Top 10 Proptech Companies to Watch Out For
As an umbrella term for any and all technology tied to the property industry, PropTech is filled with emerging businesses looking to streamline the wider process. From apps that assist renters find new properties to fully-developed platforms that help investors manage their portfolio, we’ve rounded up the top 10 PropTech companies to watch out for in 2020.
A relatively new platform that aims to help landlords buy property through a limited company, GetGround streamlines the entire process, saving investors both time and money. By providing a UK company alongside company accounts and tax filings, GetGround are using an innovative tech platform to make life easier for investors.
Once the limited company is in place, investors gain access to a number of advantages including increased mortgage interest tax relief, lower capital gains tax and the opportunity to more efficiently take income from your property.
Made with the retail sector in mind, Appear Here is a platform that supports small businesses looking to rent shops, markets or pop-up store locations across the UK. By providing a range of potential locations to rent alongside a simple booking system, Appear Here has created a truly streamlined rental marketplace and a key piece of PropTech for the commercial sector.
Outside of the retail rental market, Appear Here has also built a wide community of entrepreneurs and creatives, with the final goal of supporting small business owners to take their business further.
Apps that assist renters with finding a property are relatively well-established at this point but as you’d expect, the industry is fast moving and advancements are always being made. MoveBubble, for example, have recently launched their ‘walkthrough’ feature, which features 1000’s of unfiltered videos created by current residents, offering a tour of your favourite apartment. Similarly, renters can discover and ‘follow’ their favourites to get real-time updates on availability and rental opportunities.
Love to Rent follows a similar format, with more emphasis on providing a portal for renters to find both ‘traditional’ Buy-to-Let properties and homes purpose-built for renting.
With the goal of ‘digitally connecting the property world’, Coadjute has developed an open network that enables smart and secure transactions across the property market. With partners that include estate agents, conveyancers, surveyors, brokers and lenders, Coadjute is hoping to support property transactions that take days rather than weeks.
By utilising blockchain technology, Coadjute is able to leverage tech that is also used by NatWest, BBVA, HSBC and ING – providing a global standard of security, privacy and scalability.
Trussle is an online mortgage broker that wants to make the mortgage process ‘fairer’. Whether you’re looking to remortgage or secure a new mortgage, the free service pairs you with a mortgage advisor that is able to compare over 12,000 mortgage products to find one that suits you. This not only streamlines the process but can also save investors money in the long-term – two vital goals of the PropTech strategy.
An award-winning app designed for property managers, Lavanda is designed to automate the property management process. Whether managing short or medium-term rentals, serviced apartments or even property businesses, Lavanda is ideal for property investors that need help managing a portfolio or even a homeowner that is looking to monetise their property.
With business performance analytics, operation analytics, distribution channel management, support with direct bookings and a built-in customer relationship manager, Lavanda aims to have everything a property manager needs in one app.
Described as the TripAdvisor of the property world, HomeViews is an aggregate of user reviews for developments across the UK from the perspective of the tenants. With individual ratings for design, location, facilities and management, as well as a built-in ‘concierge’ that can offer support with buying or renting at viewed developments, HomeViews is a complete platform designed specifically for tenants.
Homeviews has generated over 13,000 verified reviews from landlords, owners and tenants across 1,000 residential developments in nine UK cities, as well as partnering with a large number of major developers and operators.
Another key piece of PropTech for property managers, Plentific is a network of verified maintenance professionals and a dedicated management system rolled into one platform. With options for both property professionals and trade businesses, Plentific streamlines the process of managing multiple properties that may need regular maintenance or repairs.
Offering deep insights and analytical tools, alongside the main platform itself, Plentific is ideal for property managers that are looking to save time and resources within a wider investment portfolio.
Using methods employed by quantity surveyors and some of the most advanced technology available, Pocket Estimator is a simple way to quickly discover what a house renovation, extension or conversion might cost you.
By simply taking photos of the space, or importing floor plans directly into the app, users can get a detailed breakdown of material and labour costs – all pulled from averages within a national database.
These estimates can then be used to assess project feasibility, project budgets or compare to builder quotations.
As you’d imagine, these businesses are just the tip of the ‘PropTech iceberg’. Despite having a wide range of early adopters already in place, the industry is relatively new and has incredible scope for innovation.
For investors and developers, it’s vital to stay ahead of PropTech news or risk being left behind, especially when these advancements in technology could directly impact the success of your investment.