I really like the concept but obviously in the real world being a landlord, property owner, developer comes with its inherent problems.
What will happen if the property you invest in becomes damaged or tenants fail to pay rent etc
Hi @Rob! 
To reduce the risk of bad properties, we will only list new or newly builts on Prootee. We take a small amount from the rent every months that goes into an emergency fund, so that we can pay for the fixing if something goes wrong.
Also, properties have insurance which should cover the big expanses.
If tenants fail to pay the rent, we follow the rules of the government in terms of evicting them.
We notify every investor in the app when something happens, so they can react to it by keeping or selling their shares to the public. The market will react too, resulting in possibly pushing the share price down. This may mean an opportunity for others to buy in, just like on the stock market.
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I’ve got a question, will there be an android application too or just ios?
Yes @Jsembhi, but we’re focusing on the iOS one right now. Once iOS got to a stage that we’re happy with, we’ll start the Android. 
How is everything going with the potential launch ?
Hi @Rishi We’re a bit late, but getting there. In a months we will have a great app that we will beta test with many people. :
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Sounds good. Thanks for the update, much appreciated. I can only imagine the huge effort and expertise required to launch this and it’s a great idea and feels like it will be fantastically inclusive for everyone to participate.
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Thanks @Rishi 
We certainly imagined that building an exchange was easier, but we’re getting there. We must make sure that the trading system operates perfectly and all transactions execute in real time without any problems. This requires a significant amount of testing.
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How is my investment protected? If Proptee failed as a company for instance (I’m sure it won’t - but due diligence and all that!), how secure will my investment be? Will it be tied up in a separate company and will there be appointed administration system in place to deal with invested money/sell off etc?
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Will it be tied up in a separate company and will there be appointed administration system in place to deal with invested money/sell off etc?
Yes, properties are placed in a separate company. We will publish a wind-down plan where we detail and pre-plan each and every step of a bankruptcy event. In our case, most likely that the properties will be sold on market value so that investors get their money back.
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I have a question. Are yous any different from websites such as crowd property? Thanks😊
Proptee aims to provide a stock exchange for properties. We imagine it as a liquid market, where anybody can buy or sell shares instantly. The Robinhood of property investing.
Crowdproperty is a peer-to-peer lending company that offers development loans for new properties. We personally don’t like these companies for 2 reasons:
- Liquidity – You can’t get your money out early or invest it elsewhere.
- Loans – You invest in loans with around 60% LTGDV and not real assets. Which can be quite risky.
With all that said, we think they’re doing an amazing job sourcing great development properties. We would be definitely looking into working with them in the future.
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