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- AssetOwl (AO1) signs its first Victorian customer, heralding the company’s east coast expansion
- The enterprise property management platform provider has secured an agreement with a Victorian agency for its Pirsee property inspection platform
- Initial trials of the product are expected to take longer to complete than normal, due to the current COVID situation in the state
- AO1 says its remote capability has received more attention due to COVID restrictions, but it expects longer term wins due to its full suite of offerings
- Shares closed flat at 0.6 cents each on September 7
AssetOwl (AO1) has signed its first Victorian customer, heralding the company’s east coast expansion.
The enterprise property management platform provider has secured an agreement with a Victorian agency for its Pirsee property inspection platform.
The platform is designed to help property managers and their clients carry out remote routine inspections, via video call, with the ability to capture high resolution photos for review in real time.
AO1 sees this latest agreement as a significant milestone for the company as the state reportedly has the second largest rental market in Australia.
Rental property inspections are regulated at a state level and it’s estimated that 645,000 Victorian households rent privately, which according to the Australian Bureau of Statistics is around three times the size of the private rental market in WA, based on 2017 and 2018 figures.
The agreement is subject to an initial trial which the company expects will take longer than normal to complete due to the current COVID situation in Victoria.
AssetOwl said it has experience working within the Victorian real estate industry as it faces the challenges of COVID. Last year the company entered into a nine month partnership with the Real Estate Institute of Victoria, providing real estate agents access to the platform which was then known as inspector360.
Through that partnership, members received free access to the platform’s remote routine inspections and property marketing virtual tour modules.
Moreover, the company said it believed its product was the only one of its type currently on the market and was therefore “perfectly placed” to help property managers and their clients.
Company CEP Geoff Goldsmith said the entry to Victory was the first step of AssetOwl’s east coast expansion.
“Whilst these challenging times mean that our remote inspection capability has received considerable attention, in the longer term we expect to see Pirsee winning market share due to its full suite of market leading features and functionality.”
Shares closed flat at 0.6 cents each on September 7.
