Britain: Start-up Lavanda is to launch Europe’s first short-term rental platform for private rental sector tenants to solve tenancy breaches from subletting.
Lavanda Residential, a service set up by the London-based property management company, is the result of a strategic partnership agreed with industry experts JLL and global asset manager Aberdeen Standard Investments.
Both tenants and landlords using Lavanda’s service can log into an app in which the building managers allocate a number of a days in a year in which a tenant can legally sublet a property.
The recently-launched service aims to provide benefits to both landlords and tenants alike.
Tenants can lower their costs of living by monetising periods of “slack capacity” in their rented homes, and landlords can take a percentage of the revenue generated when a tenant sublets a property.
Trials of the platform are currently taking place across three private rented sector blocks, which are home to more than 470 different properties. Two of the trials are in London, while the other is being carried out in Leicester.
The property industry has experienced growing demand for compliant solutions to short-term rentals in a bid to find solutions to “illegal Airbnbing”, a practice in which tenants at a rented property sublet to others without gaining permission from a landlord.