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Property Connect Holdings shares rise on launching U.S. rental platform

Tuesday, March 28, 2017 5:33
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(Before It's News)

Property Connect Holdings’ (ASX:PCH) shares were trading 44% higher intra-day after commercially launching its LiveOffer platform for the US$165 billion U.S. multifamily rental market.

The company’s LiveOffer software as a service (SaaS) platform offers property management companies a simple solution to manage their residential leasing process.

The platform facilitates a real-time rental application process, which maximises rental revenue for property management companies, while optimising the rental offer process for tenants.

When a property manager initiates a LiveOffer for a rental property, they rank by importance the key criteria a successful applicant should meet.

The prospective tenants submit their rental applications and specify other key variables including the amount of rent they are willing to pay, the date of commencement and the duration of the lease.

Property Connect has already signed two property managers, Berger and EIMC, and has begun on-boarding all apartments currently available for rent to its platform.

The company will earn upfront a conversion fee plus a percentage of the property’s rent based on the term of the lease.

The LiveOffer launch signals the start of commercial revenue generation for Property Connect.

The company is continuing to focus on converting more of the signed letters of intent with 293,000 apartments, as well as capturing new U.S. multifamily property manager customers.

Story by ProactiveInvestors


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