Ownership Alerts let you know when the ownership of a specific site changes. And, importantly, it lets you know who both the old owner and the new owner are, giving you valuable intel.
This can be useful for a whole host of reasons – knowing when a deal has opened up (or fallen through), seeing sites changing from public to private ownership (or vice versa), keeping an eye on when/where competitors buy and sell etc.
How Ownership Alerts work
Each month, you'll automatically receive an Ownership Alerts email, detailing any ownership changes for the sites you’ve saved.
Beyond using your Sites Pipeline, there’s nothing else you need to do. (If you’re not sure on using the Sites Pipeline, check out this article here).
If you don’t receive an email, that just means none of the sites have changed ownership in that month’s Land Registry data (more on that in a second). But our experience shows that, on average, for every 100 sites you’ve got saved you tend to get one alert per month.
Turning Ownership Alerts on/off
By default, Ownership Alerts will be on for all LandInsight Unlimited users. That means you’ll automatically get the email once a month, without needing to do anything.
If you want to toggle it on/off, you can do so easily from your account by:
Click ‘Dashboard’ in the top left
Clicking ‘Ownership Alerts’
Clicking on the toggle
Easy as that.
Ownership Alerts – nuts and bolts
1. It’s the Land Registry’s data, not ours
We generate Ownership Alerts based on ownership data passed to us by the Land Registry.
While we share the data they send us with you, we aren’t in control of the data itself, so we can’t guarantee the accuracy. For instance, it sometimes take a while for them to update, so you might know something they haven’t passed on yet.
That said, it takes them an average of just 36 days to update a site. Sure, there’s room to improve, but considering our research most people assumed it was over three months, it’s actually pretty good.
2. There’s no fixed date that it’s released
The Land Registry usually release new data monthly.
Typically this is at the start of the month, but it’s not on a fixed date (to allow for weekends, bank holidays etc.).
3. Transactions need to include a public entity to be included
To be included by the Land Registry, the transaction needs to include a public party – either as the buyer or seller.
Private Citizen A selling to Private Citizen B will therefore not trigger an alert.
So it’s a useful complement to your existing processes – it’s not going to replace them wholesale.
4. Alerts are about titles, not ‘sites’
A ‘site’ in LandInsight can be made up of multiple titles, or there can be multiple leaseholders within a single site.
These Ownership Alerts are for those individual titles, rather than the site as a whole. That means you’ll get an update on any change within it, so you can keep an eye on all the moving parts.
Note: We automatically exclude any site that is larger than 100 hectares (around 250 acres) so that we don't inundate your inbox with alerts.
5. And you won’t be inundated with short-term changes
Good news – an alert only triggers if it’s a freehold change, or a lease that’s longer than seven years. That means your inbox won’t be clogged up by alerts every time a new tenant moves on on a 12-month contract for instance.
Want to know more about making the most of Ownership Alerts? Here are our ten tips to get your Sites Pipeline in tip-top condition.