A new portal that streamlines finding, inspecting and leasing warehouse space for tenants may be the Uber of warehousing. At the same time the system amplifies property visibility for landlords, helping them to source tenants and lease space cheaper and faster.
The disruption that brought lower costs, better competition and more choice to traditional industry sectors like taxis and transport, power and gas, and holiday rentals may have an effect on Australia’s freight, logistics and warehousing industry with the recent launch of uTenant.
The brainchild of entrepreneur and former commercial leasing agent Matt Sampson, uTenant puts tenants and landlords in direct contact and provides a confidential, transparent, cost- and time-effective alternative to the old way of leasing space.
“With uTenant, we have reimagined how industrial warehouse space is leased, providing significant advantages and savings for the two most important parties to the transaction – the tenant and the landlord,” said Sampson. “uTenant is intended to disrupt the commercial leasing industry like Uber has for taxis and Airbnb has for holiday accommodation.
“For tenants, the web-based portal will curate a list of available properties based on their specific size, location and preferred term of lease amongst other things, and connect them with landlords to arrange inspections, negotiate terms and sign a lease.”
uTenant is free for tenants, and because it is confidential there is no risk of their names and warehousing requirements being disclosed to the market and competing agents, which could reveal sensitive information to their competitors.
How the service works:
- Tenants enter their specific requirements into the uTenant portal
- uTenant curates a tailored list of suitable properties, which have already been validated as legitimate
- Tenants shortlist preferred properties and arranges inspections directly with the landlord or through uTenant
- Inspections take place and direct tenant-landlord negotiations commence
- On conclusion of a lease, standard fee payable to uTenant by landlord, with uTenant sharing a percentage of this with the tenant
As well as being able to deal directly with tenants and potential tenants, landlords using uTenant save time and money on their marketing costs through the streamlined listing process.
“Paying to mass market and advertise property is just promoting and giving exposure to the real estate agencies and driving revenue for the advertising platforms,” said Sampson. “These costs are a thing of the past for uTenant landlords because their properties will be directly targeted and visible to an engaged audience of tenants that are actively looking for space.”