Following its acquisition by the American data and tech company CoStar last December, OnTheMarket’s CEO, Jason Tebb, has signalled a new era of growth for the property portal. As part of its ambitious goal to lead the UK property portal market, OnTheMarket has introduced a specialized Build-to-Rent (BTR) listing platform, aiming to stir up more competition within the sector.
The BTR membership package includes a commitment to members in the form of a bespoke account manager, ongoing support, and quarterly in-person meetings.
Members will benefit from OnTheMarket Expert, which provides a suite of rental management tools, offering data analytics, rental market trends, and insights at a local level, which complements its Sprift Market Appraisal Guides.
Mitch Hammond has been appointed to spearhead the new service, focusing on strategic sales and creating a dedicated BTR sales team. Presently, established names such as Cortland and Populo Living are already listing their BTR properties on OnTheMarket, and anticipated growth includes an influx of diverse BTR operators.
Hammond, the new BTR manager, comes from a strong property background, including over six years with Foxtons concluding as a Build to Rent business development manager, and a stint at The Ringley Group as head of mobilisation and strategic leasing.
Confident in the platform’s potential, Hammond compares the BTR service’s prospective success to what OnTheMarket has achieved with its New Homes department. With the BTR market booming in the UK, he sees an opportunity for OnTheMarket to bring valuable competition to the sector, maintaining a focus on fair and sustainable pricing to help promote properties and communities.
Jason Tebb, president of OnTheMarket, praises Mitch’s extensive experience in BTR, crucial for the growth of this new venture. The company is at a turning point with CoStar Group’s acquisition providing global expertise and financial support, which Tebb believes will greatly benefit their clientele.
OnTheMarket is committed to an equitable and enduring pricing strategy for its BTR services. The aim is to offer agents, developers, and operators a competitive alternative in a market that is witnessing significant growth.
OnTheMarket’s move into the BTR space comes on the heels of Rightmove’s acquisition of the BTR-focused review platform HomeViews. HomeViews represents the UK’s largest collection of certified resident feedback on property developments, with a special emphasis on the build-to-rent sector.
