Technology continues to shake up the property world, and for the better, in many cases. It enables landlords to contact potential tenants anywhere in the world. It has also freed up a lot of the administrative work, so landlords and agents can spend more time dealing with tenants or marketing their properties. Now there is a new property portal set to be launched which will mean anybody with a camera can list properties.
My Backyard founder, Clive Cain, said an investor has pledged to help fund, market and develop his idea to the tune of £130,000, which is just 15% short of his £150,000 fundraising target. It just needs another co-investor to join up. Once that happens, the property portal could be launched towards the end of summer.
Mr Cain is about to start an advertising campaign to encourage property sellers, landlords and agents to sign up for the service for free, as early adopters. The founder will be concentrating on building up a base of consumers from people who are looking to relocate for work from abroad or those moving within the UK who are looking for a property to rent. He said that My Backyard will have instant messaging so it is easier and quicker for prospective tenants and landlords to connect. He said it will be a niche market to begin with, because they are concentrating on early adopters. The market will be professional millennials who need to relocate for work. My Backyard claims to put the customer at the centre of any property search, offering listings with real-time connectivity.
It will benefit recruitment agencies and firms hiring professionals from overseas too. Once they have made an offer, they will not have to make lots of phone calls to sort out the accommodation. They can use the platform to click, follow and connect, which makes this aspect of their job faster and simpler. Anyone will be able to list their properties on the platform, including private sellers, DIY landlords and professionals. Landlords and agents will be able to upload their properties to the platform and market it to a much wider audience. The properties can also be shared on social media such as Facebook, YouTube, Instagram or Snapchat by uploading photos or videos from your phone or tablet. The instant messaging means a potential tenant in Australia can see the listing at the same time as someone living in the same district as the property. This means there could be many more potential tenants bidding for the same property, which gives the landlord more choice.
Another advantage could be with the forthcoming ban on tenants’ fees, which could mean that more landlords start to manage their properties themselves rather than through an agent. Using a portal like My Backyard means they can find tenants more easily and market their properties simply, effectively and globally. It could be a useful addition to the online property portal sector, particularly by offering real-time connectivity to allow landlords to connect with overseas buyers more easily.
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