Ringley Group launches automated lettings platform PlanetRent Information Age
14/09/2020
Author : Mary-Anne Bowring/Information Age
Introduction to PlanetRent
Ringley Group has launched PlanetRent, an automated lettings platform aimed at simplifying the rental process for landlords, agents, and tenants. By reducing administrative work and improving governance, the platform aims to streamline the rental experience while preventing costly fines.
Benefits of Automation for Landlords and Agents
PlanetRent helps landlords and letting agents avoid fines of up to £20,000 for errors in governance, such as incomplete documentation or outdated safety certificates. It ensures that legal documents are up to date and that all compliance requirements are met, all while automating back-office tasks.
Real-Time Reporting and Portfolio Management
The platform provides real-time reporting, allowing landlords and institutional investors to stay updated on the performance of their portfolios. This centralized system ensures that all parties, including agents and contractors, have access to essential resources such as property floorplans, photography, and legal documentation.
Remote Accessibility and Integration with Accounting Software
PlanetRent is designed for flexibility, allowing landlords and agents to manage their properties remotely, which could be especially useful in case of future lockdowns. The platform integrates with popular accounting software like Sage and Xero, further streamlining financial management for agents and landlords.
Enhancing Landlord-Tenant Relations
Mary-Anne Bowring, the group managing director of Ringley, emphasized that institutional investment is reshaping the rental market, with tenants increasingly expecting better customer service. PlanetRent enables agents to provide an enriched tenant experience while focusing on essential aspects of the lettings process, improving the overall rental journey.
Impact on the Rental Market
PlanetRent helps even smaller agents operate like larger agencies, such as Foxtons, by centralizing administration tasks. This allows agents to focus on revenue-generating activities and deliver better services to tenants. The platform comes at a time when the UK rental market is seeing a rise in tenant demand and more buy-to-let listings, according to the latest RICS survey.
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.