New lettings platform aims to simplify lease-up process for build-to-rent landlords
07/05/2020
Author : Mary-Anne Bowring
New Automated Lettings Platform: Revolutionizing Lease-Up Rates
The launch of PlanetRent, a cutting-edge automated lettings platform developed by residential property consultancy Ringley, promises to significantly improve the efficiency of the build-to-rent (BTR) sector. Aimed at institutional investors and large-scale corporate landlords, the platform addresses the industry's need for faster lease-up rates and improved portfolio performance. By reducing the need for multiple software packages, PlanetRent enables front-of-house staff to generate fully compliant tenancy contracts in mere minutes, streamlining the leasing process and enhancing occupancy levels.
BPT Research: Transforming Build-to-Rent Operations
PlanetRent's capabilities extend beyond simplifying contract creation—it also offers insights that allow landlords to optimize the entire lettings process. The platform standardizes customer experiences across lease-ups, renewals, repairs, and move-outs. The integration of data tracking allows building owners to monitor each step of this process, offering a deeper understanding of asset performance. With features that help reduce costs, PlanetRent provides a valuable tool for BTR landlords, enabling them to operate more efficiently and profitably.
Industry Growth: The Expansion of Build-to-Rent in the UK
Research from the British Property Federation highlights the rapid growth of the BTR sector, with more than 150,000 homes across the UK either completed or under development, a 15% increase since 2019. As BTR continues to expand, platforms like PlanetRent are set to play a pivotal role in driving this growth. Ringley, which has invested over GBP 2 million in technological innovations, has designed PlanetRent specifically to meet the unique demands of the BTR industry. This investment aims to automate and simplify the lettings and operations processes, supporting the ongoing boom in the sector.
Streamlining Operations and Reducing Costs
A key benefit of PlanetRent is its ability to consolidate multiple software solutions into a single platform, saving investors both time and money. The system integrates with existing accounting software or can even serve as an outsourced accountant, making the platform an all-encompassing solution for property managers. The result is a more efficient management of resources, enabling investors and operators to focus on maximizing the value of their portfolios.
Integration with Busy Living: Enhancing Resident Experience
Ringley’s vision extends beyond just lettings with the introduction of Busy Living, a platform that can be white-labeled by BTR operators to commercialize amenity space in residential buildings. Whether for student accommodation or hotels, Busy Living is a flexible, sector-agnostic solution designed to enhance the resident experience. When integrated with PlanetRent, the two platforms create a seamless leasing and operational experience that drives value for both residents and landlords alike.
The Future of BTR: Service, Technology, and Efficiency
Mary-Anne Bowring, Group Managing Director at Ringley, emphasizes the importance of technology in shaping the future of the BTR sector. “PlanetRent fundamentally automates complex functions, cutting costs, reducing risks, and empowering on-site staff to manage leasing more efficiently,” says Bowring. As the build-to-rent industry evolves, tech-savvy investors and operators who embrace platforms like PlanetRent will see improved lease-up rates, higher occupancy, and enhanced resident satisfaction, ultimately positioning them for success in an increasingly competitive market.
info@planetrent.co.uk
0208 0599 550 (for sales)
Under Offer: This term applies to a property where the landlord is considering an offer but remains on the market. It implies that further offers may still be considered until the landlord formally accepts or declines the current offer.
Let Agreed: This term indicates that a landlord has provisionally agreed to enter into a rental agreement with a prospective tenant, pending additional checks and referencing. It doesn't require the prospective tenant to have paid a holding deposit.
Let: This term signifies an established binding rental agreement between the landlord and tenant.
For both lettings and sales, the guidance addresses additional terms:
New On The Market: This term is used for a property not advertised since its last sale or rental. It should only be used for a brief period.
New Instruction: It applies to a property assigned to an agent for marketing recently, even if it was previously listed with another agent without being sold or rented.
New and Exclusive: This term refers to a property that is either new on the market or a new instruction, exclusively available through a specific agent or portal.
New Method of Sale/Let: This term is used when a property is being marketed for sale or rent using an alternative approach to the original advertisement, such as transitioning to an auction or sealed bid.
Reduced: This term indicates that a property's price has recently been reduced. The reduction should be genuine and comply with the Chartered Trading Standards Institute's guidelines on pricing practices.