AssetOwl continues Australia-wide rollout of Pirsee platform
The September quarter brought with it a 35% increase in paying customers for AssetOwl.
AssetOwl’s (ASX: AO1) financial quarter ended 30 September 2022 was highlighted by the continued rollout of its Pirsee platform, as the company also looked for new ways to further accelerate growth.
The company finalised the build on its Queensland version of Pirsee, which has opened up Australia’s third-largest rental market to the company, comprising of around 562,000 addressable private rental households.
A further six real estate agencies were also converted to fee paying status, bringing the total as at the end of the quarter to 23 agencies – an increase of 35% in paying customers.
AssetOwl now has 39 WA agencies signed onto the platform, collectively representing around 15,600 properties under management.
The company continues to eye off agencies in both regional and metropolitan areas of WA, including Port Hedland, Broome, Albany and Bunbury.
About 150,000 rental properties are professionally managed in WA, meaning that AssetOwl has roughly a 10% penetration of the WA professionally managed rental market through its Pirsee platform.
Appointment of Diego Tognola
In the September quarter, AssetOwl announced the appointment of highly experienced head of engineering, Diego Tognola, to take charge of the company’s development team.
The company saw this move as vital with its growing customer base and the need to leverage its technology into new markets.
With over 20 years engineering experience, working for different organisations, Mr Tognola was seen as the right fit to help lead the company’s development team.
Mr Tognola will be in charge of making sure AssetOwl’s products and solutions are suitable for the market, as well as overlooking all technical aspects of Pirsee, from its development through to the technologies used in supplying the platform.
Product development
The company continued building and testing its Pirsee platform for Queensland in October, with the final release to market taking place 27 October.
AssetOwl also completed final designs for the New South Wales version of Pirsee, which will be released in December 2022.
The company’s September quarter was also highlighted by the release of Pirsee’s new ‘property’ and ‘admin’ consoles.
These features allow heads of department to have complete control over the administrative rights of their team, while also improving the ease with which allocated properties can be managed by each individual.
In the December quarter, AssetOwl’s aims to win new product trials in Victoria, and continue rolling-out the Queensland version of Pirsee.
AssetOwl’s is targeting the release of its NSW version of Pirsee in the second half of the quarter, and plans to commence work on a new version of exit inspections.
As AssetOwl continues to organically grow its footprint, it will also explore opportunities to accelerate its growth through potential acquisitions within the property industry.