REA Group has taken a stake in a SaaS platform that is transforming the role of the property manager in Australian real estate.
Managed App connects tenants, landlords, property managers and tradespeople via one platform accessible on desktop, mobile and tablet, harnessing the latest payments technology.
Launched a little more than a year ago, Managed App has already gained significant traction with 105 agencies — made up of major agencies, franchise groups and smaller networks — now operating on the platform.
According to Managed App director Nick Bouris, investment from REA will play a major role in driving growth as the business expands its operations and delivers new features to its partners.
“We’re focused on supporting this invaluable sector of the Australian economy with the tools and capabilities of Managed App, and we’re committed to beefing up our platform to drive the growth of the nation’s real estate agencies and property managers,” Mr Bouris said.
Managed App’s commitment to supporting the property management sector will be fuelled further by the recent investment by REA Group into the platform.
Andrew Rechtman, chief customer product officer, said the move reinforces the business’s commitment to its property management customers.
“By working with new software providers, such as Managed App, we will increase operating efficiencies for property managers, helping streamline the number of systems required to complete their work,” he said.
Tenants use the Managed App platform to pay rent and also lodge requests for maintenance and repairs with the knowledge that the landlord and property manager are immediately notified.
The automated payment system also ensures that tradespeople are paid immediately, increasing competition for maintenance and repairs work for tenanted property. Approaching 5,000 tradespeople are now part of Managed App.
Landlords also have full visibility of how their real estate assets are being managed, with all critical information curated in one simple-to-access user interface.
Since the launch of Managed App, over $60 million in volume has flowed via the platform, representing over 51,000 individual transactions.
Mr Bouris said the REA Group investment affirmed the strength of the platform and will support the long-term expansion of Managed App.
“REA Group is a complementing business and we’re excited about working with an organisation that shares our common objectives of increasing efficiencies for property managers and streamlining systems to underpin their business growth,” he said.