A new web platform aims to help responsible landlords to achieve 5-star status and promote their properties free of charge.
Using TenancyTrust, landlords can invite reviews from tenants and build a bank of testimonials over time. Unlike other review sites which focus on tenant complaints, Tenancy Trust allows good landlords to use reviews in a positive way to attract the best tenants.
Landlords, letting agents and other service providers can post details of properties and services free of charge.
Tenancy Trust is also 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.
Jon, who has a portfolio of residential properties in the Midlands, came up with the idea while researching the property market as part of a post-graduate business course at the University of Northampton.
He explains: “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.”
Comments (4)
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Hi Woodentop, thanks for the comments – these are exactly why we set up Tenancy Trust. We’ve all heard the horror stories on both sides but we truly believe most tenants don’t leave ‘under a cloud’ and the overwhelming majority of both tenants and landlords are decent.
According to the English Private Landlord Survey 2018, 60% of landlords returned security deposits in full and the English Housing Survey (Private Rented Sector 2018) states 84% of private renters were ‘satisfied’ or ‘very satisfied’ with their current accommodation.
This is a good news story that should be shared!
Since we believe most tenants and landlords are good, we do allow both tenants and landlords to review each other already. The aim is to reduce the stress for both parties by increasing the trust and accountability between the two. We also have a section for tradespeople to list their services and the areas they serve.
Tenancy Trust is 100% free to use and there’s no catch, as landlords and tenants ourselves we honestly think the platform can really help improve the quality of the Private Rental Sector, for everyone.
We’d love to have you as a member, so please do sign up, list your properties – for free – and allow reviewed and trusted tenants to find them.
The Tenancy Trust Team
You are basically offering a form of guarantee of good conduct by landlords to new tenants, from old tenants. Best of luck on that one, as the majority of old tenants leave under a cloud.
Another Free platform. Nothing is free, its costs so what is the catch?
The courts are filled with good landlords trying to get back properties. The problem isn’t landlords confirmed by The Property Ombudsman annual reports, its the tenants with 44,000 year on year court processing excluding those that left when told.
Now if you could provide a platform on tenants, then landlords may be interested BUT then only if it can be trusted.
Landlords in Wales have just been stuffed by the Welsh Government with ban on serving any notice to end a tenancy over the next 6 months (effective 24th July 2020) plus. The notice period must run for 6 months ALL notices (except ASBO which will be 3 months). Example Sec 8 Rent Arrears, issued on 23rd December will expire 23rd June 2021 AND then the months of court process in addition to the two months of arrears before the notice can be issued (23rd October 2020). Hopefully EYE will run a story on this tomorrow for readers.
This is a good but not a novel idea. The trust insight is relevant and it is striking how little tenants know about landlords before moving in. I wish this chap well but OMG the network effects are hard to create.