Posts with tag: rental property listings

New Rental Property Finding Website Inspired by Airbnb and Tinder

This week, a new rental property website launched for landlords and tenants.

Ruumi is a mix between Airbnb and Tinder. It matches users to compatible housemates and rental properties based on their interests, lifestyles and living preferences.

The free service allows users to provide references from friends and landlords to build their profile, which can be viewed by prospective housemates.

For landlords wishing to list on the site, there is a post a place section and the business hopes to be as simple as Airbnb.

Jack Archer, a 29-year-old entrepreneur, founded the site.

He says it can be frustrating for tenants to attend countless viewings and go through endless property searches to discover they have nothing in common with their new housemates, and that is what Ruumi is trying to avoid.

Ruumi was inspired by Airbnb and focuses on simple design, with the user experience central to the whole idea.

Archer says: “Who you live with matters just as much as the place, but somewhere along the way, this has been forgotten. We want to put people back at the heart of the process by building a community of happy renters and making it fun, free and easy to connect with the right people.”1

The site is now available on desktop, tablet and smartphone and has initially launched in the East London boroughs of Hackney and Tower Hamlets, with plans for a full roll out over London in the near future.

The site can be viewed here: http://www.ruumi.co.uk

1 https://www.landlordtoday.co.uk/breaking-news/2015/10/is-there-ruumi-for-another-rental-property-finding-website

Lettings Auction Site Seeks Investors

Published On: September 24, 2015 at 12:55 pm

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Categories: Landlord News

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A lettings auction website for landlords and tenants is seeking new investors.

Lettings Auction Site Seeks Investors

Lettings Auction Site Seeks Investors

AuctionLets, which launched in January 2014, currently has no deals or properties on offer.

However, the firm’s CEO, Spencer Rose, states: “Our site has been successfully tested with great results.

“An increasing number of bids have gone through and both tenants and landlords have been happy with their service and the outcome.

“We know our concept works, we know landlords and tenants want it, but what we now need to do is spread the word in order for us to develop the business further.

“This is why we have decided to actively seek investors whether it’s via crowdfunding or through private investors.”

Landlords can upload their vacant properties to the site and prospective tenants can make bids. All homes are advertised on Rightmove.

Rose explains the concept: “Tenants bid for the property in a legally binding online auction and have the ability to bid on multiple properties until they are successful.

“To avoid signing up for more than one property, prospective tenants are only able to be the current highest bidder on one property. Once they are outbid they can move on to another property.

“Landlords decide a realistic minimum rent per month and simply sit back and wait for the bids to come in. They also control the end time of the auction and move-in date.”

He adds: “Tenants and landlords have been in the hands of agents, whether these are online or with a high street presence, for far too long now. It’s time for landlords and tenants to take a bit more control.”1

Regarding the site’s testing, a spokesperson says: “The testing was really for the functionality of the site. The concept has also been tested and they have actually done business and have the recommendations of both the landlord and tenant as to how good it was for both of them.”1 

1 http://www.propertyindustryeye.com/lettings-auction-site-to-look-for-new-investors/

New Service Matches Referenced Tenants to Properties

Published On: September 22, 2015 at 10:25 am

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Categories: Landlord News

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A new service has launched that references and credit checks prospective renters before property viewings. It then matches these tenants with suitable homes uploaded to the website by member letting agents.

Tenants Plus says the site improves efficiency and cuts costs for agents during the renting process.

The service also benefits tenants, as they will not lose holding deposits paid after viewings due to their references failing.

New Service Matches Referenced Tenants to Properties

New Service Matches Referenced Tenants to Properties

Tenants and guarantors must pay £17 + VAT upfront for a reference and before they can see the available properties or go on viewings.

Founder of Tenants Plus, Wayne Treveil, has previously worked at Acorn, Square Mile Property Management and the Happy Tenant Co.

He explains the new idea: “No system was available in the market that helped prevent letting transactions falling through due to failed referencing.

“After spending 15 years working in the lettings and property management industry, and being concerned about this situation, I have developed a service that provides the solution.

“Currently, referencing and credit checks are carried out after a viewing has taken place and an offer made. At this point, the tenant has paid a holding deposit to secure the property as well as administrative and referencing fees that are generally non-refundable.

“If the tenant fails the referencing there are significant delays and cost implications for the letting agent.”

Tenants Plus notifies agents of pre-referenced tenants before viewings take place and match them to the agents’ available properties.

Treveil adds: “If an agent has an offer from a Tenants Plus tenant, it’s money in the bank.”1

He emphasises that Tenants Plus is not a property portal. The only people that can see available homes are active renters who have registered to find a property through the service.

He says the website already markets over 1,500 rental properties and receives new agent registrations every day.

Agents must create an account to set up a company profile. Then, they can either manually upload properties or use an automated data feed.

At this point, they are ready to receive pre-referenced tenant leads from renters that have already been matched to their properties.

Agents are not charged for tenant leads, but must pay to access the tenant’s report and associated documents.

Take a look at the website here: http://www.tenantsplus.co.uk

1 http://www.propertyindustryeye.com/service-launches-matching-pre-referenced-tenants-to-agents-properties/

 

 

 

 

 

Rent Rises Drop for First Time This Year

Published On: September 22, 2015 at 9:23 am

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Categories: Landlord News

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The amount of letting agents reporting rent rises has dropped for the first time this year, according to recent research from the Association of Residential Letting Agents (ARLA).

ARLA’s August private rental sector report states that supply has also fallen to levels seen in June, following a surge in July.

Rent Rises Drop for First Time This Year

Rent Rises Drop for First Time This Year

The typical ARLA agent had 178 properties for rent in August, compared with 189 in July.

However, the amount of prospective tenants in the private rental sector rose slightly in August. Letting agents reported an average of 36 house hunters registered per branch, up from 35 in July.

Just three in ten (33%) agents experienced monthly rent increases in August. This is down from 37% in July.

In the South West, two out of every five agents (42%) witnessed rent prices rising in August, up four percentage points from the previous month.

Only 12% of agents reported rent price growth in the North West during this period.

Tenants in Wales are also paying more in rent, with the amount of landlords putting prices up increasing by three times from July. In August, 36% of letting agents in Wales saw prices rise, up by 25% from July, when only 11% of agents reported growth.

In London, the number of homes available to rent continued to decrease in August, driving demand levels higher and putting added pressure on hopeful tenants.

Only 110 properties are registered per letting agent branch in the capital, down from 117 in July. Finding a rental home in London is becoming increasingly challenging.

Managing Director at ARLA, David Cox, comments on the research: “Our findings this month are good news for the majority of tenants, as less are experiencing rent hikes.

“However, a third of agents are still seeing landlords pushing rents up, which reflects the sorry state of affairs in the market.

“With increasing pressure on the dwindling supply of housing and the number of house hunters growing, rent increases are unfortunately very common – as one in three tenants are experiencing.

“Despite the fact they have fallen this month, it is likely they will go back up again over the next few months.”1

1 http://www.propertyindustryeye.com/rent-increases-fall-for-first-time-this-year-says-arla/