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TODAY'S OTHER NEWS

Fast-expanding agency says landlords go free but tenants pay

An agency which says it aims to be “the UK’s premier residential lettings company” says it’s offering itself free to landlords but uses a business model that gets tenants to pay for additional services.

LIFENEST, founded in 2016 but relatively unknown until now, claims to have already “disrupted London’s real estate market for young professionals and students”. It’s based in the high-rent Gherkin building in the City.

It says that instead of charging landlords fees and commissions it generates revenue by selling to tenants “upgrades in electronics and furniture” as well as grocery delivery, interior design consulting and 24/7 maintenance support. 

LIFENEST says it’s going to open in New York in 2020 and Los Angeles and San Francisco in 2021; in the meantime it is also rolling out the UK service to Manchester, Belfast and Leeds.

  • Simon Shinerock

    Don’t tell me, the CEO and founder is 16 and has raised £100M for his disruptive idea

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    Just seems like another version of the tenancy fees that got banned?..

  • Kristjan Byfield

    Initial thoughts: no setting out of tenancy costs, no details of CMP or ombudsman membership, no EPC data on listings, no landlord guidance re compliance, no mention of landlord/property licensing,.......in fact very little info at all. In breach of tons of stuff- get that right first and then show how you're disrupting things.

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