New proptech to disrupt property management, Rent360 has launched
A new “proptech” business set to disrupt the property management industry, Rent360, has launched.
Rent360 said it would be Australia’s first online marketplace for property investors to access and hire independent property managers.
Former McGrath, Ray White, and LJ Hooker’s Penelope Valentine along with Jared Keen, the founder of Europe’s largest FMCG digital coupon company, Couponstar, co-founded the new outfit.
“We provide investment property owners with the option to skip traditional real estate agencies and access a network of top independent property managers across Australia,” Mr Keen said.
“Rent360’s recommendation engine matches property investors with up to three of the best suited property managers servicing the local area to compare fees, experience, qualifications and client reviews.
“The property manager appointed by the investor on the platform is the same one responsible for leasing and managing every aspect of the investment property.”
Passing on savings
The maximum management fee for Sydney-based investment properties is 4.95 per cent inclusive of GST lower than the average fee of 6.6 per cent in the city, Mr Keen said.
“Our property managers are mobile and have considerably lower overheads than traditional real estate agencies so they are able to pass on these savings to investors,” he added.
Once the management agreement is signed electronically on the platform, the property investor has access to an Owner Portal that provides visibility into their property’s performance including tenant information, rent collection, maintenance update and rental appraisals.
Rent360’s board includes ex-CEO of property management software company Rockend, John Goddard, former onthehouse.com.au director Ian Campbell, Neil Smoli, managing director of Aviate Group and Paul Migliorini of Amazon Web Services Australia and New Zealand.
Rent360 plans to expand nationally.
AFR | Source: