Until relatively recently, ‘Generation Rent’ had been dealt somewhat of a raw deal.
Having been confined to the traditional private rental sector for so long — without the high-quality amenities, flexibility and perks today’s Build-to-Rent (BTR) market offers — it’s quite easy to understand why so many feel jaded.
Ultimately, the BTR sector — and proptech firms like flatfair — were born out of a dissatisfaction with a rental system that had become no longer fit for purpose.
Renters today are increasingly spoilt for choice, not only in terms of myriad high-quality rental schemes on offer, but also the range of services, amenities and, importantly, the technology they utilise. flatfair’s No Deposit Solution, for example, has already saved tens of thousands of renters across Britain more than £10 million in up-front damage deposit costs, including those choosing to live in a growing number of BTR schemes coming onto the market.
Not only does doing away with deposits put money back into the pocket of renters, it reduces void periods for operators – a true win-win for all parties.
But proptech’s utility for the BTR sector needn’t stop once onboarding is completed, and our latest partnership is a good example of how collaboration between firms can be key when it comes to both attracting renters and retaining them.
flatfair is working with Spike Global to further streamline the rental experience of tenants living with Apo – Ecoworld’s build-to-rent platform. The partnership will see flatfair assist with resident onboarding — in addition to offering prospective renters our No Deposit Solution — by adding referencing services to Spike’s already impressive list of products.
Spike’s software manages a tenant’s journey through from initial enquiry and reservation to actually moving in. The proptech firm’s residents’ portal then oversees an array of functions that enhance the ongoing experience for renters, including concierge services and social clubs and forums. Additionally, the portal connects residents to their community, providing key announcements and information on amenities and recreational activities.
flatfair’s partnership with Spike demonstrates how proptech is fast-becoming an integral throughout the whole lifecycle of a tenancy. flatfair breaks down barriers for onboarding and greatly reduces up-front costs for tenants, while Spike’s residents’ portal allows tenants to make the most of their time at Apo. Moreover, when the tenancy comes to an end, residents who have signed up with flatfair enjoy a seamless checking out process, only paying for the cost of damages or unpaid rent that they owe.
Working together, flatfair, Spike Global and the wider BTR sector is creating a new, more affordable, more rewarding era of renting. But as competition intensifies, renters’ expectations will only increase alongside the standard of schemes on offer.
Operators, then, must not only use proptech firms like flatfair as a solution to onboarding and shortening voids but, rather, as an ever-evolving tool that helps them to keep up with the rapidly changing landscape of renting in the UK today.
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