Proptech: Top 15 Companies Changing the Market in 2023
The top news stories this week in the world of UK property: London landlords are being offered a £6,000 incentive
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New Beginnings
The proptech sector saw some $23.75bn investment in 2020, despite a crippling pandemic that affected all industries. This is evidence that tech companies are making advances in various sectors, improving practices, and disrupting traditional models. It's no different in the property sector, which has plenty of room for new players to improve and provide solutions to outdated real estate models.
In this comprehensive guide, we delve into the top 15 proptech companies working to change the lettings market for the better.
Lavanda
Lavanda has been operating since 2015, using its own SaaS platform to provide solutions to the short-lets property market. Its business model and services enable landlords to gain access to demand for short-term rentals and offer solutions to hospitality operations.
The company promises to boost your net operating income (NOI) through flexible rentals. The company is particularly useful if you have an extensive portfolio of properties to manage and want to extract as much profit from void periods. Among its tools are data reports for easy monitoring, market analysis tools for maximising growth potential, and customisable operations automation.
As evidence of its operational excellence, the company was awarded Best Short-Term Rental Platform in 2018.
MoveBubble
MoveBubble was created to improve the renting experience for tenants in the UK. The company conducted extensive industry research to identify pain points and figure out solutions to improve those areas. Unlike traditional property portals, when applicants enquire about your property, they won't be directed to an estate agent. Instead, the company's app puts renters in direct contact with you. The system eliminates the need for an intermediary, which reduces costs and speeds up the rental process.
In addition, MoveBubble's app is more rental friendly, with plenty of search options that allow renters to narrow down their search to the perfect property. That will enable you to advertise your home with all your requirements already listed, reducing any loss of time with applicants that aren't suitable.
You'll also be able to upload a video to the platform showcasing the property, improving the decision-making speed for tenants.
HomeRenter
HomeRenter operates more like a traditional estate agent but entirely online without any of the extra costs involved. The company's service aims to improve the letting process for both tenants and landlords. Thereby allowing for direct communication between both parties. The firm describes its service as an AirBnB-style marketplace that provides better value.
Within five easy steps, you'll be able to list your property across multiple letting platforms online. After which you're able to then communicate with potential tenants through the company's own secure chat system. The company even offers the first listing for free, so take advantage of renting your first property.
On the other hand, if you're looking to rent a property, you won't face any of the hidden fees common with high street estate agents, and you can arrange viewings for when it suits you.
Appear Here
A new and exciting addition to the retail space rental market in the UK. Appear Here provides a tailored and flexible service that turns your idea into a reality. You can search through an array of commercial properties in the UK and find the perfect spot for your venture through the proptech company's platform. Once you've detailed your idea, Appear Here contacts the landlord with your proposal.
Whether you're looking to launch a pop-up or list your own property, Appear Here provides an online solution that takes care of legal payments and communication securely. The company attaches a professional to your case who will guide you throughout the process. As of November 2021, the company has worked with over 250,000 brands.
Once the landlords approve your idea, the company provides additional services, such as help finding staff and fitting the store to your requirements.
Vreasy
If you have a portfolio of holiday properties, Vreasy provides a one-stop online platform that will make it easier to manage your properties. The company's central platform maximises your reach with connections to various sites, such as Airbnb and Booking.com. It provides an easy to view calendar that details your bookings, tasks, payments, and messages in one place.
The platform also provides valuable metric data on your rental properties and enables you to provide additional services to increase your income potential. Other features include staff management and various automation, such as guest reminders, welcome messages, and instructions.
Coadjute
A fantastic solution that improves the efficiency of the property market. The company's intelligent network enables property software to connect and share information effortlessly. This means that estate agents, mortgage brokers, landlords, and lenders can share data efficiently and securely through digital means. This solution improves the speed of the property sales and letting process and reduces costs.
Goodlord
It's not just the play on words that's great about this company. Goodlord's platform improves the tenancy period for both landlords and tenants. The company manages the tenancy process of over 1,000 brands, from sending the offer letter and collecting rent to handling tenant issues.
The platform cuts out the need for the amount of paperwork that's usually expected from traditional high street estate agents. By allocating the tenancy process to Goodlord, you'll improve the customer experience and letting process for all parties involved.
Goodlord also provides an array of built-in services with its online platform, including thorough reference checks, utility switching, and rent protection. You'll also receive landlord leads, void management services and account management, all via Goodlord's online platform.
Housemates
Booking student accommodation can be stressful. Competition is high, and the quality of properties can be hit or miss. Many students also find themselves paying hidden fees to high street estate agents who take advantage of students in large university towns. Housemates provides a solution to that problem. Tenants can find safe student accommodation through its online platform with no hidden fees and a quick process.
The proptech company only showcases properties from verified providers and is transparent regarding property information. The best part? The company's service is entirely free, and bills are always included with the monthly cost, so you know exactly how much you'll be paying. You can find rooms to rent or entire apartments if you already have a group of people to rent with.
Fixflo
Property management is vital to ensure that your rental business runs smoothly and that your tenants are happy with your service. Flixflo provides proptech solutions to make property management more accessible, regardless of your portfolio type.Its model has changed how the need for repairs and maintenance are reported by tenants, helping property managers improve their business.
The company's platform integrates as much property management software as you need and a central contact point that keeps all parties informed, eliminating the need for lengthy emails. In addition, its service helps landlords and property managers stay compliant with the latest laws and regulations.
Tenants use the company's app to report a problem with a detailed description of the issue. If the case falls under the tenant's responsibility, the platform will notify them of the best course of action to fix the problem. You can also track the progress of ongoing works and schedule any maintenance works that are due.
Rent Profile
Rent Profile aims to enable estate agents to process new tenants within as little as 20 minutes. The proptech company has a history of providing solutions for the letting market, such as the UK's first completely digital landlord background check-in 2016. The company also offers a digital solution that speeds up the referencing process for landlords and estate agents.
Rent Profile has a comprehensive range of solutions for tenant onboarding, including holding deposits, providing terms, and checking references. The solutions significantly improve the setup time for new tenants and enable agents to focus on revenue generation. It also ensures that estate agents remain compliant during the tenancy process and avoid any legal trouble.
AskPorter
A fantastic proptech platform that utilises AI to improve customer service for renters and efficiency for landlords. The platform is broken down into three parts:
- Digital assistant: 24/7 support through intelligent AI conversations that resolve issues.
- Management platform: An AI-powered platform that improves property management, including e-signing, ID checks, and assignment of team tasks.
- Insights: Receive updated reports, audit history, and compliance on one platform. You can also integrate any of your existing systems.
The best part is that the company provides the solution under a white label to then implement your own branding.
Halo
A new proptech start-up with a focus on helping stakeholders involved in the property letting process to maximise their yield. The company does this by matching tenants with the right property whilst minimising admin for estate agents to focus on generating more revenue.
The company wanted to expand and improve the traditional property management model by introducing an array of digital solutions and automation. Its platform is easy to use and can be integrated into any property management software. Communication is one of the critical areas of improvement for many estate agents in the UK.
If you're looking to rent a property, the Halo's platform allows you to manage the entire process from your phone. It takes minutes to apply, after which you can track your application, sign documents and make payments in the same place.
Flatflair
Flatflair offers landlords and tenants greater safety and lower moving costs through its digital No Deposit product. For the most part, property deposits aren't sufficient coverage for landlords, whilst rental moving costs have hit an average of £2,043 in London. To help reduce that burden, proptech platform Flatflair only charges a small check-in fee, with tenants covering any damage when they leave.
Tenants also only pay for damage caused by them. Whilst landlords get up to 10 weeks of protection, as opposed to the traditional five weeks with a standard deposit. In addition, landlords are paid for damages or missed rent within ten days of the agreement. The company also handles various check-in/out tasks, such as reference and inventory checks.
Oasis Living
Last but by no means least! We're a new proptech market disrupter with a fantastic outlook to improving property lettings and management practices. Oasis Living uses AI and innovative tech solutions to speed up the entire property letting process, with reduced void periods, a better viewing experience, and a more efficient property management service.
Renting a property in the UK can be a long and expensive process. With landlords bogged down with paperwork and endless offline steps. Through us, you can find tenants for your property with a fully digital process and the use of AI to manage viewings.
We also provide top-tier photography and an excellent staging service to ensure your property looks its best. In addition, our team handles all property management services for just 5% per month on your behalf. The service ensures that your property complies with the latest laws and regulations and includes 24/7 customer service, an intelligent console that allows you to keep tabs on your property details, and free maintenance call-outs.
Our company's operational model works to find you the perfect tenant, whilst the use of tech lowers costs compared to traditional high street estate agents and increases your yield with lower void times.
Get in Touch
We hope you've enjoyed our rundown of the Top 15 Proptech companies making strides in the sector! For more tips, or to simply get in touch with our team, contact one of our property experts here.
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