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There is no shortage of tech available for sales agents and traditional property management, but short-term property management has slipped between the cracks – until now.
Seiko Ma, the owner of Brisbane-based short-term rental organisation Alice’s Home and My Virtual Cohost, believes that short-term rental (STR) property managers face a unique set of challenges.
Throughout her years of experience, Ma has found that the majority of existing technology is designed for long-term property managers, whose needs differ widely from managers of STR accommodations like Airbnb.
“Managing an STR or Airbnb property is akin to running a hotel, including marketing, nightly rates, cleaning fees, platform and management fees, maintenance and so on, so they will often seek professional help,” she said.
Taking on the services of specialist STR property managers can ease the burden on property owners, but without adequate technology to support their work, STR property managers may struggle.
In her own businesses, Ma found that “we were having to use three different technology platforms in order to service our STR owners properly”, an ordeal that became even more burdensome when the team needed to fill in the gaps manually.
“The technology has clearly not caught up with the boost in popularity in this sector,” said the business owner.
Over the coming months, she has plans to address this proptech shortfall herself. At Bodhitree Technology, the parent company of her two property management businesses, Ma stated that she is currently leading a team to develop the new technologies that STR property managers need.
“We are developing software that integrates AI and virtual assistants (VA) to assist property managers and owners in managing their properties effortlessly, enabling them to be completely hands-free,” she said.
Ma stated that she is currently in the midst of ongoing conversations with investors in the property and technology industries and beyond to secure funding.
According to the business owner, the new technology “is set to be the first in the world”, given that STR property management is still a burgeoning industry.
Ma stated that the technology would be available for use by STR owners who self-manage their properties in addition to professional property management companies.
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