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TripAdvisor for the rental market

The Negotiator

Will Handley, HomeRenter, image

HomeRenter, an online lettings platform, has launched a ratings and reviews service. It enables both tenants and landlords to review each other after one month of engagement and then again at the end of a tenancy. HomeRenter aims to modernise the rental market and align it with the likes of TripAdvisor and Airbnb.

Recent research by HomeRenter showed that 81 per cent of tenants and 88 per cent of landlords expressed a desire to be able to rate and review their counterparts, encouraging a respectful and transparent relationship.

Through the ratings and reviews service, landlords can evaluate their previous and current tenants. ‘Mid-tenancy’ ratings are based on measures such as timely rent payment; any noise or neighbour issues; treatment of property and promptness in reporting issues.

The ‘end of tenancy’ ratings are similar, but include scores for the condition of the property when the tenant moves out. These ratings are then factored into the tenant’s ‘HomeRenter Tenant Score’ which is visible on their profile page on the site.

Will Handley, CEO, says, “With people now renting for longer, it is even more essential that tenants are able to check their landlord’s previous letting history. And vice versa. What’s more, the traditional referencing and security deposit model for tenants is antiquated and in need of a radical shake-up. A review system facilitates a more transparent market place for both tenants and landlords.”

www.homerenter.co.uk

April 25, 2018

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