A service that describes its mission as to rid the world of letting agents is to launch an online forum for renters to find accommodation after raising £900,000 from UK investors.
Movebubble plans to be what it calls the largest peer-to-peer global rental platform and will launch in London and at least two other cities in the next 18 months.
Aidan Rushby, a former head of marketing for a Bristol estate agency, and former Royal Marine Logan Hall, have developed an online system to connect landlords with renters. They are now working with a legal partner to disrupt the rental market.
Other property platforms still support the estate and letting agency model - that is, someone taking a substantial cut in the middle. We are NOT an online agency. We provide a completely new, transparent community marketplace for any product or service involved in the rental process insists Rushby.
The service aims to use technology to replace what was traditionally done by agents. From listing a property, booking viewings, making and accepting an offer, creating and signing a rental agreement to paying rent and deposits.
Once the user finds and negotiates an agreement for a chosen property, a one off £50 fee is paid to reserve it and remove it from the marketplace.
Rushby says: Movebubble offers a range of free tools for property owners that will let them rent and manage a property from anywhere in the world. We give access to information and services currently monopolised by letting agents and reference services.
Movebubble's website is more complicated than some more orthodox online letting agencies and there is a three minute video explaining to owners how to upload properties to the site; there is another 95 second video setting out how to upload an EPC.
The site also says it contains an awesome community of renters and owners.