The team behind Student Tenant are launching a more general lettings platform for landlords and tenants in five weeks’ time.
Click Tenant will be similar to Student Tenant, which is a platform linking up university students and landlords, but will cater for the wider residential buy-to-let market across the UK.
Danielle Cullen (pictured), managing director of Student Tenant, said: “When Philip Hammond’s letting fee ban takes place agents are going to pass all their costs on to landlords and they will not be able to charge admin fees to students anymore.
“Therefore there’s going to be a gap in the market for something cost-effective and advanced.
“We’ve already got the staff and a development team so we won’t have the high running costs of a high-street agent.”
At the initial stage Click Tenant will utilise Student Tenant’s existing database of student landlords, some of which have private properties aimed at families and young professionals already.
As an incentive Click Tenant will let landlords using the service for the first time do so for free, only charging them when they renew their tenants with new contracts.
Tenants will also be charged a fee until the letting fee ban takes place, which Cullen reckoned won’t be for at least a year.
The firm’s ambitions don’t end there, as in three to four months it will launch a build to rent platform to sit alongside the other two.
Cullen explained: “It’s going to be higher end – similar to Mr and Mrs Street [a platform for luxury hotels].
“We’re going to launch a separate site but it so far doesn’t have a name.”
Once this is all up and running the plan is to convert what is currently just Student Tenant into a group with three businesses sitting underneath.
Student Tenant received funding from private investors last year and will be raising again in the summer to fund these ventures.
Cullen, at 27, is one of the industry’s youngest managing directors and is a native of Canterbury where Student Tenant is based.