Howsy, the online property management platform has today announced that it has acquired Urban.co.uk, a national online letting agents, for an undisclosed sum.
The acquisition of Urban marks Howsy’s first move after their recent announcement of a £5m investment led by Skybound Capital, enabling them to further advance in their shake-up of the UK letting sector.
Urban concentrates on a quick, self-service online tenant find solution, and has built a reputation for excellent customer loyalty, having successfully operated on a national scale for many years.
Howsy provides an end-to-end property management platform for UK landlords, from tenant find through to repairs management and renewals, combining technology and innovative insurance products to offer a low fixed-fee management cost, saving landlords thousands of pounds a year.
The deal combines Urban’s focus upon finding tenants with Howsy’s expertise in the use of smart technology to create a seamless property management experience at a significantly lower cost to let for UK landlords.
Founder and CEO of Howsy, Calum Brannan, commented: “With so much focus in the property industry on the buying & selling market, the rental space is often overlooked. Howsy benefits from stable recurring revenue, mixed with cutting edge technology so we can reduce the costs to operate by up to 70% compared to high street agents.
“Both businesses bring a different set of skills on which they’ve both built a great degree of success but by combining these, we are able to create a lettings powerhouse that will provide a complete and unrivaled offering to UK landlords.”