‘Proptech’ start-up says it will shake up status quo in lettings market

| Rosalind Renshaw

Rental platform Movebubble says that in less than six months it has become a serious player in the lettings market.

The business, which describes itself as “the LinkedIn of the private rental sector”, says that since launch there have been 1m-plus property searches on its platform, with over 30,000 tenants, private landlords and letting agents as “community members”.

Movebubble CEO Aidan Rushby said: “It is exciting to be leveraging technology and leading the ‘proptech’ charge against bigger, more established players in the property rental space, and seeing traction.

“They should sit up and take notice of what is going on. We are about to shake up the status quo in UK rentals.”

Movebubble’s pitch, as told to Eye, is that it helps tenants, private landlords and agents build and showcase their rental reputations and connect directly with one another.

The platform allows tenants to apply online for viewings, while users can look at one another’s profiles, feedback and reviews.

It has just launched a new feature enabling landlords and agents to search for and connect with tenants looking in their area.

Rushby said that in a recent Censuswide survey, 92% of tenants agreed they would like to see references of landlords.

He said: “Movebubble enables users to rate one another, helping good users avoid bad users.

“It is much like what Airbnb has done for short-term rentals and Uber for ordering taxis.”

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16 Comments

  1. PeeBee
    February 20, 2015 at 09:02

    Is “shake up” the new ‘disrupt’?

    Or was it the old one before “disrupt” became the new ‘shake up’?

    I’m confused…

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    1. loganjehall
      February 20, 2015 at 16:37

       
      Haha. You are right as there are lots of words describing the same thing really. Disrupt is a word that can get overused, and mis understood. Ultimately it is about making changes that benefit you as landlords and agents, and renters when trying to find a new home. Disrupt, shake up or simply change things I suppose it’s all the same. 

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  2. MF
    February 20, 2015 at 09:07

    Barely a month seems to go by goes by without a new ‘disrupter’ promising to ‘shake us up’.

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    1. PeeBee
      February 20, 2015 at 10:17

      Oh no – not BOTH in one sentence, MF.

      I’m going to become a window cleaner.  No-one disrupts that profession.

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      1. MF
        February 20, 2015 at 11:00

        Ooops!

        I used to be a window cleaner.  A long time ago …

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    2. loganjehall
      February 20, 2015 at 16:34

      Hello, thanks for joining the conversation. You are right in that there are so many companies entering the property space now. Most of these new businesses are aiming to utilise technology in ways that have not, as of yet, permeated the property space. There is a large amount of investment coming from more established businesses into this space, as i believe they see some inevitable big changes as companies strive to make things easier for their customers. Change is good for the market, as things should in theory get easier, more convenient and ultimately cheaper for us all. 🙂

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      1. smile please
        February 20, 2015 at 18:30

        Hi loganjehall,

        For what its worth you are preaching to the wrong client. This tends to be used by professional and not the general public.

        Just a thought is cheap always better? I could have bought a Vauxhall when i changed my car but decided to go for the Audi. Both have four wheels, both get me to where i want, both do a job but i decided to go for premium not cheap …… Just something to ponder on as we are forever forced “Cheaper is better” even if in a lot of cases we do not agree…..

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        1. smile please
          February 20, 2015 at 18:32

          In fact you could really equate it to choice in the property industry now. The market could choose cheap “On the market” but have on mass decided to stay with Rightmove ……

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    3. loganjehall
      February 20, 2015 at 16:35

      Hello, thanks for joining the conversation. You are right in that there are so many companies entering the property space now. Most of these new businesses are aiming to utilise technology in ways that have not, as of yet, permeated the property space. There is a large amount of investment coming from more established businesses into this space, as i believe they see some inevitable big changes as companies strive to make things easier for their customers. Change is good for the market, as things should in theory get easier, more convenient and ultimately cheaper for us all. 🙂

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  3. interestedobserver
    February 20, 2015 at 09:24

    If I see the word ‘disrupt’ anywhere I see ‘property market’ next, regardless of what is actually written.

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  4. Robert May
    February 20, 2015 at 09:43

    How many  of the 92% would not not rent from an un-referenced landlord if that was their only chance of  securing a home?

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    1. loganjehall
      February 20, 2015 at 16:45

      Unfortunately we don’t know the answer to this is. But i think that it is really interesting to hear renters (as the end customer) suggesting that they would like to have a more open approach to choosing the landlord or agent based on their reputations. I think that rental reputations will become very important in the future, as we have seen in many other industries around the world. I suppose only time will tell, but the activity of renters on Movebubble is already indicating landlords and agents with better reviews are getting more enquiries from better renters.

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      1. Robert May
        February 20, 2015 at 17:56

        Who gets up at 4 pm and suddenly  wants to discuss posts from 8 hours ago?

        Please explain what experience you have of the lettings and property Management industry.

        with 30 applicants on average in the PRS  queing for every property and  tenants  property blocking properties they can’t move on from  yours sounds like a malcontents uptopian dream; that of having a choice.

         

         

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  5. Penguin
    February 20, 2015 at 10:02

    Never heard of ’em.

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  6. Trevor Mealham
    February 20, 2015 at 10:47

    There was a Prop tech event last night in St Katharines Way, London. There were some good innovative ideas. BUT also some pushing idea’s that have elements of placing clients or consumers in compromised positions that don’t tie in with UK law that traditional agents abide and trade under.

    INEA does a hell of a lot of large data pushing about between agents, and we have a very traditional agent support stance.

    But being on the traditional agents side it felt like walking into a football crowd wearing the oppositions colours.

    There is a mega divide between what some large money players are backing in the tech world some of which is unlawful models vs traditional.

    One pop up shop Canadian? guy had generally a good idea, but when questioned about commercial planning restraints ie A1-A2-A3-B1-B2 etc etc going into different units when maybe they shouldnt. He said he hated those who held the UK law in front of tradition.

    £30-35m has gone into property related tech in the last 6-8 months. Some backers are thinking some tech is genius. Whereas in reality some models havent been done as they would be against stutue that governs the way agents trade.

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    1. loganjehall
      February 20, 2015 at 16:52

      Hello Trevor, It was a really interesting event, and Nick from WearePopUp did put on a show. He is a great speaker, and his idea is very compelling indeed. Business normally rubs up against the law in many ways, and over time is responsible for changing it as popular sentiment forms behind better ways of doing the same tasks. I suppose this is what is happening in the short term rental market, based on the pressure Airbnb has placed on the traditional way of renting rooms and apartments for a few days. We have to be very careful that don’t strangle innovation with regulation, as this would be detrimental to us all. 🙂

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