Property management is still running old legacy models. It has not undergone any major changes - if not, any at all in decades. Yabonza was born in 2016 out of Trowell's personal experience with inadequate property management.
"I had a property over in the UK, and the manager was telling me that there were a few issues with my tenant,” says Trowell. “He claimed they were sorting it out, but with a bit of sleuthing on my part, I realised the tenants were about to do a runner – which is exactly what happened!” - Mark Trowell, CEO
"I had a property over in the UK and the manager was telling me that there were a few issues with my tenant. He claimed they were sorting it out, but with a bit of sleuthing on my part, I realised the tenants were about to do a runner – which is exactly what happened!"
From this bad experience, Trowell realised there had to be a better way to address his and others’ concerns as property owners. “Yabonza was born out of a desire for greater transparency and communication,” says Trowell. “Given the easy access we have to technology these days, there was no reason property managers needed to be operating in such a fragmented legacy model.”
Changing Times, Changing Roles
One key goal with Yabonza was to change the perception of what a property manager is and flip it on its head.
Property managers should be undertaking a more holistic role – looking for ways to actively improve their client’s assets. This should include providing suggestions for proactive repairs and replacements, offsetting depreciation and ultimately maximising outcomes for the owner and tenant alike.
“But this is hard to do if you’re spending the day on the road, doing repairs that are better left to specialists,” says Trowell.
Yabonza’s online platform allows both tenants and owners to make contact more easily via the platform. Repairs and maintenance are able to be carried out more rapidly through outsourcing to trusted providers, while owners are provided with a comprehensive overview of the status of their property portfolios.
“We’ve already seen similar platform-based approaches in other industries, particularly in transport,” says Trowell.
“But this is the first of its kind in the real estate industry.”
What software do property managers use?
Yabonza's platform represents a significant shift forward for the field of property management, allowing investors to have one point of contact across their portfolio no matter where it is in Australia through its asset managers. What this does is drives significant cost savings - Yabonza charges a flat fee of just 3.9% to property managers – around half the industry standard.
“It allows for better monitoring of individual items such as appliances or smoke alarms, rather than simply being reliant on periodic checks.”
However, Trowell is ambitious to see even further change into the future. “The Internet of Things presents a lot of great possibilities,” says Trowell.
Ultimately, Trowell contends, it’s an industry that should be moving at the same rate as technology – and he plans to be at the forefront.
"It allows for better monitoring of individual items such as appliances or smoke alarms, rather than simply being reliant on periodic checks.”
Why is Yabonza different to other property management apps?
- Asset managers: Our asset managers look at the ROI of the property. You have one dedicated point of contact across your portfolio, Australia-wide. No more managing multiple property managers and all that paperwork!
- Operations team: The operations team looks after daily management tasks. yabonza also provides same-day rental payments for landlords – all for the low flat fee of 3.9%.
- The yabonza platform: The Owner and Tenant platform takes care of the administration, accounting and communication tasks. You can also view the status of your portfolio at a glance.
- Local experts and partners: Our local experts and partners are our eyes and ears on the ground. They are specialists in their field.