A new company is set to shake up the way that people find properties and landlords find tenants. This is totally in tune with the majority of today’s tenants who want quick and easy ways to view and book their next rental properties online. The traditional high-street letting agents and property firms are facing fierce competition from online upstarts who are switched on to the needs of Generation Rent and millennials. They are used to doing everything online and finding a rental property is no different.
Now, Residently is set to take on the online sector with its ambitious plans to become the biggest international brand in the online lettings’ sector. Residently says it is redesigning renting and keeping it simple with property prices driven by data and no hidden fees. It aggregates data to get the right price for properties. For landlords, it also says it takes away the risk of voids so the buy-to-let investor receives rent each and every month for the entire time they partner with Residently. It even offers extras such as handling maintenance, in-house housekeeping for tenants such as cleaning, laundry and fast internet included. For landlords, the company uses market-level data which feeds into its pricing algorithms. A company tenancy is then agreed with the investor at a fixed price. Residently then advertises and markets the property, finds the right residents and manages the properties. For tenants, they get new or newly-updated properties with internet installed and can choose to move from Residently property to Residently property, which cuts out additional paperwork. It does not describe itself as a letting agent, but says that it is creating a new category which is different to the estate agent or letting agent model. If you think of how Airbnb, Spotify and Deliveroo have changed their relevant sectors for the better, Residently aims to bring that level of service to the rental sector. It is digitising how tenants find, set up and run a home to make it as easy as ordering a pizza or taxi online.
Trevor Stunden, Residently chief commercial officer, said landlords can find it is risky and costly to let their properties. They want a regular income which is paid on time, tenants who are reliable and the minimum of fuss. This is what Residently is committed to providing. All tenants are vetted, which eliminates the risk, ensuring that reliable tenants live in their properties.
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