PROPTECH-X ‘Proptech & Property News’: Airbnb acquire Scottish proptech Letting Cloud | New survey reveals intention to help family onto the property ladder

Andrew Stanton’s daily proptech & property news in association with Estate Agent Networking

Airbnb acquire Scottish proptech Letting Cloud

Letting Cloud, a Scotland-based proptech, has been acquired by Airbnb for an undisclosed sum. The holiday letting titan is often viewed as the spark that ignited the short term accommodation boom, transforming the global travel marketing since it’s founding in 2008.

According to the Scottish Herland, “Airbnb swooped for Letting Cloud just four years after the Edinburgh firm was established by technology entrepreneur Grant MacCusker in 2019.”

Letting Cloud is ostensibly an advertising platform for agents and landlords, with about 5,000 agents on its books marketing approximately 50,000 properties UK-wide, in three sectors – holiday, short-term and long-term rentals.

The Herald reports that Airbnb has claimed the short-term let licensing scheme, due to be introduced this year, has prompted the acquisition of the Scottish firm.

The new regulations in Scotland is expected to cover properties like B&Bs, guest houses and holiday lets, giving local authorities the power to control licensing for properties such as these so they can keep guests before October 1st.

View the article in full here.

Almost a Third of People (31%) Would Support Family if They Were Mortgage or Rent-Free and Had an Extra £1,000 a Month

PRESS RELEASE: SUPPORTING family (31%) or investing (31%) is what most people would do with the extra cash (£1,000 a month) if they had no mortgage or rent to pay, a survey by Elan Homes has found.

While the majority of people surveyed wanted to share the wealth (if they had an extra £1,000 a month and didn’t have a mortgage/rent to pay) – 31.38% said they’d help family and 8.9% said they’d donate to charity – the cost of living crisis was also evident from the results.

One person said they’d buy more food and switch the heating on when it’s cold, while others (four people) said they’d clear debts including credit cards.

Marie Morris, sales director for Elan Homes in the North, said: “Housing costs are usually the biggest monthly outgoing for most people. Our survey2 found that for 61% of respondents their mortgage or rent was more3 than the other combined monthly bills, with 32% paying significantly more for housing than their other combined monthly bills. We’re currently offering to pay up to £1,000 a month for a year4 towards the mortgage on selected new homes and so also asked what people would do if they had that cash to spare.

“It’s heartening to know that if they had an extra £1,000 a month and didn`t have a mortgage/rent to pay almost a third (31%) of those surveyed would support their family. An equal amount of people (31%) said they would invest the money, which would be a wise move.”

After supporting family or investing, the next popular option was splashing out on holidays, with just over a fifth (21.08%) stating they’d use the cash to go on a luxury holiday/travel. Other answers included buy a new car (14.75%), reduce working hours (14.52%), buy new furniture (14.05%), treat themselves to a new wardrobe (9.13%) and donate to charity (8.90%). Some of the respondents didn’t know what they’d do with an extra £1,000 (7.26%), while others (6.79%) said they wouldn’t do anything particular with the money if they didn’t have to rent or a mortgage to pay.

Tracey Ball, Elan’s Midlands regional sales director, added: “Almost everyone is looking at ways they can reduce the cost of living and household bills and this was reflected in the survey results. Paying off debts, including credit cards, was cited by a number of people (4 people), while one person simply wanted to buy more food and switch the heating on when it’s cold. Others said they’d save the money (2 people), add to their pension (1 person) or pay for dental treatment (2 people). A couple of people (2 people) said they’d carry out repairs or renovations to their homes, but with a move to a new Elan home they wouldn’t have to worry about and they’d still potentially receive up to £12,000 towards their mortgage over the course of the year.”                                   

Developments where the mortgage paid offer is available on selected homes include Balmoral Gardens in Southport, Merseyside; at Birchfield Court, Swinton, Greater Manchester; at three Lancashire locations – Redwood Gardens, between Blackpool and Lytham, Wrea Green Meadows in Wrea Green and Whittingham Fold in Goosnargh; in Staffordshire at Seven Acres, Elford, and Vardons Keep in Tettenhall; Three Js in Abberley, Worcestershire; and Pickards at Larkbear in Barnstaple.

All Elan homes achieve a minimum EPC (energy performance certificate) rating of B, making them eligible for green mortgages, which can offer lower interest rates than a standard mortgage.

Proptech and Property News in association with Estate Agent Networking.

Andrew Stanton is the founder and CEO of Proptech-PR, a consultancy for Founders of Proptechs looking to grow and exit, using his influence from decades of industry experience. Separately he is a consultant to some of the biggest names in global real estate, advising on sales and acquisitions, market positioning, and operations. He is also the founder and editor of Proptech-X Proptech & Property News, where his insights, connections and detailed analysis and commentary on proptech and real estate are second to none.

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