Spotahome, the Spanish-based residential platform which manages 200,000 properties in 29 different countries across Europe, has signed an agreement with UK-based tenant due diligence and guarantee firm Homeppl to provide its landlords with a tenant referencing and guarantor service for its medium and long-term lets.
With the world opening-up and embracing a post-pandemic life, demand for both medium and long-term rentals has tripled, so being able to approve tenants quickly is imperative. But the risk of tenant fraud remains high, so it is vital that landlords have secure tenant referencing systems in place.
Homeppl’s solution combines fraud detection tests, behavioural analysis and financial algorithms, as well as Open Banking data, to assess the true transactional ability of consumers from all over Europe. It has a 0% default rate, and Homeppl is so confident in its referencing solution that it also offers guarantid – a service where it acts as a guarantor for tenants it approves – giving landlords more protection and tenants more freedom.
Spotahome has embedded the Homeppl tenant and guarantor services in a new premium package for its landlords; 2,000 have already signed up in Spotahome Premium service, with numbers expected to reach 10,000 by the end of the year.
Through this partnership with Homeppl, Spotahome – already a pioneer in digital rental due to its innovative virtual tours – is further transforming the rental process in Europe making it easier for tenants to rent and safer for landlords. Thanks to Homeppl’s service, Spotahome is reducing entry barriers to rent for tenants by no longer having to charge an initial payment of between one and three months’ rent, while also providing financial and legal security to landlords by mitigating fraud, guaranteeing rent and covering the cost of any damage to property.
CEO and Co-founder of Spotahome, Alejandro Artacho said: “This new service offered to “Premium Spotahome Landlords” in partnership with Homeppl, makes Spotahome the only platform offering rentals with no deposit and Landlords guaranteed across multiple countries in Europe and it is just a step towards making rentals more accessible, and at the same time more secure for both tenants and landlords. In the following months, Spotahome will continue to launch new functionalities becoming the European digital rental platform of reference.
CEO of Homeppl Alexander Siedes said: “With a post-covid recovery underway, we’re delighted that Spotahome – one of the biggest online rental firms in the world – has chosen us as their tenant referencing and tenant guarantor provider. This partnership will help support rental mobility across Europe, enabling tenants to explore new cities and rent with greater freedom while protecting landlords from any financial or legal risk.”
The partnership marks an exciting step forward for Homeppl, following multiple senior hires and a series of large client wins in the last six months.