A new hybrid estate agency due to launch later this year has said it expects to succeed in breaking into the private rented sector where other hybrids including Purplebricks have so far failed to make substantial progress.
Speaking at last night’s PropTechDen pitching event organised by LiFE Ventures at Google’s start-ups bootcamp in central London, Acccommodation.co.uk founder Aaron Short (pictured, above) said hybrid estate agents had so far not made much headway in the lettings market.
He also cited Purplebricks, which he said only listed approximately 4,000 rental properties but had nearly 21,000 sales properties in the UK.
“Purplebricks is growing very fast but the rental part of its business doesn’t seem to be moving as quickly as the sales part, which is maybe because lettings is such a long term play,” he said.
“The way we will stand out from Purplebricks is to have local accommodation managers recruited from local letting agents, and what they will do is build relationships with our landlords.”
Aaron also said Purplebricks is not appealing to ‘generation rent’ and that his new platform will do so with its more ‘whole process’ tech approach and app, he claims.
Accommodation.co.uk was started up last year and at launch will have spent 18 months getting ready to go to market. It is due to launch officially during the final three months of this year, although its website is already live.
It offers landlords an online property and tenant management suite, while renters get a mobile phone app and welcome pack. But it will advertise its properties traditionally via Zoopla, OTM, Rightmove and SpareRoom.
The company says it is also due to offer accommodation through its own property portal in 51 cities across the UK.