No Agent, a UK based online rental marketplace, has launched an equity crowdfunding campaign on Seedrs. The platform is currently £400,000 in funding through the initiative. Founded in 2016, No Agent states it is on a mission to clean up the rental sector by delivering great customer service.
“We know this is important because landlords across the country have shared their stories with us about the stress of bad tenants damaging their properties, lost rent, strict governance, unforeseen expenses and rip off fees. In every story we hear how their agent failed to resolve matters or potentially aggravated them. For decades traditional agencies have got away with over-charging for a sub-standard service. They’re slow to respond, don’t take ownership of issues and all too often are caught misleading customers. The lack of any viable alternatives has caused this problem to persist.”
The platform also reported that it taps into half of the current 4.2 million private rental properties that are up for rent.
“No Agent challenges the traditional over-priced & under-serviced lettings model. Doing what our name suggests, we have created a digital platform that removes traditional agents, bringing down the cost of managing a property by an estimated 75% & delivering great customer service.”
All funds from the equity crowdfunding campaign will go towards growth and expansion of the No Agent platform. Since its launch, the funding round has successfully secured more than £120,000 from nearly 90 investors. It is set to close later this winter.
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