QLD gives agencies the power to unlock new revenue from their rent roll.

Just received this in my inbox. we don't use this app and we are not about to start using it. my understanding is that an agency would need to have the 5% outlined on their form 6 management agreement.

As an investor are you happy for the agency to get a kickback on maintenance?





Managed App gives agencies the power to unlock new revenue from their rent roll.

Our innovative payments gateway has transformed real estate transactions. That means real time rental income for landlords, instant payments for tradies and new revenue for agencies.

The Managed App tradie marketplace has increased competion for work orders and reduced maintenance headaches for tenants, landlords and property managers.

What's more, you can earn a fee of up to five per cent on all trades that are transacted via the Managed App.

Find out why agencies are switching to Managed App and discover how you can run a more efficient and profitable business today.​

 

And when the app provider fails to remit rent to the trust account ?
Lack of control over trades that perform / bid for work ?

 

If it can be shown that the selected maintenance team consistently provides a good/reliable/quality service ensuring a saving of at least the 5% that is paid to the REA.

 

Which seems unlikely because it just seems to be putting it out there for the cheapest possible quote.

 

Aside from the $6,000-odd "loading/onboarding fee" isn't this how the software is paid for?

From my very hazy memory of the sale pitch, the agents don't pay a monthly subscription, rather - the fee is paid from the tradesman invoices. They (managed app) charge a % on top of the invoice which covers the fee?

 

No Cookies | The Mercury

Interesting read

"Being a renter must suck right now.
After all, you’re sitting on the property sidelines watching house prices go up, up, up.
If only there was a reward for renters.
Well, it turns out there is. It’s a fast-growing scheme called ‘Rental Rewards’, which many of Australia’s leading real estate agencies have signed up to.
Here’s how it works: real estate agents outsource their rent collecting to Rental Rewards, who charge renters a fee to pay their rent, and reward them with Qantas Frequent Flyer points.
On their website the company describes their service as “revolutionary”, “convenient” and “rewarding”.
Yet on the popular ProductReview website, customers of Rental Rewards describe it as: “Absolutely terrible”, “So bad I can’t believe it exists” and “Avoid! Avoid! Avoid!”
(And, in the interests of fairness, I’m not cherrypicking the data: Rental Rewards has 31 one-star reviews and they are all universally terrible.)

... ​

 

Sounds like a good way to burn your rental roll and the landlords that support it.

 

Whats in it for the landlord here? Add a middleman, pluck some fees, and.....?

 

There is a real push right now for Real Estate Agents to subsidize their usual fee income with these side streams- maintenance, utilities, insurance etc. It was sold to me in a recent conference as the 'way of the future'. I'm personally not interested, I believe my clients appreciate transparent and simple fees- they don't have to jump at every shadow thinking they're being quietly sucked dry with every transaction. Specifically regarding maintenance, I can tell you right now most good Trades don't want anything to do with it either.

 

"startups" like this are just vultures in the industry, most industries have them and most good operators see through the bs.