Rental property technology company Property Connect Holdings Ltd (ASX:PCH) has signed up with U.S. property management software provider Entrata, Inc. for the integration of Property Connect’s LiveOffer platform.
PCH is attempting to "disrupt" a cumbersome, tiring and frustrating real estate agency model of attempting to rent a unit or house.
How? The technology is designed to create an easy, fair and transparent system under which potential tenants can make an offer on a rental property.
Even better for renters, it would allow renters to place an offer on a property and see in real-time where they are placed against other applicants.
Entrata is one of the most popular property management systems in the U.S., having processed more than 45 million rental transactions since the company’s launch in 2003.
The new deal should lead to faster adoption of LiveOffer as many of the potential clients are already using systems such as Entrata.
Property Connect is targeting the U.S. multifamily apartment market to help owners maximise revenues by optimising the rental offer process.
The Entrata deal will allow Property Connect to more easily on-board the LiveOffer technology with property management groups using Entrata’s software.
Entrata’s software currently serves more than 20,000 U.S. apartment communities, including 34 of the top 50 National Multifamily Housing Council managers.
Property Connect, formerly Conquest Agri Ltd, relisted on the ASX on 23 March 2016.
The company had a cash balance of $1.984 million as on 31 March 2016.
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