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Uber makes move into the property sector
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Uber has come together with a Build To Rent developer in order to complete a PropTech deal, which sees the transport company giant involved in the property sector for the first time.
Tenants at schemes operated by Build To Rent company Moda Living will receive up to a total of £100 in Uber credits per month. This is only available should tenants agree not to have a car parking space in their building. In return, using a bespoke app, residents will be able to hire an Uber as and when they please.
Rental Rising
Moda Living is presently building 6,000 rental-only homes in major cities across England and Scotland.
In partnership with Uber, Moda Living feels it will be able to create, ‘more sustainable developments as city leaders tackle the challenge of building millions of homes while also reducing emissions.’[1]
The firm proposes to have schemes in London, Edinburgh, Glasgow, Leeds, Liverpool and Birmingham. Their buildings are created purely for rent.
Uber makes move into the property sector
Jo Bertram, regional general manager of Uber in the UK, noted: ‘Cars are one of the most expensive assets most people own, but they’re used just five per cent of the time. Our mission is for everybody to have a reliable ride at the touch of a button so they don’t need their own car. These plans for what will be a unique partnership with Moda Living is a big step forward in making that a reality. By getting more people to ditch their own vehicles we can put some of the space wasted on parking to much better use.’[1]
Johnny Caddick of Moda Living, added: ‘Our apartments are for rent rather than for sale so we need to consider how our customers will live in cities in the future. A partnership with Uber would not only give our customers an affordable ride at the touch of a button – it would also enable us to design better buildings with more space for social interaction.’[1]
[1] https://www.lettingagenttoday.co.uk/breaking-news/2017/5/uber-announces-first-involvement-with-private-rental-sector
