Lavanda develops app to solve subletting issues
UK start-up Lavanda is developing a new app to solve 'illegitimate' short-term rentals.
It plans to launch Europe’s first short-term rental platform for tenants in the private rental sector in an attempt to solve tenancy breaches resulting from subletting.
Lavanda Residential, a new service from the property management company based in London, is the result of a strategic partnership struck with industry experts JLL and global asset manager Aberdeen Standard Investments.
Both tenants and landlords using Lavanda’s service log into an app in which the building managers can allocate a number of a days in a year in which a tenant can sublet a property in a legal way.
Tenants can reduce their costs of living by monetising periods of “slack capacity” in their rented homes, while landlords can take a portion of the revenue generated from a tenant subletting a property. Trials are already taking place in London.
“Short-term rentals are shaping the future of residential property, but to date they have been happening under the radar, causing unnecessary risks for both residents and landlord,” said Guy Westlake, founder of Lavanda.
Lavanda will look to roll out its platform more broadly across the UK and Europe, Mr Westlake added.