The Private Rental Sector is undergoing a digital revolution. Kamma is at the forefront of the PropTech sector constantly exploring new technologies and better ways to improve the property licensing awareness and compliance for agents, lenders, conveyancers, landlords to name a few. Below are some considerations Kamma have researched for how we see digital impacting the rest of the sector this year
Digital transformation is slowly taking effect in the Geotech world and the UK property sector and is driving open data initiatives. Key organisations such as the HM Land Registry are now publicly sharing access to open data and are driving digital change via initiatives such as digital street; an ongoing data research project exploring ideas, working with partners to explore and discover the differences they could make together.
For over a year we’ve been connecting with conveyancers, lenders, PropTech companies, data providers and the public to investigate how technology can be used make it simpler, quicker and cheaper to buy or sell property.
…which is great news whether you are a landlord, estate agent, or a letting agent managing a rental property portfolio, a mortgage provider or a conveyancer. Kamma have been a partner of the HM Land Registry for over 2 years in conjunction with Ordnance Survey through their Geovation programme.
Greater use of social media is becoming common place. In January 2019 the first sale of a property on Instagram via a developer took place. This certainly highlights a possible new trend and proves how valuable free social media channels can be in promoting property just as with any other product online.
Smartphone apps for house sharing tenants to find each other are becoming more common across Europe and are making their way over to the UK. More ‘dating style apps’ for house sharing tenants are likely to appear in the market this year, which aim to help bring tenants together and allow for easier, safer and less expensive ways to find new housemates and to promote vacant rooms. One such app is Barcelona-based Badi which has already proven itself in Spain and has now landed in London, where it aims to steal market share from Spareroom, Rightmove and letting agents.
The use of Blockchain in the property purchase process, has the potential to open up property transactions and allow those involved to stay up to date digitally. Historically property purchasing has been bureaucratic and slow. Blockchain has the potential to unlock a new transparent way of working for all parties for an easier and quicker process all round. This in turn could significantly increase investment for buy to let and ensure a constant flow of available private rental properties to market.
To help put a financial value against the impact Blockchain will have, the Government confirms at their recent conveyancing conference 2019 that this costs the UK consumer somewhere around £270 million in surveys and searches on properties that they do not even end up owning.
Geovation
Start-ups with innovative geospatial or property technology ideas are invited to apply to our 2019 Accelerator Programme. For more information on how to apply to the Geovation Accelerator Programme, visit www.geovation.uk/programme or email us at programme@geovation.uk.
Backed by Ordnance Survey (OS) and HM Land Registry, the Accelerator Programme has produced a steady pipeline of success since its introduction in 2015. A total of 84 start-ups have gone through the programme, creating more than 200 jobs and raising £23.3 million in investment funding.
Contact us or book a demo now to understand how Kamma can solve property licensing for you.
