A rating and review service that allows both tenants and landlords to assess each other after one month of engagement and then again at the end of a tenancy has been launched by HomeRenter.
The online letting platform claims that it trying to modernise the rental market and align it more closely with the likes of TripAdvisor and Airbnb.
The new ratings service has been launched following research by HomeRenter which revealed a demand for such a service, with both tenants (81%) and landlords (88%) expressing a desire to be able to rate and review their counterparts, encouraging a respectful and transparent relationship.
Through the ratings and reviews service, landlords can evaluate their previous and existing tenants. ‘Mid-tenancy’ ratings are based on measures such as timely rent payment; any noise or neighbour issues; treatment of property and promptness in reporting issues.
The ‘end of tenancy’ ratings are similar, but include scores for the condition of the property when the tenant moves out. These ratings are then factored into the tenant’s ‘HomeRenter Tenant Score’ which is visible on their profile page on the site.
To capture reviews on landlords, HomeRenter invites previous and current tenants to share their renting experience.
The five star rating system means tenants can rate the condition of a rental property, based on metrics such as value for money, maintenance, transport and how responsive landlords are to issues raised.
Will Handley, CEO of HomeRenter, said: “In a connected world, consumers have become accustomed to being able to read ratings and reviews, from holiday lets to taxi rides, to inform all major purchase decisions. However, in the rental sector, this concept has scarcely landed. Choosing where to live is an incredibly important decision which no-one wants to get wrong.
“With people now renting for longer, it is even more essential that tenants are able to check their landlord’s previous letting history. And vice versa. What’s more, the traditional referencing and security deposit model for tenants is antiquated and in need of a radical shake-up to get in shape for 21st century renting.
“Having a review system in place facilitates a more transparent market place for both tenants and landlords.”
Want to comment on this story? If so...if any post is considered to victimise, harass, degrade or intimidate an individual or group of individuals on any basis, then the post may be deleted and the individual immediately banned from posting in future.