PROPTECH-X ‘Proptech & Property News’: TDS invests in OpenBrix | London home to 24% of nation’s HMOs

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

TDS backs OpenBrix with strategic partnership and investment

TDS, The Dispute Service, has made an investment in OpenBrix, agreeing a licensing deal for the blockchain-based property portal’s new venture, tlyfe, an app which will launch throughout the UK this year.

Not only has the deposit behemoth invested in the venture, but it has also signed a strategic partnership with the property portal to distribute the tlyfe app to tenants using TDS.

Leading up to the launch, the two companies have worked closely to develop the features set for inclusion in the app.

Adam Pigott, CEO at OpenBrix:

“This is an exciting day for OpenBrix. Our team has worked tirelessly to develop the technology needed to better serve the property sector. We can’t wait to share it with tenants across the UK.

“Having a distribution deal and strategic partnership with TDS will bring tlyfe to potentially millions of tenants. With their expertise in the PRS, and our industry leading technology, we believe we can connect all elements of the property market.”

Steve Harriott, Group CEO at TDS:

“We’re thrilled to be partnering with OpenBrix to help develop tlyfe, an exciting new tenant app to help tenants manage their deposit and their renting experience. The investments we make are all about driving innovation, and ultimately making life easier for our customers.

“We’re really looking forward to working with the team at OpenBrix to put tenants across the UK in control of all their property needs using tlyfe.” 

London is home to 24% of the nation’s HMOs, says new research

According to recent market analysis by Revolution Brokers, almost a quarter of all HMOs in England (24%) are located in London, but it’s in the South East and East Midlands where most of the opportunities lie.

Revolution Brokers looked at the distribution of HMO levels across England, casting a light on the availability of HMO investment opportunities by region.

They say that almost 56,000 HMOs are registered in England. 13,528 are within the capital city.

The East Midlands is host to 10,737 HMOs, accounting for 19% of the national total.

The South West follows with 16% of the national share, with the South East (12%) and the West Midlands (10%) trailing behind.

The North East only accounts for 1% of the country’s HMO stock.

Almas Uddin, founding director of Revolution Brokers, said: “When it comes to the HMO capital of the nation, London continues to dominate the market and it’s easy to see why.”

“As the nation’s capital, there is also a revolving door of tenants, both domestic and international, moving to London to live and work. As a result, void periods are also far lower which again helps to maximise returns.”

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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