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Future: PropTech

Future: PropTech

Technology and lettings go hand in hand as far as we're concerned at Storeys. Any opportunity to improve service and create a better experience for the landlords and tenants that we work with is worth investigating. And so we were excited to discover Future: PropTech last week - an event that is all about driving innovation and evolution in the property industry.

On the agenda

Future: PropTech attracts several thousand professionals from the property sector, including on the lettings side, and has an agenda that focuses on collaboration, sharing ideas and finding solutions to overcome existing obstacles. It's a great opportunity to see where technology is likely to go next and what kind of developments might help to make the lettings industry a better place. Innovation in the property sector has really only just begun evolving but there were some exciting ideas at Future: PropTech, including:

  • The use of Artificial Intelligence (AI). This has the potential to impact on virtually every business, from the big lettings agent to local letting agents in Hackney like Storeys. AI can bring automation and machine learning into the sector, releasing people from the more mundane day-to-day tasks so that agents can really begin to add value for landlord and tenant clients. AI could also make tasks such as valuations more accurate and efficient and, as it learns at it goes, functions and processes can be continually improved.
  • More application of Augmented Reality (AR). At Storeys we already offer 3D viewings but we are a cutting edge Hackney letting agent and this isn't yet a mainstream option for many consumers interacting with the property industry yet. As technology evolves we're likely to see it enhancing experiences and making them more efficient. For example, when someone enters a building with AR technology all the information required about that building could be presented in their field of vision. There would be no need to carry around pieces of paper or a tablet or laptop as everything is 'seen' instead.
  • Tenant engagement apps. The start and end of the letting experience can be full of time consuming and frustrating tasks for both landlords and tenants. However, technology - such as tenant engagement apps - has the power to change this. An app can help to simplify and speed up the onboarding experience for tenants so that everyone spends less time on administrative processes and box ticking and is freed up to get on with life.

The theme for Future: PropTech this year was "open collaboration" and one attendee summed this up as an environment where all parties involved provide some value to that ecosystem. From sharing data across companies for the benefit of customers, to collaborating to create technology that offers genuine solutions to industry issues, there is so much potential that events like this have for improving everyone's experience. Sometimes the lettings industry gets a bad rep but PropTech provides a wealth of opportunities to set right historic issues and start down a better, brighter path.

09 May 2019Written by Andrew Blythe

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Residential lettings
We pride ourselves on being genuine industry experts, providing a positive experience, from enquiry to after care. Storeys focuses exclusively on lettings, and we value properties, we don’t just list them. Knowledge and innovation mean we can be competitive on costs while also delivering an individually tailored service.
Property management
Storeys is a bespoke offering based on the fundamental principle of value for money – we want happy customers. Paperless tech and eSigning deliver efficiency and convenience, no high street office minimises costs. The result is a streamlined service nimble enough to tailor what we do to suit your needs.
Valuation
Aesthetics, natural light, building quality, and overall finish – these aren’t ‘extras’ in a Storeys valuation, they’re as much a part of the process as size, condition and location. We look at individual property potential, not generic criteria. Factors like space for modern living arrangements, such as flexible working, are incorporated too. Our valuations are all the more accurate and successful for it. There is a perfect tenant for every property if you know how to find them.
Short-term lettings
Providing value for tenants and continuity for landlords, Storeys short-term lets run from 4 weeks to 6 months. We work with major London relocation teams and a global contacts network to match international tenants to perfect London properties.
Vacant property Management
We can manage your vacant property in-between tenancies or refurbishment, giving you peace of mind that the property is being looked after and inspected on a regular basis.
Superior Marketing
There is just no comparison between static photos and VR when it comes to property marketing. VR allows tenants to do a virtual walk around and get a realistic feel for the property - their expectations are grounded in reality, and properly managed. This makes VR a very effective tool, not just for generating interest and viewings but also converting those to offers. That’s why we partner with VRPM to create a virtual reality perspective for every property we handle.
Airbnb Management
We can manage your Airbnb account and make sure each booking runs smoothly, keys are always available for handover and the property is ready for the next occupation. This can run very well alongside our short-term corporate letting service.
Rent Protection
If your tenant defaults on the rent, Storeys have you covered. We also cover your legal expsenses and pay you rental income if your property is vacant whilst we remarket for new tenants. Don’t worry Storeys have your back.*ask a member of the team for more info. This service is included for every Storeys managed property.
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