Every punctual rental payment through RentalStep’s free Tenant Passport service could improve credit scoring
Landlords and business travellers who use short-term rentals will be pleased to hear that a new online service which could do for home renting what Airbnb did for the holiday business has launched in the UK.
Both landlords and tenants can leave reviews of each other and their properties via newly-launched RentalStep so that both parties can make informed decisions about future moves.
According to RentalStep Founder Mike Georgeson, what makes the new platform unique, however, is its ‘Tenant Passport’ which he claims ddresses one of the underlying problems of today’s rental market – landlord confidence and the cost of having to pay for references.
The free Tenant Passport service allows renters to log their verified payment history online and every punctual rental payment will improve their credit score.
Georgeson, who is a landlord himself, said: “Our revolutionary new platform that connects great tenants and great landlords has launched across the UK and is set to revolutionise the way we rent. Our partnership with Experian means we can offer free credit scoring and ID verification for both tenants and landlords.
“Our unique, secure Tenant Passport allows tenants to show a landlord just how good a tenant they are, whilst giving landlords access to a pool of verified tenants.”
The Tenant Passport, which RentalStep guarantees will remain free for tenants, means renters’ online reference will be only a click away. The Passport includes a record of rental payments – with each payment record sent to Experian – and present and past tenancies.
RentalStep has also introduced the new concept of a TenantScore™, which Georgeson says makes it simple for landlords to assess would-be tenants’ suitability for a property. Meanwhile, landlords will be able to store all of their documents for the tenancy online and share them with their tenants.
The company has already won a massive vote of confidence, taking the £150,000 first prize from a Startups.co.uk competition following a real-life Dragon’s Den-style interview.