Rentd’s solution lays down yet another challenge for traditional agents
As well as being a journalist and editor, my day job is helping founders of property technology SMEs grow their proposition. It is an interesting role as I get into meetings with complete strangers each and every day, all of whom are looking to digitally rewire how things are done in real estate.
Some years ago at such a meeting, I met the ever-smiling Ahmed Gamal. Ahmed is the founder of Rentd. As we talked, I thought to myself that this is a man on a mission. Turns out I was right. He wanted to bring speed, transparency and drive efficiencies into the landlord and tenant process, as many landlords in the PRS let properties themselves.
The genesis of any new software solution to an analogue process, in a nutshell, starts with a founder. In this case, Ahmed decided one day that he saw a problem, which is addressed as such: “Rentd’s key mission is to break through barriers which exist in today’s rental market for both landlords and prospective tenants by streamlining the cumbersome rental process … Rentd replaces high agent fees with a fixed fee to landlords only, only payable once property is let, and no renewal fees.”
Ahmed felt that advanced software if coded correctly could power the finding and moving in part of the landlord-tenant journey. So, his digital solution to the problem he wants to address is to have landlords and tenants use Rentd.
“Rentd…a digital platform that takes renting into the virtual world, thus challenging a market currently dominated by high street estate agents and DIY online platforms. The platform empowers landlords and tenants to take back control of their rental journey, in what is currently a market dominated by high street estate agents and DIY online platforms.”
Like all true innovators, Ahmed put a new twist on a very old problem – communication in the lettings process.
“Rentd addresses the lack of transparency and trust in the industry by opening lines of communication for tenants and landlords to negotiate rent, terms and conditions, directly with one another.”
By building a digital channel for the two parties to talk at speed, the grindingly slow process of letting can move forward much smoother, and much quicker.
After an initial meeting with Ahmed, I have been following his journey with great interest. Over the years I’ve watched him work diligently, trying to get the sort of traction that is often hard in the B2C space.
With a market capitalisation of £5 million, Ahmed Gamal and Lawrence Hansford, and the rest of the team at Rentd, have raised £250k of investment to keep the business moving forward, continuing on their quest to offer a brilliant user experience for the tenant and the buyer. The investment comes from Wealth Management Partners.
So, because letting agencies service a swathe of landlords, they themselves use CRMs and other software to do this, like Reapit for example. Could the majority of DIY landlords out there who have only a single property to let utilise Rentd as their go-to solution?
Clearly from my own viewpoint, as an ex-agent and indeed as a former landlord who started dealing with my own tenants back in the late 1980s, the concept of not using a letting agent and having an app to do it for me would seem a sensible idea in the 2020s, as there is definitely a large addressable market.
Rentd is available on the app store. When you see the tagline, “Rent reimagined” you’ll know you’re in the right place.
PRESS RELEASE: Inventory Base Academy expands training options to equip clerks with business skills
Leading software provider releases the next phase of training for property and inspection report providers
Inventory Base Academy has provided training resources and CPD accredited courses since 2019.
Delivering accessible, relevant, and unrivalled support and training to inventory clerks and property professionals, Inventory Base Academy has developed a supportive learning environment to enable the continued development and standardisation of the reporting industry.
As part of their commitment to upskill providers, their latest course “The Inventrepreneur – How To Start Your Own Inventory Business” has now been released.
With an ever changing and fast paced property market, compliance dominates the rental sector. This includes increased legislative oversight such as the recently announced Decent Home Standard, the changes to the law governing smoke and carbon monoxide alarms that bring the social housing sector into scope and the impending changes that will see Section 21 removed.
Inventory training has to respond to these challenges by delivering on key learning points that not only protect the landlord’s assets and the tenants deposit, with detailed and consistent reporting, but equally supports the agent’s own service delivery.
The new course is aimed at helping both new and experienced inventory providers to understand the required business processes and acumen behind their service with vital and active support built in.
With over 70 lessons, information points and topics, the self-paced home study material covers:
- The Lettings Industry Landscape
- Marketing to Landlords, Agents & Tenants
- Sales Forecasting & Pricing Reports
- Social Marketing & Branding
- Business Structure
- Continuous Professional Development
- Becoming a Successful Inventrepreneuer
It provides not only the legal requirements of running a successful business, it teaches providers how to create the right impression when developing leads, how to get the most out of their social media presence and build the framework that will start their service business off on the front foot.
Sián Hemming-Metcalfe, Head of Training and Development for Inventory Base Academy said:
“It’s clear for all to see – the property market is changing and at an extremely rapid pace. Whether you agree or not, the Government is intent on implementing what it sees as improvements to ensure tenant safety and hold the PRS even more to account.
The launch of the levelling up plan, removal of Section 21 and a national landlord register are yet more examples of the type of legislation the rental sector is now expected to implement and manage.
We want to help providers grasp the opportunity to build and support their client base by supporting them to respond to these challenges.
By equipping themselves with the know-how to structure their own businesses, clerks and budding Inventrepreneurs can develop key skills, increase their knowledge base, and actively engage with the property industry.
Ultimately, the aim is to build a better understanding of the benefits of inventory and property related reports and help providers instil landlords and letting agents with the confidence to commission their services.
This much needed training, support, advice and guidance is just one of the benefits of training with Inventory Base Academy”.
Inventrepreneur – success from consistency
Access the new Inventory Base Academy course: The Inventrepreneur – How To Start Your Own Inventory Business.
Andrew Stanton is the founder of Proptech-PR, a consultancy for Founders of Proptechs looking to grow and exit, using his influence from decades of industry experience. Separately he is a consultant to some of the biggest names in global real estate, advising on sales and acquisitions, market positioning, and operations. He is also the founder of Proptech-X Proptech & Property News, where his insights, connections and detailed analysis and commentary on proptech and real estate are second to none.