Credit referencing system to benefit real estate industry

The development will help deal with challenges agencies and property managers face in pre-assessing risks potential tenants bear. The partnership between the Credit Reference Bureau (CRB) Africa and the Real Estate Institute Botswana (REIB) could reduce hurdles that stare players in the property market in their efforts to recover bad debt.

CRB Africa relationship manager Tsaone Kabomo said at the Blue Tree Golf Resort recently that the credit referencing system offers information that would counter challenges such as exposure to habitual defaulters, lack of holistic information to make prudent decisions and increased costs of renting to consumers due to delinquent debts and unobserved rotation of delinquent tenants within the industry.