PropTech start up Halo claims that what it calls a new “tenant engagement platform” will streamlines the rental onboarding process.
The firm has raised £1.25m from angel investors and the European Commission and the platform is now open for testing.
A statement from Halo calls the current UK rental process “very fragmented” with tenants doing very little through digital means with the exception of finding their prospective property via a portal.
“Keeping track of the disparate apps designed to coordinate and ease home rentals is a struggle. Neither tenants nor agents have a clear overview of each stage of individual service provider, and typically experience a time-consuming process of email and phone communications” says Halo.
It claims that by using Artificial Intelligence, it enables agents and property managers to put all services on one platform - this includes property management systems, smart deposit services, utility switching companies, credit checks and referencing.
“Agents benefit from an average 90 per cent reduction in administrative tasks. They also gain exposure to additional revenue streams through a curated marketplace of service providers who offer commission payouts. Tenants can rent homes within just a few clicks and have all their home services handled in one platform” says the company.
Over the last six months, the technology has been tested with a number of small letting agents.
“Today, tenant rental journeys are broken and frustrating due to fragmented and outdated software environments” states Benas Baltramiejunas, co-founder of Halo.
“Our mission is to make renting a home seamless and fun! We’ve modernized the process, and we’re seeking to create a one-stop-shop for the 135m renters in Europe.”