SPCE, a student lettings app, has launched in the hope of addressing issues faced by university students and landlords in the rental market.
The app helps university-goers to find a room or entire property to rent, whilst improving transparency and communication between the renter and landlord.
SPCE arrives on the market with 50,000 rooms available for rent and 15,000 students pre-registering to download the proptech app.
The launch comes as it was revealed that more than 70% of UK landlords would not let their property to a student because they do not trust them to not cause damage.
Leon Ifayemi (pictured), chief executive of SPCE, said: “Many landlords will also have a tale or two to tell about renting properties to students and the launch of SPCE will change all this – I am delighted to unveil it today.
“Not only are we going to make it easy for students to find desirable properties and for landlords to locate new tenants, but we are also going to make communication between both parties throughout the tenancy absolutely effortless.”
SPCE partnered with Experian which means that with every rent payment made on time, it enhances a students’ credit score helping with loans and mortgages in the future.
Ifayemi added: “For us, one of the great features of SPCE is that it enables students to build a credit rating, as well as the fact that parent guarantors are kept in the loop. That’s why we’re so confident that SPCE is going to drag student lettings into the modern day.”