Despite a seeming resistance to technology within the property sector, the broadly-defined concept of proptech has been coming on in leaps and bounds in recent years. Innovators are implementing ways to shake up the industry and make it more in-line with 21st century technological practices.
For landlords and property investors, proptech provides many opportunities to streamline some of the tasks and responsibilities involved in letting out property.
Here are four proptech trends landlords and buy-to-let investors should be looking out for.
1- Artificial Intelligence
Would you trust AI to manage your property portfolio and rental responsibilities? Landlords and property management agencies could potentially save themselves a lot of time and bother by getting machines and automated software to manage certain tasks and duties for them.
2- 3D printed properties
Would you live in a 3D printed house? Would you invest in a 3D printed house? This 3D printed property in Russia, in which the walls of the building were printed in just 24 hours, offers a look into what construction in the future might look like and what the savviest of landlords might be investing in.
According to Apis Cotr, the 3D printing specialists who constructed the house, the property can last for up to 175 years and cost a mere $10,134 to build.
3- More seamless tenant viewings
The days of being weighed down by the time-consuming task of arranging to meet with a prospective tenant and show them round a property could be numbered. With the arrival and likely growth of VR headsets, potential tenants will be able to view a property at their own leisure.
4- Autonomous vehicles
Autonomous cars, also referred to as driverless cars, are vehicles that are capable of driving and navigating independently of a driver through sensing its environment. Such driverless cars could have a potential impact on the property industry as, by transforming the way we travel, the attractiveness of buy-to-let properties being within easy access of public transport may no longer apply.