Rentify Ltd (07723819): administration
- Status
- Administration ended
- Administration began
- 2022-01-27
- Administrators
- David Rubin, Stephen Mark Katz
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2011-08-01
- Location
- London
- Industry
- 62012 Business and domestic software development
Why it went into administration
- COVID-19
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Property / lease costs
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated in 2011 by Struan George Mcrae Spencer (“GS”) and after raising £50k of
. initial funding developed an online software platform for landlords and tenants to.use to manage their tenancies together, with the service launching at the end of the year. The Company derived revenue from the platform on an “a la carte” basis where landlords would setect and pay for the individual services they required.
This changed in 2016 when the Company launched a traditional property management service, and subsequently changed again in 2017 when the Company launched a fixed income product for landlords forming the basis of its business model thereafter. At this time the business shuttered the other products it had previously offered to focus solely on this revenue stream.
Administrators' statement of proposals (2022-03-29) · Companies House register