UK-based proptech start-up Home Made is set to enter the Irish market, targeting the build-to-rent sector.
The company will begin offering its letting services in Dublin, focusing initially on tech professionals in Dublin’s Silicon Docks, with the first sites going live by the end of the second quarter of the year.
The start-up, which has been in business in the UK for five years, is working to replace the traditional letting agency with a digital-first platform that will make the process more efficient for both tenants and landlords.
Home Made focuses on build-to-rent developments, using proprietary technology and data analytics to get developments to stable occupancy – over 95 per cent.
For tenants it offers late viewings, around-the-clock support, and access to online services for submitting important documents such as references.
Founder Asaf Navot said the expansion to Ireland was the natural progression for the company.
“It’s an obvious next market for us. First, there is the distance and the language. Second, the tech community is more open-minded to what we bring, which is a digital customer or renter journey. We also have very large clients that operate in the market, and they are the ones who have asked us to go and serve them in other markets.”
Although some functions will be carried out from the UK, Home Made plans to have a local presence as it builds its business, starting with a couple of positions here.
The increase in build-to-rent properties in Ireland was also a factor in attracting the company here despite ongoing controversy about the impact on the housing crisis.
“I think build-to-rent to some extent is the solution not the problem,” Mr Navot said. “To address the housing crisis you need to build a lot, but you also have to let it efficiently. By offering a solution like ours that allows efficient and effective lettings, it means the vacant units will be tenanted, and supply and demand will be more balanced.”
Home Made offers bespoke data analysis tools for its build-to-rent investors, providing market-wide analysis.
“It doesn’t have to be a zero sum game – there are many times where you can have an offer that is beneficial for both sides,” he said.
In the UK the company works with large build-to-rent companies such as Greystar, Grainger, Get Living, Moda Living, M&G and Quintain. It is currently engaging around 250,000 tenants, works with more than 5,000 private landlords, and markets more than 60,000 build-to-rent properties across the UK.
