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The proptech has struck a deal to add reHeroes to its arsenal.
Formerly Rental Heroes, reHeroes has become known for its AI-powered communication tool, named Alex, that has been deployed across Australian agencies since the proptech launched in 2019.
Now becoming part of the Proptech Labs suite, reHeroes assists roughly 3,200 property managers to manage their rent rolls, comprising 130,000 properties and 415,000 users.
In announcing its acquisition of the rental management software, Proptech Labs noted that reHeroes had almost quadrupled its reach in the past two years alone.
Thanks to its impressive growth and future potential, Rafael Niesten, co-founder of Proptech Labs, described the deal as “more than an expansion of our market presence, it’s a significant enrichment of our technological arsenal”.
Speaking of their plans with the product, Niesten shared that the firm would be working to “seamlessly integrate the reHeroes’ platform with our existing AI technologies and platforms”.
The firm’s other recent acquisitions include Maintenance Manager in 2022 and Inspection Manager in 2023.
The addition of reHeroes will see Proptech Labs work to “embed sophisticated AI tools into every layer of the property management process, from automated tenant inquiries and predictive maintenance algorithms to AI-driven decision support systems for property managers,” according to Niesten.
Ben Burton, co-founder of reHeroes, said that the acquisition was a “transformative development for both our team and our customers”.
“By joining Proptech Labs, we are poised to integrate further AI capabilities into our platform, enhancing our operational efficiency and the overall user experience, in addition to linking to their other platforms of maintenance, inspections, invoicing and key solutions,” Burton explained.
“This acquisition not only expands the technological base but also broadens our horizons in innovating property management solutions,” he added.
Proptech Labs will reportedly be focusing on bolstering three aspects of the service as the integration rolls out: enhanced data analytics, automating routine tasks, and improving tenant services.
"Through this acquisition, Proptech Labs is not just growing in size but is also advancing our capability to innovate and lead in the AI-driven property management space,” added Niesten.
"We are excited to set new standards for the industry, enhancing operational efficiencies as well as both tenant and owner satisfaction.”
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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