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The Cohabit platform from proptech innovator and co-founder Thom Richards is set to digitise and improve access to building data in the strata and body corporate space.
The new platform aims to deliver streamlined data for strata buildings that will help to “alleviate the pain points” which owners, body corporates, strata managers and property purchases can experience.
Cohabit leverages AI technology to generate a Health Score and series of digital profiles for strata buildings that draw on criteria ranging from “financial, liveability and compliance metrics through the environment and sustainability factors”.
By incorporating digital processes for managing building data, strata searches/OC reports, compliance, payments and building rents, Cohabit aims to offer solutions for core property buying and management challenges in the real estate sector.
“Access to this unique data gives owners and buyers absolute clarity on how a building is performing, what areas can be improved, and gives them data-based recommendations on how to remove risk, drive asset value and boost liveability for all residents,” Richards said.
Richards has an extensive track record across real estate, project management and product design, and brings to this venture insights as the co-founder of direct and automated rental payments platform, Managed, which since its inception in 2018 has processed billions of dollars on behalf of agencies and landlords nationwide.
Cohabit is also driven by a dynamic and accomplished team comprising business leaders, such as Hong Kong-based fund manager Daniel Barrins, as well as Michael Cindric, the founder of software developer Sentia Australia, with support also provided by a series of prominent investors across the corporate, legal, product, distribution and AI sectors.
Although Cohabit was initially designed with Australia’s strata market in mind, Richards said that “we don’t see it limited to just Australian buildings”, and emphasised that the platform’s “ultimate potential is virtually unlimited”.
In order to realise these ambitions, Richards shared that the company has begun to explore “common interest developments in the US and are looking at other markets that will recognise the value of the platform just like the 3,000+ buildings we have in Australia already do”.
“Anywhere that there is a centralised asset and a group of owners with a vested interest in its performance, Cohabit can play a part in the data, resources and services to drive asset values and positive resident experiences,” Richards said.
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