Please Note: This Article is 2 years old. This increases the likelihood that some or all of it's content is now outdated.

An app-based property management service backed by £7 million in investor funding and launched three years ago by a rising star of the tech world has begun offering itself for free to larger landlords.

Smaller landlords with a few properties are not included in the deal and will continue to pay a percentage-based property management fee. But larger landlords including build-to-rent firms can now use the service for free and Residently tells LandlordZONE that it will make money from referral fees it will earn from tenants who order broadband, removals and lifestyle services through its app.

Like many apps in this field Residently has digitised the rental process and offers landlords of all portfolio sizes a way to rent their homes out without face-to-face contact.

The app’s founder and CEO Tom Allason (pictured), who claims landlords can use it to rent out a property from virtual viewing to signed contracts within five minutes, now believes his tech’s time has come given the social distancing restrictions of Covid.

“In the last few months, we’ve watched the contactless rental process that we’ve built go from a ‘nice to have’ to an absolute necessity,” says Allason.

“Not to mention, it’s never been more important for renters to feel ‘at home’ and cared for. We hope that by making our platform free, we can partner with companies across the industry to support their residents during this time.”

Larger portfolio

Although the app is useful for landlords of all sizes, the company’s main focus is on larger portfolio and build-to-rent operators, letting agents and property managers.

Residently has partnered with property management and rental giant Touchstone which manages over 20,000 properties within the UK.

“Technology is crucial in creating the very best experience for customers, and we’ll help support this ground-breaking approach, ensuring a smooth, frictionless experience when renting a home,” says Helen Kings, Touchstone Managing Director.

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Please Note: This Article is 2 years old. This increases the likelihood that some or all of it's content is now outdated.

4 COMMENTS

  1. Basic maths…… They started with £20 million 3 years ago, have the begging bowl out for more – and Ive never heard of them.

    I may not be their target landlord, but after £20M and 3 years, their name/product should be known by all if us.

    I will be kind and suggest the non-working 404 error on the link to their website is down to an error by the reporter and it’s not a link provided by the company.

    ps Is there a PAID ADVERTORIAL section this can be moved to, away fron News?

  2. Hi thanks for flagging up the broken link – which has now been updated. To clarify – if we run paid advertorial pieces then we flag them up clearly as ‘Sponsored’ but pieces like this are written by our editorial team and not influenced in any way by the companies we write about. If Residently crashes and burns one day, or runs out of money, or fails to gain traction, etc then we’d also report that too. Nigel Lewis – Editor.

  3. …..and now the new “news advertorial” is missing comments and has the link – which goes straight back to the LZ home page

  4. Hi landlord-man – thanks for your comments. But just to clarify; none of the comments have been amended or removed on this story. We never remove or edit comments unless they are defamatory or disrespectful to other users and it is indeed a news piece – we report on the companies who supply the landlord sector whether they are letting agents, tech platforms, mortgage providers, etc and do so without bias or favour. If these companies wish to pay for advertorials then they are flagged up clearly as such. In this piece, the two links are correct – one goes to Residently, and the other goes to a news story on LZ about a rival to Residently, Kiko, not the home page as you claim.

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