A PropTech company claims to have created a Covid-friendly app for landlords in London, challenging traditional agents’ models for finding tenants.
Rentd, which describes itself as the only fully automated platform allowing tenants and landlords to transact with no human interaction, says it’s particularly useful in London’s lettings market this winter.
“Rentd’s business model challenges the status quo of DIY rental platforms and traditional lettings industry model by introducing contactless transactions through the use of leading tech, high standards of live customer service and transparent fees in a bid to win back landlords’ and tenants’ trust” says a statement from the firm.
It claims the London market is “completely saturated” with agents, whose “quality of customer service has reached an all time low, leaving tenants feeling frustrated and left in the dark.”
Landlords pay Rentd a one-off £799 fixed fee, including VAT, to list properties on Rentd and once a tenant selects a unit, negotiations are conducted online with landlords having the opportunity to accept, decline or counter-offer a tenant’s bid.
The service is free to tenants.
A statement by Rentd claims it helps landlords save a typical average £288 per month listing on Rightmove - a figure it says is based on a 10 per cent fee of the average rent in the capital.
Rentd says it currently has 2,500 registered renters and it is set to expand into Dubai next year.
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'quality of customer service has reached an all time low'? Based on what exactly?! I think most agree that the industry is getting better year by year, especially in the capital where competition is fierce but fees are large. Tough markets require expertise, experience and the personal touch- the market is perfect for quality agents and will be very tough for outfits like this.
As with landlords and tenants there are good and bad agents, I have used a small independent agent in Norwich for more than 15 years, no problems, we get on well.
No such thing as a bad LL. Only ones that get a little confused at times.
All tenants however, are thieves and crooks and house wreckers.
C'mon David. Surely you mean 99.99999% which is not all?
I was a tenant around 50 years ago and I am sure I was perfect!
Those footprints on the bedroom ceiling were there before we moved in - just co-incidence the landlord only spotted them after a noisy party - and OK, no girlfriends had noticed them earlier but their attention was elsewhere and besides I prefer the lights off!
No Robert I like the lights on, I need to be seeing what I doing and who I'm doing it with.
Andrew
It's nearly 50 years since I needed to remember who I was with, and any mistakes in the intervening years would probably have proved fatal - so lights on, while a wise precaution, has not been a necessity for me during that period.
Prop Tech, just more & more Digital Academics destroying our Business on line everything carving out rich pickings for themselves Alienating and destroying us. The internet has caused most of the problems that we have for sure, we wouldn't have half the stupid regulations only for the internet because they are too lazy and wouldn't do it if it involved work. We were far better off before internet and much easier to source Tenants because we weren't pigeon holed and controlled by web sites. Just a simple ad in the Evening News or Loot and they flocked from all over L'don, not messing about on line looking at hundreds just to see what you had for fun, I thought we had privacy Laws.
Yes Micheal that's what I did in the 90s 15 minutes between viewings all afternoon, face to face, If I say myself I'm a good judge of people, give me the guy that came straight from work, not the ponce in a suit.
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