An ‘open banking’ PropTech platform has partnered with two rental organisations which will offer agents, landlords and tenants direct payments and data aggregation.
StuRents and Mashroom have linked with Token to use its open banking technology.
StuRents operates a national student property platform that combines a student-centric property search with online contract signing, payment facilitation, property management and research capabilities.
“The last 18 months have presented the UK rental sector with a series of seismic legislative changes that have fundamentally challenged the business models of property managers up and down the country” says Tom Walker, co-founder of StuRents.
“2018’s card fee ban, coupled with the ban on tenant fees, have emphasised the need for cost-efficient and frictionless payment mechanisms. Being at the forefront of the rapidly evolving payments landscape was, and continues to be, a key focus.”
Meanwhile Mashroom, a lettings platform that aims to allow agents to let, secure, and maintain properties, is expanding its service to securely access renters’ data to validate rental affordability before entering into a contract.
Alexander Badalyan, Mashroom Chief Value Officer, comments: “Collecting rent has always been a tedious manual process with high processing costs. Mashroom is committed to equipping landlords and tenants with state-of-the-art technology”