Property management platform Rentr has announced a partnership with Factored, a provider of rent advance solutions, to offer UK landlords access to same-day rental income advances of up to £20,000.
The partnership is aimed at supporting landlords, agents and portfolio managers with funding for property maintenance, energy efficiency upgrades, and other financial needs.
According to the announcement, landlords using Rentr can apply for a rent advance from Factored and receive funds the same day. The advance is based on guaranteed future rental income.
Rentr offers various tools for tasks including advertising properties on sites such as Rightmove and Zoopla, tenant referencing via Equifax, digital creation of assured shorthold tenancy (AST) agreements, maintenance management using AI, and automated rent collection.
Vik Tara, CEO of Rentr, said: “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.”
Ben Schuldenfrei, co-founder of Factored, said: “We approached Rentr to explore a partnership as we’ve loved watching their technology evolve and see how fast their landlord base is growing.”
He added that the partnership aims to be of “huge benefit for private landlords, as it can be a challenging role”.
