Online lettings platform offers ratings and reviews for tenants and landlords
HomeRenter, an online lettings platform, has launched a service for tenants and landlords to rate and review each other after one month of engagement and again at the end of a tenancy.
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.
It found both tenants (81%) and landlords (88%) expressed a desire to be able to rate and review their counterparts, encouraging a respectful and transparent relationship.
Will Handley, chief executive of HomeRenter, said: “In a connected world, consumers have become accustomed to being able to read ratings and reviews, from holiday lets to taxi rides, to inform all major purchase decisions.
“However, in the rental sector, this concept has scarcely landed. Choosing where to live is an incredibly important decision which no-one wants to get wrong”.
“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 to get in shape for 21st century renting. Having a review system in place facilitates a more transparent market place for both tenants and landlords.”
The five star rating system means tenants can rate the condition of a rental property. These focus on metrics such as value for money, maintenance, transport and how responsive landlords are to issues raised.
Ajay Jagota, founder of insurance-backed deposit-free renting service, Dlighted, said: “It’s interesting to see a Tripadvisor-style rating and review model incorporated into an online letting site such as HomeRenter.
“I’ve been a little sceptical of some previous attempts to build databases of rated lettings properties as standalone websites, but it will be interesting to see how this fares in a transactional site.”
“What’s indisputable, however, is that both landlords and tenants are looking for new and alternative solutions to the traditional ‘referencing plus security deposit’ approach.
“We created the ‘Trusted Tenant’ system which allows landlords and letting agents real insight into their prospective tenants’ renting track record, financial commitments and insurance claims history. But there is nothing for tenants to be able to vet their landlords.”