Proptech
News focusing on new technological solutions which create efficiencies and cost-savings for estate and letting agents and the wider residential property industry.
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How can it be so cheap? Online agent launches £35 HMO service
Online lettings firm No Agent is claiming to be the first in the industry to offer landlords a fixed-fee management service for HMOs, charging £35 per room a month in England and £55 in London. The package includes a tenant finding service but not photos, which landlords will have to pay extra for. No Agent’s launch, which it says would work out at a 4.5% management fee excluding VAT, is designed to undercut traditional agents which it claims charge between 10-15% for a similar service. Landlords are charged a £100 set-up fee for its HMO package to pay for licensing and property condition checks. Photos are charged at £250 for the first room and £35 for each subsequent one, a cost which includes 30 days of accompanied viewings. The online agency, which has so far been funded partly through two crowdfunding campaigns and private VC investment, says its new HMO service is designed to attract landlords caught between the recent buy-to-let tax increases and the looming tenant fees ban. HMO service Its £35 service for HMO landlords includes quarterly inspections, rent collection, contract renewals and property management. No Agent also reports tenants’ rent to Experian if they agree to it…
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London letting agent LiFE Residential invests again in proptech
The agent says GetRentr can help it lighten the 'massive burden' of managing licensing requirements in London and in return it has backed the company financially.
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First digital mortgage signed by borrower
Coventry Building Society and Enact Conveyancing have lodged the first digitally signed mortgage, into the Land Register, for a house in Rotherhithe, London.
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Proptech firm that claims to predict when people will move home gains US foothold
A proptech firm with offices in Australia and the UK has signed a deal with the US National Association of Realtors to gain a foothold over the pond.
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Sotheby’s launches Curate
Sotheby’s International Realty Affiliates LLC has launched Curate, the first mobile augmented reality (AR) app that will bring a home’s virtual staging images from 2-D perception into augmented reality.
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TripAdvisor for the rental market
HomeRenter, an online lettings platform, has launched a ratings and reviews service. It enables both tenants and landlords to review each other after one month of engagement and then again at the end of a tenancy.
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PropTech startup generates $4m
Spotahome, an online platform for mid to long-term rental accommodation, handled over $4 million (£2,864,629.76) in residential rental transactions since its UK launch in March 2016.
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Property licensing tracker proptech firm wins £500,000 investment
GetRentr receives financial backing from London lettings agency, leading City investment firm and several private investors.
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Pelican’s new tool for residential sales
Pelican Media is launching PelicanLITE, its latest and most efficient digital tool for residential sales.
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London house is first in UK bought via a mortgage deed signed and lodged online
on Rotherhithe in London will soon be famous for more than just its Brunel-built tunnel underneath the Thames. Yesterday, a house there became the UK’s first home purchased via a mortgage deed signed and lodged with the Land Registry online and without the need for a physical or witnessed signature. This begins a process that will see much of conveyancing and the mortgage lending process move from mountains of paper to an online procedure which, agents will be relieved to hear, is set to significantly speed up sales progression. This first transaction was completed by the Land Registry in partnership with Coventry Building Society and conveyancing firm Enact as part of an initial test. It included using the government’s online identity verification system GOV.UK Verify to enable the borrower involved to sign the mortgage deed online without the need for a witness. Pioneering The pioneering transaction is part of the Land Registry’s attempts to transform the conveyancing market by making home buying quicker and simpler. And although a small first step, the Land Registry says the transaction follows months of testing with Coventry Building Society and Enact. “By working with partners in the industry, we have secured a simpler and…
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