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TODAY'S OTHER NEWS

Rightmove marches on as it snaps up tenant reference company

In what some see as a sign of the growing importance of the lettings sector over sales, Rightmove has acquired tenant referencing company Van Mildert.

The portal says the aim of the acquisition - at a cost of £16m - is to offer products and services to letting agents to help them save time on admin tasks and increase service levels for landlords and tenants, especially in an era when fees are under pressure.

Head of Lettings Innovation at Rightmove, Rob Symes, explains: “This acquisition will augment our Rightmove Passport, which can help support agents when they’re pre-qualifying applicants and handling leads, and could also help tenants save time when applying for properties. 

“Agents will be able to use the Rightmove Passport to help identify the most suitable tenants, and if they choose to use Van Mildert for referencing our aim is to help them save more time by integrating the Passport into the referencing flow.”

Van Mildert founder Christian Balshen adds: “The Rightmove Passport is something which can truly change the market for the better, improving the lettings experience for letting agents, tenants and landlords and it is fantastic for Van Mildert to have the opportunity to contribute to this whilst also ensuring that our specialist products give letting agents the tools they need to thrive in their market.”

The transaction is subject to routine Financial Conduct Authority change of control regulatory approval and is anticipated to complete by the end of October.

Over the past few months Rightmove says it’s enhanced its Rightmove Passport. 

It includes an Equifax credit check, an anti-money laundering check, identity validation and a check on the fraud protection database.

Poll: Is Rightmove too large and too dominant?

PLACE YOUR VOTE BELOW

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    I trust my gut feeling about potential tenants more than what a computer can tell me and, nearly always find that those that put themselves forward as "perfect" tenants or say that they "come with great references" are absolutely awful! Why would I put someone to the top of the list just because Rightmove tells me too?

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    Agree. Been doing this for nearly 4 decades and gut feeling works and saves you a lot of money wasted on agents rip off fees.

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    Totally agree. You have a bit of time on me, I only have 22 years in Agency but while parts of our industry are desperate to modernise, I still find that many of the old school (pre-internet) ways work just as well as they always did.

     
    Algarve  Investor

    Just going with your gut hasn't worked out too well recently, has it? A lot of people said they voted Leave on gut feeling alone and look where that's got us. A blonde buffoon ready to drive us off a cliff-edge just so Brexit can be achieved, and billions being wasted on no deal planning that could surely be put to better use elsewhere.

    Anyway, that rant aside, I agree with you that in the case of tenants and buyers it can work well, but surely it helps to know that your tenants have a good reputation and have been thoroughly referenced for their ability to pay their rent and what have you?

     
  • Simon Shinerock

    Rightmove The Brand you can Trust.......to suck you in and skin you alive, once bitten and all that

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