A new rent review platform called MarketRent is being launched ahead of the Renters’ Rights Act.

MarketRent has been founded by Rajeev Nayyar and Duncan Careless, the co-founders of Fixflo.

It aims to help letting agents to run rent reviews through an “evidenced and defensible process” following the changes in rental laws.

Rent reviews

Rajeev Nayyar, Chief Executive of MarketRent, (pictured) said: “Rent reviews are becoming more important, more visible and more operationally demanding.

“For many agents, the current process is still too manual, too fragmented and too hard to evidence if it is challenged.

“We built MarketRent to solve that practical problem. This is about helping the industry run rent reviews in a more consistent, efficient and defensible way, with better communication between agents, landlords and tenants and with a clearer record of how decisions were reached.

MarketRent is about helping the industry run rent reviews in a more consistent, efficient and defensible way.”

“From 1st May we believe the industry needs a purpose-built workflow for rent reviews, and we are pleased to be opening the Early Adopter Programme ahead of full launch in the coming weeks.”

He explains that MarketRent is designed to help communicate proposed rent increases more clearly, and maintain a structured record of the process from start to finish.

Providing clear evidence and a structured process should reduce the risk of an appeal to the First Tier Tribunal.”

For some agents, rent reviews are still handled through spreadsheets and email chains. MarketRent aims to replace that approach with a structured workflow that includes rent review negotiations, to “save time, improve consistency and strengthen the evidence behind each review”.

David Smith, partner at Spector, Constant & Williams, said: “The Renters’ Rights Act will make rent reviews far more important for agents and landlords.

“Providing clear evidence and a structured process should reduce the risk of an appeal to the First Tier Tribunal which is of particular importance given that if a rent increase is appealed any change will only take effect from the date of Tribunal determination.”