The property sector lacks innovation and entrepreneurialism - for instance, I still get asked what my fax number is. The private rented sector (PRS), although clearly showing huge potential, has yet to be fully defined. This presents a ripe opportunity for the introduction of tech and innovation. The sector is catering largely to a generation of 'tech junkies', so, frankly, PRS operators have no choice but to embrace the 'tech revolution', Where tech really has the opportunity to disrupt is in the user experience. Renting in London has always had a 'rogue landlord' stigma. Yet 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. Renting gives consumers flexibility, reduces upfront costs, and forces developers to offer a lot more for a lot less, helped in part by the growth of a shared economy. Only by delivering a great user experience will people choose renting as a lifestyle.
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