Breaking Property News – 19/01/24
Daily bite-sized proptech and property news in partnership with Proptech-X.
HqO acquires Symbiosy, a smart office solution developed by HB Reavis
HqO further scales people-centric product portfolio and continues rapid global expansion
Some years ago I was fortunate enough to attend a pitch event given by HB Reavis at their London HQ, which led me to become a big advocate of their business, and an equally big fan of Symbiosy, which in my simplistic view was a philosophy of how to nurture and cradle the human in their work environment. Back then many years before the switch to different operating systems for work, HB Reavis whose main focus is build and develop huge workplaces for the future, understood that the built environment, people and work needed to blend in harmony.
Fast forward some years and I delighted to receive the following Press Release, showing that HqO who seem to be striding forward at a time many operators are scaling back, have acquired the now fully developed Symbiosy system, in what to me will be a really big piece of solving the jigsaw of work in the future, the where the how and the balance of the human, to get the best results for all stakeholders. I look forward with interest to see how this all rolls out.
Press Release Leading real estate experience platform HqO, has made a strategic acquisition of Symbiosy, a workspace technology created by international workspace provider HB Reavis, which offers a portfolio of smart building solutions consisting of systems integrations, IoT, and software interfaces.
Symbiosy’s portfolio of cutting-edge smart office technology solutions offers employee experience, data management, and visualization tools that support enhanced workplace experiences for increased performance. Symbiosy’s proven delivery of high-quality, digitally led experiences across all assets is directly aligned with HqO’s mission to connect real estate to the people through a cross-property suite of powerful applications and services that foster best-in-class, dynamic end-user experiences.
Top Proptech Trends in 2024 – Wes Snow CEO of Ascendix
Wes Snow CEO of Ascendix, ‘As we step into 2024, the proptech arena remains dynamic and full of transformative potential, and AI and machine learning aren’t the only trends driving progress. So let’s look at six top proptech trends that professionals and companies should keenly follow to stay at the forefront of the ever evolving proptech industry.
Co-Renting & Co-Living Marketplaces Call it ‘adult dorms’ or ‘community living,’ the reality is still the same – co-living and co-renting are a proptech trend to watch amidst rising home prices and inflation. Most co-living platforms like Allihoop, Common, and Badi act as real estate marketplaces where users can look for a property, learn more about the community life, and get in touch with the property operator.
For the future of proptech, shared spaces and customized experience mean the increasing need for: Smart home automation to make one’s stay comfortable; Smart building systems, since more tenants equals higher resources consumption; Managing co-working and ‘co-leisure’ spaces will require property management tools with advanced messaging & booking functionality and integration with event management tools in some cases.
Since managing co-renting spaces includes a bigger number of properties management tasks, some tasks like rent collection and maintenance request processing will require automation; Co-living and co-renting platforms often function as mid-term rental portals, which, in turn, calls for AI property matching algorithms, AI lease abstraction, and chatbots that are ready to process tenants’ requests and inquiries 24/7.
Neighbourhood Social Networking Apps will become a part of community living aka co-renting & co-living, helping potential tenants find and connect with the future co-renters based on interests and location and even compare property ratings and reviews like in the ‘real estate Tik-Tok’ app Playhouse.
Material Information in Property Listings: Parts A, B and C explained by Inventorybase
Inventorybase understanding the huge importance of the recent guidance issued by the National Trading Standards’ Estate and Letting Agency Team in Q4 last year. Outlines the long-awaited updates to material information, specifying the ins and outs of the recent additions parts B and C, as well as the legal obligations of agents under the Consumer Protection from Unfair Trading Regulations 2008.
Inventorybase, ‘Everyone in the property industry is aware that property professionals will be under a further duty of care to consider the context and circumstances of each property listing to determine what is material in any given situation; with intentions to clear up any debate surrounding what should be included in property listings. Failure to get it right or omit the deeper levels of detail now prescribed, will no longer be acceptable.
Maria Harris, the chair of the Open Property Data Association (OPDA), welcomed the updates to material information, saying: “This is another key milestone on our journey to digitising the home buying process. This new guidance will improve transparency and interoperability, creating a better customer and user experience.
“Brokers, lenders, valuers and the buyer’s conveyancer will have the information they need from verified sources at the beginning of the transaction. This will mean fewer nasty surprises too late in the process, fewer fall throughs and delays. The guidance should also mean better protection for the consumer.”
The Estate and Letting Agent Team also documents practical advice on how to proactively request and verify material information, clearly display it in property listings, and provide timely updates when necessary.
It’s important to note that this guidance is not a standalone document, and should be considered alongside other legal and regulatory obligations contained in the NTSELAT Guidance for Property Sales and Lettings, the Consumer Protection from Unfair Trading Regulations 2008, any professional obligations (such as redress scheme membership), as well as legislation like the Tenant Fees Act 2019 in England.
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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