The BPAY Group has launched an online payments platform for independent landlords, with additional features to come.
The platform named Lodge aims to give private landlords the tools and insights to make managing their property easy and empower them to unlock the potential of their biggest asset.
The product was launched this week and is initially targeting self-managed landlords as its primary market.
CEO of Lodge Justin Jefferies said that property management in Australia was a big opportunity, but there were big pain points for many self-managed landlords.
“The biggest frictions we hear of is things to do around maintenance, collecting rent and dealing with tenants, so all of the communication etc. Lodge does these three things now and aims to do more soon,” Mr Jefferies said.
The other two pain points identified by Lodge were finding tenants and dealing with documents, according to the CEO.
“In the next month, maintenance and vetting features will be added. Even more features will be rolled out in the months after, including a tenant portal, financial insights, to name a few,” the CEO said.
Mr Jefferies said that some of the features already on Lodge include auto-rent collection, recording expenses, storing documents and generating tax reports.
“Lodge is the home for all property-related needs. By seamlessly connecting the fragmented processes involved in managing investment properties, Lodge simplifies property management for landlords,” the CEO said.
Lodge was entirely purpose-built, said Mr Jefferies, and the company wanted to create a tool that was there for landlords.
“We think that because of the transparency, we can provide the best ability for self-managing landlords to make good decisions. Our tool is purpose-built; everything we build is to manage properties,” the CEO said.