Looking to buy properties off exiting landlords? New platform launches
A new property platform aims to help private landlords target buy-to-lets and find potential HMOs.
Propalt contains details of more than 250,000 landlords so that investors can connect directly, as well as the details of two million properties.
Available information includes the full address of every property they own, rental history detailing which agents are involved and likely letting renewal dates.
Co-founder Kieran Slinger (pictured) explains that using its live market mapping tool, landlords can search for properties in a certain city being sold by a landlord, discover which of them have a good EPC rating, find HMOs in areas without an Article 4 direction, and look for potential HMOs.
“It drastically reduces the amount of time spent finding this data through the current sales and planning portals,” he tells LandlordZONE. The platform can then automatically target those landlords and send them a letter with a purchase proposal.
Letting agents can use Propalt to build up a picture of which landlords use other agents in their area and then connect with them directly through LinkedIn. They can also get details about planning permission, flood plains and other risk factors in one place.
Slinger explains that there are no GDPR issues involved as the data it uses is already in the public domain. While the DLHUC plans to list rental properties, average rentals, rental yields and other useful information for renters on its upcoming property portal, Propalt stresses that it is a different proposition as it helps property professionals connect with landlords, suggests opportunities, and offers a portfolio analysis.
“Using Auto Trader you get details not only of the car, but its history and the previous owner – we aim to offer that level of detail,” he adds.
Propalt is keen to attract smaller landlords as well as portfolio investors, with monthly subscriptions starting at £95.
