A property start-up hoping to the next big thing in the student housing market is looking for a £5 million cash injection to help it launch across four more cities.
The business started its second year of operations by adding 45,000 properties to its platform across Manchester and Birmingham, with hundreds of lettings already agreed for the September 2024 academic term, reports Harry Panter, co-founder & CEO, who says it’s ready to disrupt the property market in the rest of the UK.
Housr operates like a dating app, letting users swipe through properties and secure viewings, while landlords and letting agents can use it as a management portal. It also uses AI to eliminate the administrative hurdles that typically accompany the process of securing a rental property.
It currently works with 30 UK-based letting agents and is averaging 73 rentals per week through its platform. Landlords are paid £120 per home advertised with Housr and use its all-in-one billing platform. They can then manage bookings online and use a tenant chat feature.
“Our introduction of rapid peer-to-peer rentals will change how students find housing, making it cheaper and more efficient for all involved,” adds Panter.
The start-up has developed a loyal community of students who are rewarded with perks including money off their rent, a year’s supply of free pizza, and offers on drinks through its commercial brand partners. The smartphone app is on track to have 30,000 users by January.
Housr recently acquired an online student community in Leeds ahead of its rollout in the city in September and will work with the group to host events.
The platform reports that it is forecast to break even in July 2024 and has already raised 30% of its £5 million target.