New approaches to real estate brokerage, short-term and long-term rental and even the mortgage application process are being driven by PropTech startups.
Most PropTech companies have exceedingly lofty goals for how data, artificial intelligence, blockchain, and cloud-based solutions will change the real estate industry.
PropTech Meaning
PropTech, short for Property Technology, is a term used to describe the use of technology in the real estate and property industry. PropTech is an emerging industry that is transforming the way real estate professionals, buyers, and sellers interact and transact.
PropTech is a combination of software, services, and hardware solutions that make it easier for property owners, agents, tenants, and buyers to manage all aspects of the real estate industry. It includes a variety of technologies, such as IoT (Internet of Things), virtual reality, 3D printing, and AI (Artificial Intelligence). PropTech solutions can help streamline the process of buying, selling, and renting property, from finding the right property to closing the deal.
PropTech can also be used to optimize the use of existing properties. For example, through the use of automation, sensors, and other technologies, property owners can better manage their energy use, optimize their operations, and improve their financial performance. PropTech can also help create new opportunities, such as allowing tenants to access their rental properties remotely or providing tenants with access to valuable information, like local real estate market data.
PropTech is becoming increasingly popular among real estate professionals, as it offers a wide range of advantages. It can help to streamline the buying, selling, and leasing process, reduce costs, and improve the efficiency of the real estate industry. It can also provide a more enjoyable customer experience, helping to boost customer satisfaction and loyalty.
As the PropTech industry grows, it is expected to create more opportunities for businesses and professionals in the real estate industry.
PropTech Companies and startups
There are a number of PropTech startup’s who have recently emerged, with big plans to disrupt the UK property market. Here are the hottest 5.
#1 Du Val Global
Du Val Global is a first of its kind PropTech platform. It provides property investors access to independent market intelligence and sophisticated, yet intuitive, financial models to forecast and compare property investments. This allows users to make truly informed and therefore better investment decisions.
In addition to its ground-breaking analysis tools, Du Val Global offers a range of properties for sale from leading developers in Australia, New Zealand, and the United Kingdom via its proprietary Du Val Dynamic Pricing™ algorithm. This sophisticated pricing model levels the playing field for small investors through aggregation, providing discounts of between 7.5% and 15% from retail prices, which, until now, have only been available to large institutional investors.
#2 Houzen
Utilizing data tracking, algorithmic analysis, and its development data lab solutions, Houzen’s goal is to increase revenue in a variety of different sectors.
In order to quickly pair tenants with landlords, it provides customised packages and on-demand reports. The organisation wants to establish a tenant-landlord stock exchange where speed is essential. By using the platform to rent in real-time, landlords may avoid losing money as they wait for vacant spaces to be filled.
By gathering information on tenants’ payment thresholds, the Proptech company is able to provide landlords with a clear sense of what rent levels will draw tenants.
#3 Homeviews
HomeViews is a website that allows users to review homes, neighbourhoods, and other places. Its offerings could be compared to TripAdvisor but for the real estate industry. It gives users more details about potential home purchases through in-depth explanations, visual cues, and images.
The platform solicits candid feedback from owners and tenants, which gives Proptech companies and real estate firms a stronger marketing and research tool.
Since its launch in September 2021, HomeViews has received over 9,000 reviews for 900 developments in the UK.
#4 FlatFair
With their No Deposit option for renting, FlatFair is out to disrupt the residential lettings business. Deposits, according to the founders of FlatFair, are antiquated since they only provide landlords with five weeks of security and can be difficult to get at the end of tenancy.
Deposits are an unnecessary up-front expense for tenants. Landlords have ten weeks of protection with No Deposit from FlatFair, while tenants just have to pay a nominal check-in charge. It will be interesting to see if this residential lettings business model gains traction.
#5 Habito
In order to simplify the mortgage application procedure, Habito was established in 2016. Finding, applying for, and obtaining a mortgage are made simple by their programme.
They provide free mortgage application and counselling, yet they also charge £2,000 for property surveys and legal services.
Are you thinking about buying an investment property?
If you are thinking about buying a property, you need to make sure you do your homework before you buy. Mistakes made investing in property are very expensive to fix.
We have built Du Val Global to help investors think through the issues which matter when it comes to investing.
Du Val Global
We built Du Val Global, real estate investment software designed to help investors make better investment decisions when they buy property. Our platform provides investors with the real estate investment tools to help with critical decision-making, including
- Research – access to powerful property analysis provides real-time market research, allowing
landlords to have a complete picture of tenant economics, prevailing
rents, and capital values - Financial Analysis – a property investment tool that investors can use to create financial models to determine net return after tax and return on investment. Investors can understand specific tax implications. Our property comparison tool allows investors to compare investments on an after-tax basis to determine the best investment for them. Investors can even compare properties in different countries
- Du Val Dynamic Pricing™ – Du Val Global offers a range of properties for sale from leading developers in Australia, New Zealand, and the United Kingdom via its proprietary Du Val Dynamic Pricing™ algorithm. This sophisticated pricing model levels the playing field for small investors through aggregation, providing discounts of between 7.5% and 15% from retail prices, which, until now, have only been available to large institutional investors.
- Portfolio Management – a property portfolio planning tool investors can use to monitor and track the performance of their investments.
Interested in giving our platform a go? Start your free trial today at Du Val Global.
