Portal that by-passes letting agents wants more crowd...

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24 July 2017

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Portal that by-passes letting agents wants more crowdfunding money

Ezylet, an online portal that appears to allow landlords to bypass agents, is seeking more funds via a crowdfunding site.

The platform allows landlords to advertise properties, find and reference tenants and obtain a rent guarantee for the duration of the tenancy.

The portal says it can also provide a rent collection or a management service.

“We are providing many solutions to empower landlords to control the management of their properties and reduce their ongoing costs. Typically, an agent will charge one month’s rent to find a tenant, plus 10 to 15 per cent for ongoing management. We believe we can reduce these costs by as much as 70 per cent” claims a spokesman.

Self-funded until 2016, Ezylet is currently seeking £1.5m with the aim, in the words of a statement from the company, “of an IPO in the coming weeks, subject to market approval.”

Part of this fundraising includes a partnership with Nordic crowdfunding service Invesdor.

“This suits our business model as we plan to progress to an IPO ... Our plan is to grow the business successfully over the next five years and increase the range of services to the landlord, tenant and estate agency audiences,” says the spokesman.