Landbay, the property peer-to-peer lending platform, has launched a rent comparison tool that allows tenants and landlords to check how much they are paying and charging against other properties in their region.
The online application, called Rent Check, was created in collaboration with Zoopla Property Group and allows users to compare their rates against others in the same area.
The postcode search widget harnesses sophisticated UK wide data from Landbay’s monthly Rental Index. 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, chief executive and co-founder of Landbay, said: “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.”
The tool maps annual and monthly trends in advertised rents by geographical location and bedroom number, and a postcode search function allows users to access data showing how rental movements for a specific property type have changed over time.