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Online estate agency buys referencing firm off retiring founder

99 homes, which currently lists 471 properties for sale, says the purchase is part of its plan to become a 'one stop shop' for house sales and renting services.

Sheila Manchester

Online estate agency 99home has bought tenant referencing company, LandlordReferencing.co.uk and RentSafeUK Ltd following its founder’s retirement.

99home, a one-stop property shop, offers residential and commercial property sales, lettings, property management, mortgages, and conveyancing – and clients now have access to in-house referencing and insurance services.

Earlier this year, like many other ‘online-only’ agents which had originally launched with ‘up-front’ fees, it adopted a traditional ‘no fee, no sale’ approach in parallel. After the larger hybrids such as Yopa and Purplebricks, 99 Home rivals the other online agencies such as HouseSimple and Emoov by listings. It has 471 properties for sale and 97 to rent on Rightmove.

Landlordreferencing.co.uk and RentSafeUK, provide landlords and tenants with comprehensive tenant referencing, credit checks, insurance products for landlords such as rent guarantee, tenant content insurance, portfolio insurance, and appliance cover.

99home landlords can market their property on Zoopla, OnTheMarket and Rightmove on a no-let-no-fee basis by using the 99home platform and organise all their tenant checks and insurance.

Vijay Vashistha, co-founder and COO of 99home (left) said, “With this acquisition, thousands of RentSafeUK and landlord referencing clients have access to market their property on 99home’s platform for the tenant-find services of £49.

“We are moving towards a collaboration of PropTech, FinTech, InsureTech and BlockChain platform.”

Paul Routledge, who founded RentSafeUK and LandlordReferencing.co.uk in 2010 and is a landlord himself with a 100-property portfolio, is retiring from the business but he will continue as an active advisor and stakeholder.

November 26, 2019

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