RentTech - a portmanteau of "rental" and "technology" - describes the rapidly growing technology landscape for estate agents, landlords, and tenants.
But what do agents think about the rising amount of tech solutions in the lettings industry? Are property professionals worried about the rise of AI? And how many agents know what Open Banking is? Find out by reading our report.
RentTech is any technology that specifically landlords, agents and tenants can use as part of the modern-day lettings process. Almost a third of homes in the UK are privately rented. This means millions of people need to find software and solutions that are relevant for them.
The supergraphic shows RentTech is big enough to be defined as its own, rapidly evolving and changing sector. The RentTech ecosystem has grown so much it is no longer part of PropTech - property technology - but its own entity.
Agents, landlords and tenants should become increasingly aware of the RentTech, so they can find what platforms are on the market and the best rental technology solution for their needs.
There is a huge variety of technologies that landlords, agents and tenants can use to ensure their lettings journey runs as seamlessly as possible. Many RentTech companies, such as Goodlord, sit under many of these categories - providing an all-in-one service.
The categories we have defined for the RentTech sector are:
Companies that help tenants to simplify or automate their household bills.
Estate agents can get more insight about their lettings using these platforms.
Providers that allow tenants, landlords and estate agents to sign documents online.
Companies that help tenants with their property payments and transactions.
Landlords and tenants use these companies to insure their property and the contents within it.
Companies that help to catalogue a property's condition and contents, often before move-in day.
Agents can use these software providers to ensure their property is well maintained.
Companies that help estate agents to market their lettings to a wider audience.
Software that enables tenants to search for a property or to find a roommate.
Companies that let estate agents manage their portfolio of rentals online.
The RentTech companies that focus on ensuring a tenant’s references are in order.
Software platforms that provide a tenant with an overview of a property remotely.
Software that helps to automate rental systems - making agents’ lives easier.
