A new web platform launched by an Oldham landlord aims to build trust within the property rental sector by allowing both landlords and tenants to achieve ‘5-star status’.
Using Tenancy Trust, landlords can invite tenants to review them and build a bank of testimonials. The free platform is also the first of its type where tenants can invite reviews from landlords to demonstrate their track record to help them secure the best properties in the future.
Tenancy Trust has been launched by Jon Maumy, a former Royal Navy helicopter pilot who is now a professional landlord.
Unlike other review sites which focus on tenant complaints, it allows ‘superstar’ landlords to use reviews in a positive way to attract the best tenants. Both landlords and tenants must sign up before any reviews can be posted and identities are verified.
The platform allows landlords and other service providers to promote their properties and services free of charge. And it provides a secure place for tenants to store documents such as payslips and proof of identify and provide instant access to landlords when applying for new properties.
Jon came up with the idea recently while researching the property market as part of a post-graduate business course at the University of Northampton.
He explains: “Property rentals are like a blind date where both parties have to make a rapid commitment. Landlords entrust their costly properties to tenants they have never met who in turn agree to hand over a significant part of their income.
“While there are horror stories on both sides, the majority of landlords and tenants are decent but they need a better way to show it. Tenancy Trust allows them to use reviews in a pro-active way to build trust.
“For landlords, it is way to establish a reputation for quality and service and differentiate themselves in the market. It also plays a useful role in the referencing process.
“Meanwhile tenants can use it to build a track record to help secure the best properties just as they might use their CV to get the right jobs. This is particularly important now competition is getting tougher and people are renting for longer before they buy.
“Tenancy Trust aims to create a culture of transparency and alleviate concerns on both sides.”
Kelly Blandford, a tenant who has a 5-star rating on Tenancy Trust, says: “I know I’m a good tenant so I was more than happy to sign up and allow myself to be reviewed. It also means I can see ratings of landlords and know what I’m getting into before committing to renting with them. This way we both know we are getting someone great!”