Harry Hill, founder of Rightmove and former CEO of Countrywide, has joined Lavanda as chairman.
Lavanda launched in February this year and aims to blend traditional letting with Airbnb-style short-term rentals. It claims it can increase rental yields for landlords by up to 10% and enable tenants to make extra money by sub-letting.
Lavanda currently operates in London only. It aims to capture 10% of the London lettings market within the next five years.
Hill said: “The future of residential property has the sharing economy at its heart, a truth that most traditional agents and property managers refuse to acknowledge.
“Lavanda is uniquely positioned to power that future, creating new value through luxury hospitality, proprietary technology and data.”