A new app that claims to ‘replace lettings agents’ has launched a crowdfunding bid to get the cash it needs to exploit the property management market.

RentiD has already raised £231,000 of its £325,000 target from private investors and has now gone public with the offer that will help it market the app.

The end-to-end platform promises to save landlords time, money, hassle and risk by replicating the expertise of letting agents without the management fees.

Landlords pay an annual subscription to access the digital assistant web app and services while tenants can access RentiD for free and are encouraged to promote it to their landlords.

RentiD can market properties, manage money, invite tenants to store documents, helps landlords keep on top of their to-do list, and helps tenants resolve simple maintenance issues and report problems.

Guided digital assistance allows landlords comply with changing legislation and best practice while the app also encourages direct communication between landlord and tenant to foster better relationships.

Cross-selling

The start-up plans to generate revenue by up-selling services through a partner network of complementary service providers such as legal firms, mortgage brokers and property management companies.

Through them, it can help arrange professional photographs and 3D virtual tours, annual gas safety inspections, tenant referencing, rent guarantee insurance and managed viewings.

CEO Dev Singh (main picture) says property management software can save a landlord up to 50% of the estimated 48 hours per year (double if you have to find new tenants) it takes to manage a rental property end-to-end.

He adds: “Whether it’s helping landlords get organised, automating key tasks like rent management or pulling together disparate systems into one convenient place, it’s easy to see how software can improve processes and productivity – especially for the lone landlord.”

RentiD’s TV ad is now being broadcast.