A new website has been launched with a view to helping landlords find quality tenants.
Using Tenancy Trust, landlords can invite reviews from tenants and build a bank of testimonials over time, with a view to attracting the best tenants.
The new platform also allows landlords, letting agents and other service providers to post details of properties and services free of charge
Tenancy Trust is believed to be the first platform of its type where tenants can invite reviews from landlords to prove their own credentials, and it provides a secure place for them to store documents such as payslips and proof of identify so they can provide instant access when applying for new properties.
Both landlords and tenants must sign up before any reviews about them can be posted and identities are verified to prevent fake accounts.
Tenancy Trust has been launched by professional landlord Jon Maumy with the aim of building trust between different parties in the rental sector.
Maumy, who has a portfolio of residential properties in the Midlands, came up with the idea recently while researching the property market as part of a post-graduate business course at the University of Northampton.
He said: “Property rentals are like a blind date where both parties have to make a rapid commitment. Landlords entrust their costly properties to tenants they have never met who in turn agree to hand over a significant part of their income.
“While there are horror stories on both sides, the majority of landlords and tenants are decent but they need a better way to show it. Tenancy Trust allows them to use reviews in a pro-active way to build trust.
“For landlords, it is way to establish a reputation for quality and service and differentiate themselves in the market. It also plays a useful role in the referencing process.
“Meanwhile tenants can use it to build a track record to help secure the best properties just as they might use their CV to get the right jobs. This is particularly important now competition is getting tougher and people are renting for longer before they buy.
“Tenancy Trust aims to create a culture of transparency and alleviate concerns on both sides.”