Residential asset managers must wake up to the power or proptech
02/08/2022
Author : Mary-Anne Bowring
Wake up to Proptech
Mary-Anne explores for React News why the more we use data to make calculated decisions, the more we can safeguard against losses. Surging inflationary pressures, high levels of government debt and an unpredictable economy mean a torrent of investors are turning to real estate as a safe haven and a hedge. In times of volatility, the purpose-built residential rental sector is valued for its defensive, counter-cyclical qualities and promise of long-term income generation. After all, we all need a place to sleep. Each lease renewal also offers an opportunity to adjust and finetune rental income, to minimise erosion of yields in real terms. Surging real estate investment has ushered in a corresponding growth in proptech investment levels which, after a few years of relatively underwhelming performance, hit record highs in 2021 across the UK and Europe. [...]
Mary-Anne Bowring: Residential asset managers must wake up to the power of proptech
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Under Offer: This term applies to a property where the landlord is considering an offer but remains on the market. It implies that further offers may still be considered until the landlord formally accepts or declines the current offer.
Let Agreed: This term indicates that a landlord has provisionally agreed to enter into a rental agreement with a prospective tenant, pending additional checks and referencing. It doesn't require the prospective tenant to have paid a holding deposit.
Let: This term signifies an established binding rental agreement between the landlord and tenant.
For both lettings and sales, the guidance addresses additional terms:
New On The Market: This term is used for a property not advertised since its last sale or rental. It should only be used for a brief period.
New Instruction: It applies to a property assigned to an agent for marketing recently, even if it was previously listed with another agent without being sold or rented.
New and Exclusive: This term refers to a property that is either new on the market or a new instruction, exclusively available through a specific agent or portal.
New Method of Sale/Let: This term is used when a property is being marketed for sale or rent using an alternative approach to the original advertisement, such as transitioning to an auction or sealed bid.
Reduced: This term indicates that a property's price has recently been reduced. The reduction should be genuine and comply with the Chartered Trading Standards Institute's guidelines on pricing practices.