Letting agent Bunk has partnered with Nationwide Building Society.
Nationwide’s investment into Bunk is the latest deal from the £50m venturing fund set up over a year ago to enable the society and start-ups to share knowledge and expertise.
Tom Woollard, chief executive at Bunk, said: “We want to build something the rental market has never seen before.
“Landlords are facing reduced margins coupled with increased regulation and there has never been a better time to make their lives easier through the use of technology.
“Bunk is there to make the process less stressful and more enjoyable for both renters and landlords.
“Bunk’s mission is to make renting work for everyone, and we’re thrilled to have a partner like Nationwide backing our vision.”
Bunk processes tenants’ references and completes the tenancy set-up within the site.
Once the properties are listed landlords can view them on a dashboard, which also notifies them when a deposit and rent has been paid.
Bunk also allows tenants and landlords to correspond within the site, so enquiries such as expressing an interest in renting a property and maintenance requests will go directly to them.
Tony Prestedge, deputy chief executive at Nationwide Building Society, added: “Nationwide is one of the biggest buy-to-let lenders in the UK and we have long campaigned to improve standards within the rental sector for both tenants and landlords.
“Bunk is combining the latest digital technology backed up with human service to not only offer a seamless digital experience but also reduce friction in the rental market between tenants and landlords.
“Many landlords choose to manage their portfolio on their own, the service that Bunk offers could support them, ensuring they’re on top of their obligations and providing a better service to their tenants.
“They are a natural fit for our Venturing Fund investment, which seeks to fund start-ups that are focussed on making people’s lives easier through smart insights and fair practice.”