StudentTenant.com has become the biggest student lettings portal in the UK after raising £310,000 in its first funding round.
With the capital, the firm aims to rapidly grow the business in the student rental market and rival high street letting agents nationally.
The UK-based prop-tech start up is a free to use service for landlords to advertise their student properties on StudentTenant and other major property advertising portals.
The student lettings portal has created robust property management packages for landlords at a fraction of the cost of high street agents, disrupting a market that is drastically changing.
Student Lettings Portal Becomes Biggest in the UKStudentTenant is driving the transformation of the student rental market with the belief that finding a property should be easy, fast and transparent. The student lettings portal is combatting the “extremely fractured” rental model, encouraging students to use its centralised hub to find housemates, book accommodation and receive ongoing support, rather than facing countless high street agents and online portals.
Now advertising over 2,000 properties, StudentTenant is the largest student lettings portal in the UK. The innovative business has forged strong relationships with highly influential brands, such as eMoov, Uber and Norwegian Air, to offer customers unique deals and promotions.
Investment into the business has been used to drive technology and keep the student lettings portal at the forefront of the sector. StudentTenant believes that one of the key drivers behind its success is its technology and in-house development team. Boasting integrated AI to answer 50% of student property-related questions, in addition to automated bookings, lettings and management, the platform is technologically unique.
The Managing Director of the firm, Danielle Cullen, says: “Our goal is to use technology to make the rental process easier, more accessible and more transparent for all parties. The new funds raised from an established and influential group of private investors will allow us to advertise and rapidly grow our database of landlords, significantly expanding our brand awareness within the coming months.
“Having also recently taken on board Shelly Suter-Hadad (COO of a global online entertainment company) as a non-executive director, I’m extremely confident in our future. With her wealth of experience in digital marketing and business development, as well as running an international online company, this will inevitably drive us even further forward.”
On the back of the student lettings portal’s huge success, the business is also launching ClickTenant.com. ClickTenant will be available to anyone looking for a rental property in the UK, and will use the same innovative technology.
Cullen explains: “The industry is undergoing big changes, particularly with recent Government announcements, such as the ban on letting agent fees. We aim to capitalise on a drastically shifting market, at a time where many landlords and property providers are looking to change to a more efficient agent.
“From a landlord’s point of view, we believe our service is a real no-brainer compared to the expensive alternative provided by high street agents. In addition, the in-house technology we have developed allows the whole process of booking viewings and properties to be so much more streamlined and cost effective – something that can never be offered by any high street estate agents with enormous fixed costs and old-fashioned practices.”
If you’re a student landlord, remember that our essential Rent Guarantee Insurance provides cover for all tenant types: http://justlandlords.co.uk/rentguaranteeinsurance