Back in 2016, a group of students at Leeds University founded Easy Student Living, an application that helps students equitably deal with bills and get the best deals on their utilities. Now named The Bunch, the company has 3000 customers and is starting to get agents on board with the service which promises them an opportunity to earn extra income around utilities referral fees as well as bring them lettings leads.
The Bunch charges tenants £10 to be a guarantor for their share of bills and rent and gives out £20 to agents when a household switches utility suppliers. According to Co-Founder and CEO Elliott Herrod-Taylor, the application’s Tinder-style app where tenants who have decided to live together swipe through properties telling the algorithm what features each housemate likes will eventually rival Rightmove for home hunters while making sure that housemates only ever pay their share of the bills.
“It’s really around creating a relationship when a tenant is young and they are looking for their first time and guiding them through that process. And then once they’ve found the perfect house, we look after them, we do them a good deal on the energy we make sure that they are only liable. And then we repeat that process.”
The company reportedly has a turnover of seven figures and several angel investors on board.