Property management software developer AssetOwl (ASX: AO1) has entered into new customer agreements with four Perth-based real estate agencies to undertake trials of its Inspector360 platform prior to entering into licence deals.
The four independent agencies collectively manage about 1,500 properties in the Perth metropolitan area, including one agency managing 700 properties in the capital’s northern suburbs.
In an announcement today, AssetOwl said the agencies have agreed licence terms for Inspector360 subject to the successful completion of a four-week trial.
Launched last September, the Inspector360 platform incorporates 360-degreee imagery, video capability, voice-to-text and hot-spot mapping of floor plans to accurately document property condition reports.
Today’s news follows the company’s successful entitlement offer in May, which raised $1.5 million to rollout the new platform as well as provide working capital for AssetOwl to grow its customer base.
Remote inspection add-on
AssetOwl also today announced it has achieved the first use of its remote inspection add-on to the Inspector360 platform, with the functionality delivered to its cornerstone customer, RE/MAX Exchange.
This add-on function provides video conferencing within the Inspector360 app, enabling a property manager to talk to the tenant while conducting a property inspection without the need for face-to-face interaction.
AssetOwl claims its platform is the only product available that permits a remote inspection in accordance with industry and regulatory requirements in Australia.
RE/MAX senior property manager Sonya van Vuuren provided positive feedback on the software user experience.
“I have trialled the new Inspector360 remote inspection tool whilst making my past 11 property inspections during COVID-19 restrictions and the product has worked extremely well,” she said.
“We will now continue to use it wherever possible as it eliminates travel, has been well accepted by most tenants and provides me with more flexibility in my time,” Ms van Vuuren added.
Virtual showcase and promotional partnership
AssetOwl said it has continued to develop and refine Inspector360 since last month’s $1.5 million capital raising and will be showcasing the platform at the MRI Ascend virtual conference on 22 July.
According to AssetOwl, this virtual event is expected to be “well-attended” by property managers across Australia and New Zealand.
MRI Software is the parent company of real estate management software provider Rockend Technology.
In March, AssetOwl secured a five-year strategic partnership with Property Tree, Rockend’s cloud-based property management platform, which is intended to provide the company with promotional opportunities through Property Tree’s large network of real estate agency customers in Australia and New Zealand.