BTL specialist peer to peer lender, Landbay, has announced that it has launched a new online tool that will alow tenants and landlords to compare their own rents against others in their region.
The new tool, 'Rent Check', was announced following the launch of its exclusive partnership with Zoopla Property Group last week. Rents have grown by close to 5% over the last two years alone, highlighting just how important it is for both parties to check their rents are tracking the wider market.
The postcode search widget harnesses sophisticated UK wide data from Landbay’s monthly Rental Index, powered by MIAC. The index maps annual and monthly trends in advertised rents, both geographically and by bedroom number. It also allows users to access data showing how rental movements for a specific property type have changed over time, all of which provides unique and sensitive insight into market movements and social mobility.
John Goodall, CEO and Co-Founder, Landbay, commented: “The UK is in the midst of a housing crisis and a severe supply/demand imbalance, meaning the rental property market is buoyant. Together, Landbay’s Rental Index and the Rent Check tool will give both tenants and landlords a simple way of accessing data from across the UK, not only providing an in depth view of the market, but helping inform their next move.
In times of low interest rates and a lack of home ownership and affordability, we’re pleased to be able to offer people a way of affirming the rent they are paying in their region.”