Bunk has teamed up with Nationwide Building Society to strengthen its service with a view to strengthening its landlord service to help those who choose to manage their own portfoilio.
The digital rental platform aims to help landlords revolutionise the way they let their properties.
It aims to make a landlord’s life easier by processing tenants’ references and completing the tenancy set up within the site. Once the properties are listed, landlords can view them on a dashboard, which also notifies them when a deposit and rent has been paid, saving the need to review their current account statements.
Bunk also allows tenants and landlords to correspond within the site, so enquiries such as expressing an interest in renting a property and maintenance requests will go directly to them, providing transparency giving landlords and tenants peace of mind.
To ensure landlords are up to date with their responsibilities and able to comply with the latest regulation, Bunk offers prompts and smart insight, while also offering support and advice for those who have become accidental landlords.
Tom Woollard, CEO at Bunk, commented: “We want to build something the rental market has never seen before. Landlords are facing reduced margins coupled with increased regulation and there has never been a better time to make their lives easier through the use of technology.
“Bunk is there to make the process less stressful and more enjoyable for both renters and landlords. Bunk’s mission is to make renting work for everyone, and we’re thrilled to have a partner like Nationwide backing our vision.”
Nationwide, one of the largest buy-to-Let lenders in the UK, has long campaigned to improve standards within the rental sector for both tenants and landlords, and believes that Bunk will help to achieve that goal.
Tony Prestedge, deputy chief executive at Nationwide Building Society, said: Bunk is combining the latest digital technology backed up with human service to not only offer a seamless digital experience but also reduce friction in the rental market between tenants and landlords.
“Many landlords choose to manage their portfolio on their own, the service that Bunk offers could support them, ensuring they’re on top of their obligations and providing a better service to their tenants.
“They are a natural fit for our Venturing Fund investment, which seeks to fund start-ups that are focussed on making people’s lives easier through smart insights and fair practice.”