Although landlords may baulk at the cost, Rentd includes all aspects of finding tenants including online marketing, referencing, credit checks, accompanied viewings, rent negotiations and inventories.
A virtual letting agency that enables landlords to manage tenant finding and on-boarding via a smartphone app has launched today for London landlords with plans to expand into Manchester, Edinburgh, Glasgow and Dubai.
Rentd is only available on via the iPhone App Store where it can be downloaded for free, but charges landlords a fixed fee of £799 per property claiming to find tenants and sign them up in under six days.
The app charges the fee after the tenancy has been signed, sealed and delivered and in return handles and organises the whole tenant on-boarding process.
This includes property marketing, unlimited virtual and accompanied tours, rent offer negotiations, references and credit checks, rental agreements, deposit collection and an inventory service. Co-founder Ahmed Gamal says that, although several websites and digital services offer some of these services, his is the first to encompass them all in one app.
This includes collecting the first month’s rent, while tenants are able to use Rentd to hail an Uber taxi to take them to a viewing, and direct them to it via Waze.
Gamal and co-founder Lawrence Hansford took three years to develop the app and say they feel there has ‘never been a better time to shake-up the market and remove the shackles of the historical way that residential property rentals still operate’.
“The Rentd app manages transactions in a way that we might be familiar with when using eBay or PayPal; these are all breakthrough examples of businesses which have disrupted the status-quo and have brought greater ease and confidence to their respective sectors,” says Gamal.
Rentd soft-launched in February and has been bug-fixing since then prior to the public launch today, but says it already has a substantial number of users. It also offers a full property management service, details of which have yet to be announced publicly.
For more information visit www.rentd.co.uk download the app.