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| Photo by Niklas Liniger/Unsplash |
Venture capital is attracted to proptech like never before, providing the real estate sector with a seemingly endless stream of innovative tech solutions to increase the efficiency of everything from collecting rent payments to constructing mega projects.
And with all that tech prowess now in common hands, new startups as well as resident groups are now developing their own tools to fight back, particularly against erring developers, projects and landlords.
Proptech innovation efforts include improving transparency about projects left to languish, tagging developers with poor delivery history and uncovering landlords leading unjust pushes for evictions.
Heck, in Baltimore city, scannable QR codes are being added to 17,000 vacant properties, providing free and instant information on the property owner and what’s happening with the project.
Heck, in Baltimore city, scannable QR codes are being added to 17,000 vacant properties, providing free and instant information on the property owner and what’s happening with the project.
How?
We found that typically, this new line of proptech uses volunteers across a city who go about taking property pictures and adding notes on the state of the property, brief history, and the owner/developer information.
This Helps;
Renters and home buyers who are often in the dark about the bad side of such real estate and their owners/developers. Publicly sourced credible information is the only way to ensure peace of mind during a home buying decision today.
Municipal bodies, who are accessing property and owner data to evaluate tax defaults on properties across their jurisdiction. How predictable is that? 🤷♀️
This Doesn't Help;
When the information amassed does not reach the people it is essentially intended for.
When landlords and developers, using the same information can easily identify distressed properties to do what they sometimes do best - make housing a little more unaffordable.
Tags:
PropTech