your funds with via Secureprop Escrow – our fee is 3.5% of escrow funds held incl. VAT.
Secure payment system
Compliant Escrow agreement
Secureprop managed process
Robust fraud prevention measure
why Escrow matters
Pre-let rental funds theft is a typical feature of most rental scams. Holding funds in escrow, in a secure manner, protects renter funds and deters fraudulent landlords from proceeding with a scam.
Holding funds in Escrow is recommended by An Garda Síochana as an recommended fraud prevention measure – “where possible to ensure funds are not released until you are certain that it is a legitimate transaction“.
Funds are only released 3 days after a renter moves in the property. This prevents Fraudsters from stealing your deposit, pre-let funds etc. via a robust fraud prevention measure.
Secureprop Escrow can enhance international renter’s chances of securing a property as it enables them to securely pay for properties which they haven’t viewed in person.
transact on any platform
Benefits both landlords and renters. Search for properties or tenants on any platform, including social media, knowing our tools can secure your rental transaction.
Applicable in any renter/landlord transaction
Reduce the overall risk of property fraud
Reduces the reliance on property/renter visits
Protects significant pre-let rent payments
HOW IT WORKS – RENTER
1. OFFER STAGE
You apply for accommodation and receive an offer from a landlord.
You notify your landlord that your preference would be for both parties to verify via Secureprop Escrow (we can provide suggested wording). Contact us at info@secureprop.com to start the process.
Remember Secureprop’s security tools are used after you receive an offer but before you send payment.
2. escrow agreement
We contact both the renter and the landlord to provide additional information and start the process. We prepare an escrow agreement and arrange online signatures for all parties. We can answer any questions that your landlord may have.
Each party receives a signed copy to the escrow agreement along with payment instructions.
3. Payments
The renter transfers Secureprop the agreed amount (can consist of agreed holding fee, security deposit, rental payment in advance).
The landlord provides their bank account details to Secureprop.
Landlord is notified when Secureprop receives renter payment and the funds are transferred within 7 business days of the renter’s move in date.
FAQs
What is Secureprop Escrow?
Secureprop Escrow protects renters who are required to pay rent or deposits in advance of their move in date. Typical online rental scams result in the theft of pre-let rental payments – Secureprop Escrow combats this.
What stage in the rental process do I contact Secureprop?
You can contact us as soon after you have been offered a property by the landlord, but before you make any payments.
What should I say to my landlord when telling them about Secureprop Escrow?
We suggest that you state something as follows: “For security purposes, it would be appreciated if we could process payment via Secureprop Escrow if that is acceptable to you? You can see further details about this verification at www.secureprop.com/escrow and email info@secureprop.com if you require additional information. If acceptable, would it be ok if I shared your name, email and property address with Secureprop so they can contact you to start the process?”
What if my landlord does not want to complete Secureprop Escrow?
Secureprop Escrow is an optional security measure. We would urge you to assess the situation from a risk assessment before making any payments. Please note that Secureprop also performs risk assessments for renters, if you would like to better understand the risk of the proposed transaction.
Does Secureprop also verify the renter as part of the process?
Yes, Secureprop will also verify the renter’s identification and proof of address.
How much does this Escrow service cost and who pays?
The verification process costs 3.5% of amounts held in Escrow – fee includes VAT and payee bank fees. Renters would typically pay. Simply email us at info@securepop.com to request the service and we can start the process.
Who can see the information that a landlord or renter shares with Secureprop?
All data and information is encrypted and secure. Identification and proof of address etc. is sensitive personal information and confidentiality, GDPR and encryption is a priority. Information is only available to Secureprop for 90 days.
When does the renter have to pay the funds to Secureprop.com?
Renter’s typically transfer the holding deposit (if applicable) to secure the property. Security deposits and rental payments in advance are usually transferred at an agreed later date, prior to move in.
What happens if the property does not exist?
Renters would receive a refund in full if the property does not exist. The renter must notify Secureprop within 3 days of the move in date, otherwise funds will be released to the landlord in accordance with the escrow agreement.
What if the move in date changes?
Renters must notify us if the move in date is delayed – Secureprop would alter the escrow payment date accordingly.
Why does Secureprop exist?
Secureprop.com was created to combat online property rental scams. We believe that prevention is key – online property scams are typically only detected by renters after the fact and unfortunately the rate of prosecution is low. If used properly, our security tools and services can protect renters and landlords from online property scams.
Will Secureprop share the landlord’s bank account details with the renter?
No, the landlord’s IBAN, BIC and account number is only collected to enable Secureprop to transfer the funds after the move in date. Secureprop will not share these details with any other party.
What is the cost of partnering with Secureprop.com for bespoke services?
Contact us at info@secureprop.com and we can discuss your organisation’s needs and potential costs.
Get in touch
Contact us today to explore how our housing service could work for you.
Email Us
Contact us via email and we will endeavor to respond to all enquiries within 48 hours.
The Glasshouse Blackrock, Frascati Hall, Sweetman’s Avenue, Blackrock, A94 F9N7
or Drop us a line…
Please provide as much details as possible including your target move in date, how long you need accommodation for, where you will work/study and any additional details regarding your housing preferences.