A new online lettings agency is offering a ‘digital assistant’ to landlords and tenants.
RentID, based in Reading, Berkshire, says that its management platform connects landlords and tenants, providing a service offering major savings on traditional agencies. Tenants can use it free, for tasks such as checking contracts and reporting repairs.
The firm says that with RentID, landlords can take back control of their own properties, but “still be backed with full letting agent support”.
It says: “Using this innovative digital assistant, they can easily manage each step of the lettings process, from advertising on leading agency-only platforms such as Rightmove and Zoopla to identity and reference checks as well as ongoing maintenance, rent payments and more.
“In fact, the platform replicates all of the expertise of a traditional letting agent – without the hefty management fees.”
Packages start at £120 plus VAT per year, which RentID says is “less than the cost of just a listing with some popular online letting agents”. Packages come with Rightmove and Zoopla listings.
RentID says it could save landlords over £1,000 a year compared with other agents.
On its site, it says: “If you’re a landlord currently with a local high street letting agent, you might be experiencing the upwards price creep of their fees eating into your hard-earned profits. Or maybe you are feeling you’re not getting the value you expect?”
It adds of its digital assistant: “And with all of the other benefits associated with self-management, it’s a model that could seriously disrupt the industry in the coming months and years.
“In fact, those with an interest in the future of the lettings market would be well advised to watch this space.”
Comments (1)
Ah, another one of those hair brained ventures selling on the idea of a cheap service to the consumer. “We can do it for less syndrome, IT can do it all for you!!!”. Clearly hasn’t a single clue of what is involved with service management or what is on the horizon for licensing in England (soon to follow Wales regulations) which will scupper this business venture as the landlords will flock to ‘managing letting agents’. In Wales this venture is outlawed service for non-licensed managing landlords. Someone hasn’t done their homework, which should be worrying for anyone wanting to get into partnership.
“In fact, those with an interest in the future of the lettings market would be well advised to watch this space.”
In the insolvency press?