A rental property management platform called Rent has partnered with a rent advance service, Factored.
A statement from the firms says: “This collaboration will provide Rentr’s extensive network of private landlords, agents, and portfolio managers with immediate access to up to £20,000 in upfront rental income to fund essential property maintenance, energy efficiency upgrades, and other financial requirements.”
The firms claims the deal addresses hat they describe as “a critical challenge for UK landlords” – that is, managing cash flow to cover significant expenses such as refurbishments, meeting new Energy Performance Certificate (EPC) requirements, or expanding portfolios.
Landlords using the Rentr platform can now apply for a rent advance from Factored and, the firms say, receive funds the same day.
“Partnering with Factored is a game changer for Rentr landlords as it opens up immediate cashflow with no impact on credit scores, no lengthy application and the team are really great too” says Rentr chief executive Vik Tara.
“We approached Rentr to explore a partnership as we’ve loved watching their technology evolve and see how fast their landlord base is growing” according to a Factored spokesperson
This article is taken from Landlord Today