As property prices in the UK rise to unprecedented levels, more and more Brits are turning to rental accommodation as their only viable long term housing solution. The property industry however is not known for its transparency, and an increase in landlord-renter relationships has inevitably led to an increase in easily avoidable disputes.
Generally speaking many housing issues, such as tenancy disputes between landlords and tenants, occur when there is a lack of transparency and clarity between parties. Creating an enduring environment of transparency in the housing industry, particularly in the rental sector which has a reputation of being unregulated, is something that Weroom is determined to pioneer.
In growing companies, transparency is fundamental. It is impossible to grow quickly based on ambiguity and lies. Weroom has grown successful over the last two years in no small part due to an emphasis on transparency across all levels of the business.
Being transparent has been fundamental in building trust and driving loyalty amongst our users. This meant that from the very beginning, I took steps to ensure that transparency became part of the natural order of the company and, in turn, has led to a company that strives to work openly and fairly.
As well as creating a transparency ecosystem for users across all markets – with all users vetted with the same stringent security and identity checks – it is important to develop and maintain an open way of working in the company head office. Actively discussing transparency helps it to become second nature. At every company meeting, we look to share examples of how we have worked transparently – this could be anything from responding to social media questions quickly and openly and encouraging debates via social channels, to liaising with landlords honestly about their properties and working to arm all users with knowledge and understanding to make the most of their rental experience.
Such is our commitment to transparency that Weroom’s Product Manager is tasked with making sure the marketplace is transparent for our users. The Product Manager’s roll includes to check all the listings and the interaction between users in order to prevent from scams and frauds. For a start-up, employing a member of staff to focus on transparency as part of their remit was a big investment, but it is critical to make this pledge to grow and develop.
Recent research by Weroom found that as many as a third (31%) of British renters did not know their legal rights when it comes to renting, with just over one in ten (13%) are confident in their responsibilities. This has to change. As part of Weroom’s work to increase transparency in the industry through increasing awareness and understanding amongst landlords and renters, we have recently created a free to downloadable Deposit Protection Guide to arm users with hints and tips to minimise disputes.
By trusting our users by being open and honest, we have gained their trust back. As Weroom looks to the future in the housing industry, maintaining transparency will be critical in changing the current murky outlook.
By Thomas Villeneuve, CEO of Weroom.com.
Thomas founded Weroom in 2013 and the marketplace now operates in the UK, France, Germany and Spain, with 300,000 users globally.
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