Developers who want to win in the private rented sector need to embrace the tech revolution. That’s the claim of James Scott, chief operating officer of The Collective.
It’s high time landlords learned from what is around them, to appeal to the growing generation rent audience, says Scott. “Look at other industries, and you’ll see a shift in favour of receiving something as a service rather than owning it: the Boris bike, Netflix…. so why not have your living space as a service – or, as we in the industry call it, rent.”
He also points to developments in the hotel industry, where smartphone apps are now being introduced in place of room keys. At the new Hub by Premier Inn, the group’s compact city centre hotel format, check in is automatic via geotagging, with lights and room temperature controlled by an app. “Gimmicky, one might argue, but it shows an understanding of what their consumer has come to expect.”
PRS provides space, says Scott, and it must deliver more for less, with inclusive services that technology can efficiently manage and share. Property related information to do with deliveries and maintenance, and the settling of bills, should be instantly available, and easy to access. Perhaps, says Scott in the article published in Property Week, new technology will enable space to be used much more efficiently than it is right now.
The Collective is a property development and management company that offers a shared living product designed for young professionals – combining ensuite rooms with shared kitchen and other facilities in their buildings, on leases that are typically 9-12 months long. The company has a portfolio of properties across central London.