New app aims to ‘modernise’ the rental process ...

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04 June 2020

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New app aims to ‘modernise’ the rental process

A new app has been launched with a view to shaking up the traditional rental process driven system of renting.

The online platform, which is now available to download for free on the Apple app store, has been designed to offer a service which is safe, secure and seamless.

The app allows users to search, view and conclude the entire rental process in a matter of days.

Landlords pay a one-off £799 fixed fee for a comprehensive listing of a property and once a tenant selects their property, decisions can be made with real-time negotiation; where landlords have the opportunity to accept, decline or counter-offer a tenant’s bid.

For tenants, there are no fees whatsoever to use the app, while the 360 technology by Matterport allows renters to virtually walk-through a property.

If required, all in-person viewings are managed by Rentd, and all credit checks, referencing, digital signing of rental agreements, and a full inventory along with an inventory clerk check-in are provided.

The app also has Reposit built-in, meaning tenants can pay efficiently ‘in app’ and pay one week’s non-refundable deposit, instead of the traditional six week’s deposit.

Ahmed Gamal, founder of Rentd, said: “We’ve all seen how technology has helped the property industry in recent months, but we believe that the Rentd app will accelerate the desire from landlords and tenants to modernise the rental process even further.

“The Rentd app manages transactions in a way that we might be familiar with when using Uber, 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.”

Gamal added: “Of course, there has been a lot of talk about pent-up demand as the property market re-opens, but we have felt this first-hand, with landlords and tenants frustrated by the traditional process of getting their property rented or having to jump through lots of hoops to find a property which suits them, often taking months.

“At its fastest, from listing to credit checks and agreed offers, landlords and tenants can be matched in less that six days.”

“Despite the property market freeze due to COVID-19, since coming online in March 2020, the Rentd app has seen users grow exponetially; as property owners and renters have used the time to plan their next move.”

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