Breaking Property News – 19/12/23
Daily bite-sized proptech and property news in partnership with Proptech-X.
tlyfe offers Rent-Ready applicant tenants to agents for free, so everybody wins
tlyfe is the revolutionary Tenant Lifecycle App designed to redefine the rental experience. At tlyfe, they understand the challenges that both tenants and agents face in the rental market. That’s why they have now introduced industry first feature – Rent Ready. This innovative offering is tailor-made to assist agents by streamlining the tenant selection process.
The core of tlyfe’s Rent-Ready solution revolves around providing agents with fully verified, validated, and comprehensively referenced applicants. This means that agents no longer need to invest extensive time and effort into background checks and reference validation, as Rent-Ready delivers pre-screened, “ready-to-rent” applicants.
tlyfe is an App that tenants download and as Adam Pigott CEO of tlyfe (powered by Openbrix) comments, ‘By offering Rent-Ready applicant tenants to agents for free, so everybody wins. When I last checked tlyfe was the 75th most downloaded App in the UK. Given that there are 2.18m Apps in the UK….we are thrilled to have climbed so high so quickly!’
When asked why the tlyfe App is so popular Adam explained that it adds value to tenants in six ways:
1 Pre-Qualification It give tenants the best chance of securing their rental property by using our Pre-Qualification tool to become a ‘Rent Ready’ tenant. Tenants then share the results with your agent to secure priority viewings!
2 It improves Tenants rent payment credit score By keeping an ongoing digital record of all your rental payments and, provided you pay on time, it helps to build your credit score. Life just got a whole lot easier!
3 Deposit protection with TDS Tenants can view their deposit protection, download their protection certificate and manage the return of their deposit at the end of your tenancy, with the Government backed Tenancy Deposit Scheme.
4 Tenant Insurance Tenants pay asmall price for big protection! And get a good night’s sleep knowing their valuables are covered with Tenant Contents Insurance!
5 Verified digital ID Tenants get to verify their identity digitally in a secure environment without having to leave your home or risk losing ID documents in the post. Quick, safe and simple verification that works!
6 Tenant loan solution For tenants struggling with move-in costs, whether its help with their deposit, a trip to Ikea or buying essential items on move-in day, our competitive solutions will help you get settled in your new home.
RE/MAX European Housing Insights Q3/2023: Housing market adjusts to new realities and opportunities
RE/MAX Europe today releases its Q3 European Housing Insights Report. The report – which leverages RE/MAX Europe data and regional insights – shows that the buyer’s market is continuing to intensify and that property energy efficiency is becoming a top factor in property valuation, alongside location.
Key insights consider pan-European trends as well as more in-depth analysis of Croatia, Czech Republic, Spain, and Turkey. These include:
1) Price Trends: Listing prices in major European cities (Spain, Germany, Portugal, France, Italy) witnessed a 0.9% decline in this quarter, indicating a shift towards price stabilization.
2) Rental Market: EU rental listing prices increased by 0.7%, driven by supply shortages and challenging lending conditions for property purchases, pushing buyers towards renting.
3) Foreign Investment: international buyers continue to significantly impact demand and pricing.
4) Construction Sector: Rising interest rates and high material costs are significantly impacting the industry. Coupled with market volatility, this is deterring investors and hindering project completions in Central Europe. The updated EU Energy Performance of Buildings Directive (EPBD) adds to complexities and has exacerbated difficulties.
5) Energy Efficiency: with the EU setting minimum standards through the EPBD, energy efficiency is becoming a critical factor in property evaluations and mortgage approvals.
6) Advisory Services: real estate professionals provide buyers and sellers guidance on market conditions and connections to experts to assess costs of retrofitting and renovation, to ensure lasting value of property investments.
7) Q3 2023 has seen sellers and buyers continue to adapt to inflation and higher interest rates. The number of transactions is declining as sellers adjust to slower sales and buyers face lengthier financing processes.
European property markets displayed diverse trends, with each uniquely adapting to the changing financial landscape:
1) Subtle Price Adjustments: Portugal, Germany, Italy showed minor listing price fluctuations of +0.1 per cent, -0.2 per cent, and -0.2 per cent respectively compared to Q2 2023.
2) Notable Price Trends: Spain, the Czech Republic, and France experienced listing price declines of -1.9 per cent, -2 per cent and a -3.8 per cent from Q2 2023.
Michael Polzer, CEO at RE/MAX Europe, said: “We’re seeing the market continue to shift from historically low interest rates to a buyer-focused era, with downward pressure on demand and prices. The importance of energy efficiency has come to stay, and is a determining factor in a property’s attractiveness and value alongside location.
It is critical for new builds and is rigorously evaluated in existing properties. At RE/MAX Europe, our foremost commitment is to deliver an exceptional client experience. Staying ahead of these market trends is crucial in our mission to guide our clients and contribute to a vibrant European housing market.”
RE/MAX Europe franchise network is one of the largest in the industry. The brand is represented by over 30,000 real estate professionals across 2,400 offices in 40 countries across the continent. With more than 50 years of experience, RE/MAX has grown into a huge global network. Never one to rest on its past successes, RE/MAX Europe continues to build on its history of innovation to transform the way real estate is bought and sold across the continent.
Data Sources – This edition of the “European Housing Insights” (Quarterly market update Q3 2023) is supported by internal data from RE/MAX Europe as well as external market data from Casafari, a database for real estate market professionals that aggregates and centralises all the information available online.
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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