An online service set to do for home renting what Airbnb did for the holiday business has launched throughout the UK.
RentalStep allows both tenants and landlords to leave reviews of each other and their properties so everyone can make more informed decisions about future moves.
But that’s just the beginning what makes RentalStep a true rental revolution is its Tenant Passport.
The Tenant Passport addresses one of the underlying problems of today’s rental market landlord confidence and the cost of having to pay for pricey references.
This free service allows renters to log their verified payment history online and every punctual rental payment will improve their credit score the key to everything from getting a mobile phone contract to securing a mortgage, and that first step on the property-owning ladder.
“Our revolutionary new platform that connects great tenants and great landlords has launched across the UK and is set to revolutionise the way we rent.
“Our partnership with Experian means we can offer free credit scoring and ID verification for both tenants and landlords” said Mike Georgeson, founder of RentalStep.
He added: “Our unique, secure Tenant Passport allows tenants to show a landlord just how good a tenant they are, whilst giving landlords access to a pool of verified tenants.”
The Tenant Passport, which RentalStep guarantee will remain free for tenants, means renters’ online reference will be only a click away. The Passport includes a record of rental payments with each payment record sent to Experian and present and past tenancies.
RentalStep has also introduced the new concept of a Tenant Score, which makes it simple for landlords to assess would-be tenants’ suitability for a property.
Meanwhile, landlords will be able to store all of their documents for the tenancy online and share them with their tenants.
The company, brainchild of entrepreneur and landlord Mike Georgeson, has already won a massive vote of confidence, taking the £150,000 first prize from a Startups.co.uk competition following a real-life Dragon’s Den-style interview with Worth Capital.
RentalStep provides great tenants and great landlords with a win-win situation.
The only losers are likely to be letting agents, who will have to start thinking twice about extracting hefty fees for matching the best tenants with the best landlords.
The Tenant Passport provides a real lifeline to tenants keen to improve their credit score and reassure landlords in a market where competition for decent lettings is increasingly fierce.
And in an industry not known for its openness to going online, a service has finally arrived that reflects the reality of Generation Rent, bringing high-quality rental services direct to the digital generation.