All stakeholders to drive demand for AssetOwl technology
Despite positive news flow over the last 12 months that has resulted in some sharp share price spikes it has been somewhat of a rollercoaster ride for enterprise property management platform provider AssetOwl Ltd’s (ASX:AO1) shareholders.
However, news released last week appears to have not only provided a significant share price uptick of about 30%, but the company has managed to hold on to most of the gains since its shares doubled in July/August.
Last week’s news was extremely important from an operational perspective with the company announcing the commercial release of Inspector360, the revolutionary next generation of its photo-centric property management platform.
The Inspector360 app is now available for download from the Google Play store and Apple’s App Store to mobile and tablet devices.
Highlighting the significance of this development, earlier in the year the company’s shares increased three-fold when management announced that it had negotiated a partnership agreement with a leading property inspection service provider to bring Inspector360 to market.
Inspector360 builds on AssetOwl’s existing residential inspection software, InspectorAsset, which uses virtual reality technology to create an internal view of a property to assist all stakeholders before, during and at the conclusion of a tenancy.
As indicated below, the Inspector360 platform can be used on desktop, tablet and mobile devices.
Other property majors working with Asset Owl
Commercial rollout has commenced with acceptance trials through RE/MAX WA, part of a 120,000-strong network of agents active in over 100 countries and territories.
Having completed development of Inspector360 v1.0, AssetOwl is now focused on refining the user experience and stability at scale of the platform’s key functions.
These include providing tenants, property managers and landlords with an exact record of the condition of residential properties during a tenancy and when tenants move in and out, using AssetOwl’s proprietary virtual tour technology to create an internal view of a property.
The platform also provides speech-to-text conversion of verbal descriptions of the apartment or house, which is then integrated with the property report, optimising the paperless condition report workflow between property managers and tenants during the entry inspection process.
AssetOwl is in the process of finalising full contracts with RE/MAX and with other parties that have been working with AssetOwl to aid development of Inspector360, including Colliers International (WA), PCR & Inspection Services, The Agency and Attree Real Estate.
All parties benefit from the technology
Highlighting the revolutionary impact this has on the industry and the significant value add for all parties to the rental agreement, chairman, Simon Trevisan said, “The release of Inspector360 into the Australian property management market is a milestone event for the company.
‘’My fellow director Geoff Baldwin and I collectively have over half a century’s experience in the residential real estate sector.
‘’Drawing on this experience supports our view that Inspector360 has the ability to revolutionise the way house inspections are done, creating substantial value for tenants, managing agents and owners by both bringing significant economic efficiencies and greatly improving the qualitative outcomes.
‘’We will continue to enhance Inspector360 to ensure the platform stays at the cutting edge of the property software market.
‘’This will underpin our value proposition to AssetOwl’s customers, their end-users and to our investors.”