Falling housing supply pushes rents up, largest % increase in Perthsays the MRI
PERTH, Australia, November 4, 2021 /PRNewswire/ — Rental management Australia (RMA) has now implemented MRI Software’s AI-led PropTech to digitize many of its property management services and improve efficiency. The largest residential asset manager in Western Australiawith offices also in Victoria and queenslandRMA rolls out IRM Properties Tree and MRI Plus interview to stay ahead of the record demand for rental properties.
Josh Symons, property industry manager for IRM software in Australia.
RMA went live on PropertyTree and Maintenance Plus nationwide from September 1, 2021 with all 80 RMA employees now trained and actively working in the platform to process and manage all financial transactions and invoicing, lease renewals and rent reviews, and connect tenant maintenance requests with contractors premises, among others. The MRI PropTech mobile platform is being introduced to homeowners, owners and contractors in a phase two rollout later this year or early next year.
Transferring several thousand property and tenancy records and associated financial data “safely and smoothly” to the cloud-based IRM platform was a top priority for Chief Financial Officer of RMA, Chris Weise (Photo).
“Over 30% of our tenants are under 30. They grew up with technology, where many landlords are older and less dependent or digitally savvy and prefer to pick up the phone and have a conversation. our best people, and now MRI’s best PropTech, RMA can continue to provide the best residential asset management services in the future through the medium that best suits our clients.
“Having MRI be a global leader in real estate software with all the governance and experience that comes with that gave us 100% confidence in trusting them to handle our data transfer securely from a legacy software provider. It was done seamlessly,” Weise said.
Andrew GrahamCEO of Rental Management Australiasaid, “At RMA, our sole focus is property management for which we have been tasked with over $4 billion value of residential assets. The decision to integrate MRI’s world-class real estate technology aligns with our intention to make people-centric real estate management our top priority. MRI solutions are extremely user-friendly and we wanted an advanced experience,” he said.
This goal was achieved: over 80 RMA employees were up and running on MRI Property Tree and MRI Maintenance Plus in just over a month, from decision time to active use of the platform. The software gives RMA property managers more time to focus on the human interactions that make a meaningful difference for landlords, tenants and contractors during these unprecedented times.
The stress of the record rise of 18.4% in Perth weekly rent since pre-COVID
Proprietary MRI software rental transaction data indicates Perth experienced the largest percentage increase in median weekly house and apartment rental prices of any urban residential area in Australia since before COVID hit – meaning the demand pressure on all property types is particularly high for Perthbased property managers, like RMA.
MRI Property Tree™ tracks real-time transactions made by most real estate agencies across Australia, now including RMA. National rental property data from MRI shows a distinct two-tier market trend has emerged thanks to COVID since January 2020 so far, where demand for houses has increased, as well as rental prices, while demand and prices for apartments have fallen almost to the same degree, causing a zero net effect for most states and territories.
This trend is significantly different in Perthaccording to Josh Symonsdirector of the residential real estate industry for the IRM software in Australiawhere MRI data shows house and apartment rent prices rose a record 18.4% (houses up 17 percentage points and apartments up 14%) from a median $380 per week in January 2020 at $450 per week by the end of September 2021.
“The human experience behind these numbers is that landlords and landlords are more anxious, and financially and emotionally stressed tenants expect superior property management service and facilities for the abnormally high rental prices that “they pay. RMA came to us for PropTech solutions to help measurably improve that reality for their staff and customers,” Symons said.
About the MRI software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI’s comprehensive, flexible, open and connected platform enables owners, operators and occupiers of commercial and residential real estate organizations to innovate in rapidly changing markets. MRI has been a pioneer in the PropTech industry for over five decades, serving over two million users worldwide. Through industry-leading solutions and a rich ecosystem of partners, MRI gives real estate companies the freedom to elevate their business and gain a competitive advantage. MRI has become one of the first real estate software providers to serve Australia and New Zealand in 1995 and further strengthened its commitment to the region with the acquisitions of Rockend, WhosOnLocation and Palace. For more information, visit mrisoftware.com/au
For more information, to arrange an interview or any high resolution photography, please contact:
heather jones | Director of Public Relations for IRM Software (Australia & New Zealand) | 0400 394 669 | email@example.com
Rental Management Australia (RMA) is taking artificial intelligence in rental property management seriously, pictured Andrew Graham, CEO (L) and Chris Wiese, Chief Financial Officer (R) at RMA which has offices in WA, QLD and Vic.
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Photo – https://mma.prnasia.com/media2/1678552/RMA_Andrew_Graham___Chris_Wiese_Photo.jpg?p=medium600
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