No such thing as a free rent

Or is there? Meet Uppie, a slightly difficult-to-fathom proptech launch (and a name that plays fast-and-loose with the urban dictionary). Uppie’s about matching reluctant landlords and struggling vendors with credit-worthy but deposit-less first-time buyers and adding the magic ingredient of time. Six months of it, to be exact… in which the buyers move into the property and effectively pay rent to themselves, building up a deposit. It’s a half-a-year window between exchange and completion; agreed, paperworked and monitored by the Uppie software.

It’s a genuinely original idea and so – like all original ideas – poses questions. Property Industry Eye appears to worry most about arrears and evictions in the absence of an Assured Shorthold Tenancy agreement. We would worry about disputes in the case of a suddenly rising or falling market.