Hello Neighbour’s new services aim to simplify and reduce the cost of property lettings, which is an interesting development in the competitive London rental market. Here’s a breakdown of what they offer:

1. Get Listed Service: At £29, this service allows landlords to list their properties on major property portals such as Rightmove, Zoopla, and OnTheMarket. Given the high fees charged by traditional estate agents for listings, this represents a significant saving for landlords. The payment is made only once the listing goes live, which offers some security to the landlord.

2. Get Rented Service: The more comprehensive £89 service goes further by offering credit checks, referencing, fraud detection using AI, property compliance checks, and tenancy contracts. It also arranges move-ins, collects the first month’s rent, and registers security deposits. This package is only paid for when the tenant moves in, making it a more performance-based model.

3. Technology-Driven Platform: Richard Jenkins highlights the platform’s use of innovative technology that has already supported successful property rentals. This technology aims to make the letting process simpler and more affordable, which could be particularly appealing to landlords who want more control and autonomy.

4. Affordability and Autonomy: The core appeal of Hello Neighbour’s service is its affordability and the ability for landlords to maintain autonomy throughout the lettings process. The platform’s pricing structure is designed to be competitive compared to traditional estate agency fees, while the self-service model allows landlords to navigate the process at their own pace with expert support available when necessary.

5. Market Response: The fact that Hello Neighbour has received five-star reviews since launching its self-service product shows that some landlords appreciate the convenience and low cost of their platform. However, the true test of its success will likely be whether landlords continue to use the platform long-term and how it adapts to changes in the rental market, including regulatory changes or market fluctuations.

In conclusion, Hello Neighbour seems to offer a cost-effective, tech-forward alternative to traditional lettings services, which may appeal particularly to landlords looking to save money while maintaining control over the process. The next challenge will be whether it can meet the diverse needs of landlords across the entire lettings process and keep up with market demands.