REAL PROPERTY SYSTEMS

The global property management market size was valued at USD$16.47 billion in 2021 and projected to reach USD$39.51 billion in 2021, registering a CAGR of 10.21% from 2022 to 2030. SaaS (software as a service) and cloud computing integrated services have taken over as the preferred means of providing services. Subscription-based SaaS solutions have advantages for businesses of all sizes.

With more demand for rental properties than ever before in Australia, 2021’s rental housing market witnessed an annual price growth of 7.4 per cent, the biggest yearly increase since 2009, with property managers and companies cashing in on the boom. Unfortunately there has also been a decline in the actual management practices, impacting on tenants nationally.

Problems

Real Property Systems addresses many issues within the industry which have created an unbalanced environment, leaning less towards tenants by property managers, devaluing property owner reputations and potentially their greatest assets. When developing and designing our unique ecosystem we focused on many pinch points including:

• lack of transparency between property owner and property manager;
• lack of trust between property manager and tenant;
• substandard repairs and maintenance;
• limited regard of tenants by property managers;
• questionable screening of trades contracted to complete repairs and maintenance;

Background

Complaints by tenants about property managers are on the increase with many property owners oblivious to the stressors impacting on tenants rights. In general property managers see their client only as the property owner as they pay their fees and disbursements. The property owner has in most cases no contact with the tenant throughout the whole lease term, believing that the tenant is happy and that all duties as the property manager are being diligently completed and in a timely fashion.

Unfortunately poor property management practices impact physically and mentally on tenants, devalues the reputation of the property owners, and potentially their biggest asset. Using blockchain and distributed ledger, Real Property Systems will provide all stakeholders with a transparent platform based on trust, transparency and immutable records should a dispute arise, assisting in faster conflict resolutions.

As much as property management is a middle-man of sorts in the property owner and tenant relationship, they a very integral part of the ecosystem. The CBS platform and ecosystem benefits property managers with a suite of tools, services which streamlines their relationships between property owners and tenants. CBS reduce costs, time and administration nightmares for property managers whilst building trust and transparency on their behalf.