A new proptech offering from compliance company GentRentr could be game-changer for landlords and agents after it received half a million pounds of investment.
Landlord licensing, which affects certain landlords in selected areas of the country and will be mandatory for all HMO (houses in multiple occupation) landlords from October this year, as well as ongoing changes in regulatory compliance in the industry can be a minefield for landlords.
Helping to make the process simpler and more straightforward, the latest offering from GentRenr enables landlords and agents to input and audit all the details of their entire portfolios broken down by postcode, and the system ensures that each property is compliant with local regulations.
The company has also just received more than £500,000 in funding from a group of backers including Life Ventures, EPIC Private Equity LLP and private individual investment, which is expected to boost the company’s offering and help GentRentr achieve its aim of improving the rental market by ensuring landlord compliance – and exposing the rogues.
Saving landlords money and time
GetRentr also works with the National Landlords Association and various letting agents, and will use the added investment to develop and expand its technology.
Orla Shields, CEO of GetRentr, said: “At GetRentr our vision is to raise the standards of rented accommodation through the innovative use of data and technology, whilst also offering letting agents and landlords significant savings and revenue opportunities by automating complex, error-prone compliance processes.
“Our pioneering data and technology platform delivers transparency, measurable impact and strong stakeholder returns – things which will set us apart in terms of our ability to recruit the best talent, scale the business globally and enjoy sustainable success.”
Other proptech offerings
Proptech – or property technology – is becoming increasingly important and more mainstream in the housing sector. Recently, the government granted £100,000 to six proptech firms to help them develop their offerings towards making tenants’ lives easier, while proptech lending platforms are changing the face of the mortgage industry.
Smart home technology is also a rapidly rising trend and is a way for landlords to provide a unique selling point for their properties as competition in the market increases.