Online-only lettings platform Rentd, which launched in June 2020, has raised £250,000 to fund its expansion.

It charges landlords £799 including VAT per property for a ‘tenant find and move-in service’ regardless of the total rent or sizes of the property, or around £1,000 less than the average commission for a whole house in London, it is claimed.

Lead investor in this round is Wealth Management Partners, owners of global advisory firm, the AHR Group.

Based in Ealing, Rentd has launched initially in London and also has some inventory – with plans to go national and international later.

It was established in 2018 by former prime central London property consultant Ahmed Gamal with co-founder Lawrence Hansford.

After three years spent developing the ‘revolutionary’ software that underpins the platform, Gamal says his service both saves landlords money but also enables landlords and tenants to save time, ensuring a more reliable tenant-find process.

Its fee includes securing tenants for a property via its own and portal listings, physical viewings management, 3D online viewings, offer management, referencing, moving in, Right to Rent checks, contract paperwork completion as well as s deposits and initial rent collection.

“Up until now, the process of completing a rental transaction from start to finish has been protracted and clunky for both the tenant and the landlord, with it taking a considerable amount of time and effort to gather the fragmented components required from both parties,” says Gamal (pictured).

“We’ve spent three years developing the proposition in order to change this and the result is the UK’s first rental platform combining these various components into one super slick user experience.

Source: www.thenegotiator.co.uk