Landbay has created an Airbnb-style rent comparison tool, allowing tenants and landlords to check how much they are paying and charging.
The online application, launched in tandem with property group Zoopla, allows users to compare their rates against others in the same area.
John Goodall, chief executive and co-founder of Landbay, said: “The UK is in the midst of a housing crisis and a severe supply/demand imbalance, meaning the rental property market is buoyant. Together, Landbay’s Rental Index and the Rent Check tool will give both tenants and landlords a simple way of accessing data from across the UK, not only providing an in depth view of the market, but helping inform their next move.”
The tool maps annual and monthly trends in advertised rents by geographical location and bedroom number, and a postcode search function allows users to access data showing how rental movements for a specific property type have changed over time.
Goodall added: “In times of low interest rates and a lack of home ownership and affordability, we’re pleased to be able to offer people a way of affirming the rent they are paying in their region.”
Launched in 2013, Landbay is a property-backed peer-to-peer investment platform.