Reinventing Renting – The tenant fee ban and innovation

A lot of agent marketing drives leads that can at best be described as “unqualified” – and at worst as “time-wasters”. Particularly in the lettings’ sphere, it’s often therefore tempting for agents to view tenant leads as pretty much interchangeable – with the amount of hassle involved in qualifying them, listening to their requirements, taking them on viewings and administering the tenancy as equivalently awful, regardless of individual.

Homie, a PropTech startup that has just raised £3m, is determined to prove that a great tenant is different. Their model is to qualify the tenant and reject those that are going to be a pain.

Disclosure: I’m working with Homie because I think that this area of the property market has taken too long to change. Its crazy inefficiency has been subsidised by tenant fees, meaning that pointless work in discussing requirements with unsuitable tenants, or taking them on viewings only to find they don’t pass referencing, is commonplace. That can’t be good for anyone.

With the tenant fee ban coming in next year, the amount of administration agents will have to do for each tenancy is going to be critically important to profitability. Knowing that there is a source of highly-qualified, move-ready tenants on tap is a much stronger proposition than the hit-and-miss process that is currently enabled because each tenant brings with them a fee. Once that fee disappears, it’s going to be even more important to know which tenants are progressible and which are going to suck time and effort from your team for no reward.

There will be others that seek to fix these inefficiencies in due course, so agents should see what solutions there are out there locally to maximise their marketing budget’s return and minimise costs. Discover those, like Homie, who are taking the fee ban seriously and looking to provide what every letting agent is going to need – a fast, reliable and efficient way to find the perfect tenant without the time-waters.

That’s marketing innovation which works.

Written by Mal McCallion – mal@growtion.co

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Estate Agent Talk

60% of homeowners admit to stress & sleepless nights

Managing your mortgage and mental health as 60% of homeowners admit to stress and sleepless nights The latest insight from award-winning mortgage adviser, Alexander Hall, has shown that for the majority of homeowners, their mortgage is their single largest financial worry, with 60% stating that their mortgage worries have impacted their mental health at one…
Read More
Commercial Agent Talk

Improve Tenant Satisfaction with Expert Commercial Property Management

In the world of commercial real estate, tenant satisfaction can make or break a property’s success. Happy tenants are more likely to renew leases, recommend the property to others, and take better care of the premises. However, achieving and maintaining tenant satisfaction requires more than just a well-maintained building—it takes expertise, communication, and a strategic…
Read More
Breaking News

Attic bedrooms can boost the price of a home by a quarter

Latest research from Nationwide reveals how home improvements can boost property prices in 2025 Analysis based on Nationwide’s HPI data shows extensions or loft conversions with a bedroom can increase value by up to 24% But kitchen and bathroom renovations most popular improvements amongst homeowners in last five years 34% made green improvements, such as…
Read More
Breaking News

Prime London sellers exit the market

Prime London sellers exit the market, as high-end for sale stock falls in Q3 The latest look at prime London property supply from Jefferies London has shown that the volume of homes priced at £2m or more listed for sale across the capital fell by 4.3% during the third quarter of 2025, accounting for just…
Read More
Planning disputes on new build land
Breaking News

Government’s last-minute Planning Bill amendments will tackle blockers and boost growth

The Government has announced several major amendments to the Planning and Infrastructure Bill, which further streamline the planning process. They include reducing the length of consultation, stripping uncooperative councils of the right to make certain decisions, and paring back the impact and ability to raise legal disputes. Richard Beresford, Chief Executive of the National Federation…
Read More
Breaking News

Next budget a “pivotal moment for the property market”

The UK government is due to unveil its next budgetary statement in November, with many rumours circulating on how it’ll affect the property market. While many rumours are circulating among thought leaders and economists, Mitchell Martyn, property expert from Pure Property Finance, a property finance specialist based in the UK, says that this next budget…
Read More