Tech startup Managed receives support from REA Group

October 29, 2019
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REA Group has recently invested in a technology platform that could earn it big bucks in the future, according to the Australian Financial Review

You may be aware that REA Group is already invested in a number of real estate related businesses including realestate.com.au, realcommercial.com.au, Spacely, Flatmates.com.au, Smartline, Hometrack and 1form.

It has now taken up a 28% stake of Managed, an online platform designed to help property managers, tenants and landlords arrange repairs and maintenance.

With all of the large apartment buildings and unit complexes, there’s an opportunity for technology to help the growing rental market become more efficient in its processes.

Through the Managed app, tenants can pay rent and request maintenance & repairs which will immediately notify the property manager and landlord. Tradies are also immediately paid by the Managed system.

How does any money get generated? It’s free for the real estate agents, Managed takes a small fee of each trade job done with over $60 million of work done through the app. Over 5,000 tradies have signed up with 105 real estate agencies also using the system.

One of the people involved in Managed, Alex Whitlock, said to the AFR “We’re similar to Airtasker but we take a much smaller clip of the ticket. We won’t have to do a capital raising for the foreseeable future.”

Read more here

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