GetGround has announced the launch of GetProperty, a property investment service created to support and guide landlords through the process of buying investment property.
GetProperty’s personalized buying service is designed and managed by GetGround’s property investment process specialists to simplify and accelerate the multifaceted process of acquiring new investment properties.
Since launching in early 2020, GetGround has established an active partnership network of 1,300 businesses that service all stages and corners of the UK property investment sector. Leveraging this network, the GetProperty team is able to select and put forward to individual GetProperty customers the industry partners it considers best suited to each customer’s individual needs – throughout the buying process.
Taking into account an individual customer’s investment experience, their preferred property location, valuation bracket and target tenant demographic, GetProperty first sources and filters “high-performing” investment opportunities for a customer’s consideration. Having helped a customer secure a property to purchase, the team then accesses and convenes the right service providers – from conveyancers and brokers to letting managers and furniture suppliers – in the right location or price bracket to make the process run smoothly.
GetProperty then oversees and guides the remainder of the process, ensuring all parties can communicate openly, can access all required information and maintain high levels of transparency to reach completion quickly and reduce the risk of a delay or collapse.
In a survey of several hundred property buyers conducted on behalf of GetGround in August 2022, 77% of landlords said that the process of buying a property decreases their appetite to buy. Four in five of them (78%) reported that at least one of their buy-to-let transactions has fallen through and almost all landlords surveyed (95%) said the cost of buying investment property has increased in the last 12 months.
For 88% of landlords surveyed, reducing the time taken to complete a purchase is key to improving the buying process. 71% called for better ways to source good property and the same proportion (71%) believed lowering transaction costs can make the process better.
The firms claims that user data collected during pre-launch testing shows that a landlord using GetProperty can halve the time taken to reach completion and reduce the costs incurred by as much as 60%. Anecdotally, early customers report feeling less hassled and stressed too, it added.
Moubin Faizullah Khan (pictured), CEO of GetGround, said: “Buying investment property is a convoluted process made up of disconnected parts. It costs too much, takes too much time and comes with too high a risk of failure. It’s a failed system that’s hurting not just landlords and investors but the millions of people who rely on our private rented sector to be healthy, buoyant and active.
“GetProperty solves this. Whether a customer requires the education and confidence to invest, or signs up for our market-first packages of lending, conveyancing, incorporation and property management services, we’ll be there to make the experience better.
“In the last two years we’ve established a strong, loyal and expansive partnership network spanning more than 1,300 partners across the whole of the property investment market. GetProperty is a natural next step in GetGround’s development. With GetProperty we’re leveraging this network to offer the sort of one-stop-shop purchase experience landlords want but can’t find, in a way that generates leads for our partners and reduces time and expense for our customers.”