A PropTech platform says it’s giving landlords the opportunity to spread their management fees and marketing costs across the duration of a tenancy, instead of having to pay the bulk of them upfront.
Home Made says that under the traditional model, private landlords are required to pay thousands upfront to agents at a time when their cash flow is most restricted when a property is un-tenanted.
Home Made says its Property Wallet platform gives every tenancy a dedicated bank account, enabling tenants to pay their rent into Property Wallet. Once received, the platform calculates what the landlord is due and what needs to be withheld to cover expenses.
The service is already operating with a number of Build To Rent operators and Home Made is further expanding into Dublin having already rolled out to London, Manchester, Liverpool, and Bristol.
Founder Asaf Navot says: “The data we have on the UK rental market clearly showed that private landlords needed a feature like this to help them relieve the pressure on their cash flows and improve the efficiency with which they manage and optimise their finances, so we built a solution.
“Over time, we will be able to help them optimise their financial performance to take advantage of seasonal spikes, market trends, and consumer behaviours, growing their revenues and passing these savings onto renters.
“Property Wallet is a feature inspired by landlords, created for landlords, and we’re really excited to bring it to market. We have had phenomenal success in the build-to-rent sector to date with our data-driven, tech-enabled offering, and have worked with the majority of Europe’s major property funds including Greystar, GetLiving, and Grainger.
“With this exciting new feature, we plan to have a similarly transformative impact for private landlords, all while creating a better rental landscape.”
Home Made claims to work already with around 250,000 tenants, over 5,000 private landlords, and some 60,000 Build To Rent properties.
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