Moore’s Law is a stress tested term that suggests technology will double its self every 2 years.
Don’t you hate when people from a sector use industry talk and expect you to understand? Talking fast pace or in another language are 2 very simple ways to manipulate a sale. Technology however does not have the ability to do such a thing, as its primary purpose is to assist us in day to day navigation of the real world. We all have a cyborg companion in clutch being our smart phones, so powerful yet so destructive based on the individual and their agenda.
Gone are the days we que up in banks, call for taxis, arrange flights through an agent or visit a library to learn something new. Today is all about efficiency, saving time and money. PropTech is here to save the day for property investors right on que, the property market is declining, rents are falling but the bills seem to be flowing like a fine river. Here are 5 reasons why PropTech is rapidly becoming a hot topic and how it’s saving some users tens of thousands per year.
1. Property investors 2nd largest bill is property management
The average landlord pays about 5% in property management fees, with give or take about $800 all up to list and let the property. 5% on $700 per week is $2,500 per year, lets add the $800 once every 3 years on a new tenant into the equation. We now have $25,000 in property management fees along with $2,400 in paperwork fees per decade. That’s an astonishing $27,400 per decade the average landlord pays per property, over the length of the loan it rallies to $82,400.
2. Transparency and efficiency
Tenants are always complaining that they don’t get heard by the landlord, or Landlords are footing a large bill on an agent whom they don’t know the name of. This is quiet alarming when we are talking about the biggest investment one can make, a business owner would have a transparent view and an efficient system on running their business, as should a landlord.
3. One in three Australian landlords are self-managing
Self-managing has rocketed from 1 in 4 Aussies to 1 in 3 Aussies in just 2 years, which is a very rapid movement. If we look at the amount of rental properties in Australia which is about 3.5 million, that’s an increase of 100,000 self-managed properties per year. Now that’s 1.1 million people self-managing and not one of those horror stories the real-estate companies give us has surfaced the media.
4. Maximize revenue
Top line perspective gains are crystal clear, revenue maximization either through price discrimination (charging the same rent without an agent), cheaper rent attracting more potential tenants or simply just a healthier relationship with the tenant leading to greater retention levels.
5. Save money
The bottom-line perspective is also a pro; self-managing allows the landlord to lower marketing costs, save on bills and all the little bills in-between that are never mentioned up-front.
What is it and how do I learn more?
Instarent is the proptech app and it boasts a range of useful perks and features, such as the loaded tenancy agreements which are signed electronically between landlord and tenant then stored on the cloud. We have also added in extra features like maintenance services- from the tenant requesting a job to the tradesman selected, there is complete transparency amongst the users. Landlords will no longer be blind sighted, tenants will be heard, and tradesman won’t waste their time quoting jobs that don’t yield a return.
All data that’s put into the app is stored indefinitely on a fully secure server that meets Australian and global security requirements.
Is it safe?
Instarent is hosted by Amazon, integrated with PayPal for payments and meets global security requirements. Instarent is the safest and simplest form of agent free property management, completely free too!
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