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The Real Estate Institute of Australia (REIA) has announced a multi-year exclusive partnership with the leading proptech app.
The deal, struck between the REIA and Managed App, will see the proptech innovators provide crucial support to major events and initiatives set to assist the industry.
The cloud-based property management platform allows users to effectively and efficiently manage both residential and commercial tenancies and is designed to allow consumers to facilitate direct-to-user payments across their rental roll on one platform, offering an alternative to the payment processing through a trust account.
The platform already has upwards of 58,000 users and is aiming to double this figure in the next 12 months, with Managed App chief executive Nick Bouris expressing the belief that the partnership will allow the proptech to help a much broader national network of real estate practitioners.
From the REIA’s side, president Hayden Groves has shared the institute’s eagerness to work with the innovative property management platform, stating that the partnership “is an exciting new venture for both parties”.
“Managed App is pioneering a digital concept that is shaping the future of the real estate industry.
“Managed App has processed more than $1.4 billion in property management transactions and was listed by the AFR as one of the top six proptech start-ups to watch,” he highlighted.
“The REIA is looking forward to a long and mutually beneficial association with Managed App and welcome the team into our partnership’s portfolio.”
Mr Bouris has also praised the work of the REIA, commenting that the institute “has always been known as a forward-looking organisation”.
“They’re also known for doing their research and guiding the industry towards better future practices,” he said.
“It made a lot of sense to partner with the REIA, given their role as a thought leader and especially after observing the trend of trust accounting theft and fraud accelerate in 2021 and 2022.
“This is a long-term partnership and one we’re really excited about.
“There are still a lot of real estate agencies around the country that aren’t benefiting from direct payments and struggling through the pain and risks of trust accounting.
Mr Bouris concluded: “As the industry leader, Managed App is proud to be able to join the conversation alongside the REIA to provide reassurance to this fantastic group of business owners.”
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