Business founder wants to cut real estate agents out of the rental market
A property platform called RentBetter has raised $5 million to help landlords manage rental properties without using traditional real estate agents. The company argues that direct landlord-tenant relationships are more efficient and cost-effective, though critics note this may not necessarily lower rent prices for tenants.
Why it matters
This reflects a growing trend of 'disintermediation' in the property market, where technology platforms challenge traditional service-based business models.
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Share A A A About a third of Australia’s 2.2 million residential rentals are now being leased out without a real estate agent, according to property platform RentBetter, in a trend that it says is accelerating as the market tightens in the wake of the federal budget.
The platform has raised $5 million from venture capital firm EVP as landlords attempt to cut back on costs, including the 5 per cent to 9 per cent of rent that real estate site LocalAgentFinder says is typically charged by agents to manage a property.
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