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Landlord Journey (Landlord thinking about renting property next year (Bunk…
Landlord Journey
Landlord thinking about renting property next year
Bunk enters into their thoughts
Marketing cost for bunk
Landlord logs onto BUNK website... Logs the details of their property (for LL check), and uploads a description along with photos.
Bunk Checks and amends description (including adding info about our app, no deposit, no tenant fees, seeing if pics appropriate, et cetera).
Landlord selects what package they want (Fully managed vs Self managed) and enter payment details.
Bunk pings off amended description to our website and other advertising partners (Rightmove, Zoopla(?))
BUNK sets up BUNK account for landlord, he can now log on and view his properties, view listings, receive payments to his bank account et cetera.
Note: If we are no let no fee, and we are advertising elsewhere (RM), how do we make sure we aren't just giving this free to landlords, if they end up renting through someone else?
Landlord is now set up with BUNK. They can view their dashboard, and depending on their product (FM vs SM) they will receive info about viewings and tenants soon.
Self Managed at 3% of total rent (On avg, approx £600 / year)
includes: No rent no fee - no upfront payment to bunk, just take money off your rent when tenant found. Advertise on Rightmove. Have your rent automated and easy to monitor (who's paid, who hasn't). Landlord analytics. Pick from our pool of approved and rated tenants. Maintenance requests go straight to you. Able to interact with tenants in a more coherent way.
Landlord will get notified when prospective tenants are interested, and they can organise viewings with them on our website.
Would this be preferred to be done outside of bunk, e.g. just ring up and sort viewings? as opposed to logging in and booking them in?
Landlord conducts viewings with applicants.
What stops landlords from arranging viewings themselves, and then breaking away from the bunk service, to avoid having to pay 3% of rent, and the tenants don't have to go through the 'unusualness' of downloading an app or making user profile to rent.
Tenants put in offers to landlord. Landlord can choose to accept or reject.
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Fully Managed at 8%
Landlord will get notified when we think we have found good tenants for them. Will send a note through of their profiles, etc. Everything will be put in place for tenants to rent.
Note: The sell of user ratings to landlords is not a sell to fully managed landlords, as BUNK will be the ones picking the tenants. Tenants also won't have a choice of whether they want to stay on BUNK next year, unless they deliberately seek out BUNK properties. They might see that as giving less importance to their user rating, which would be a flaw.
Tenants set up their accounts and direct debits. We take a months rent in advance from tenants, which is paid out exactly on the start date of tenancy contract to landlords (minus our fees).
The landlord receives their rent guaranteed from all tenants, at the start of each month, every month, until the tenancy agreement has finished.
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Includes everything you would imagine from a fully managed service, e.g. finding tenants, sorting maintenance, doing inventories (by our lettings agents on payroll) and includes a rent guarantee.
Bunk Checks LLs details (is the property and owner legit?)