Home365 is shaking up the Las Vegas property management industry with its innovative property management technology that will improve the landlord-tenant arena in a way that is unmatched by the traditional property management model.
The company bundles a multitude of services for a one-rate fee, including management fees, repairs, maintenance, tenant placement and rent loss due to vacancies. Daniel Shaked, founder and CEO of Home365, created the new data and AI-based model as a way to provide a solution for ongoing issues between traditional property managers, property owners and tenants.
“Home365 offers an advanced way to refine communication between parties, improve overall customer service and assist landlords in what can be a very demanding and stressful business,” Shaked said. “This platform will save property owners up to 50 percent in costs and will help restore a sense of trust between renters and property owners.”
Tenants, property owners and service providers communicate through Home365’s own app, which uses intuitive technology to report maintenance issues, schedule repair visits and track the process from beginning to end. The platform also gives tenants the ability to send video of the problem directly to the service provider. After scheduling an appointment, the tenants can track the movement of the maintenance worker through a map feature to save time and frustration. All fees are covered by Home365 without any additional cost to the property owner. Issues are addressed in a shorter amount of time removing confusion and hassle from the equation.
“The platform essentially measures every aspect of how service providers interact with the tenants, from calculating each worker’s average response time to closing out the incident. A total of 30 different parameters, including the rating by tenants, late arrivals and the number of visits all factor into a service provider’s average quality score,” Shaked said.
Since Home365 takes on the operational cost of maintenance, the company invested in a massive proactive maintenance plan that includes monitoring through sensors to both predict and prevent major issues.
Home365’s entrance in Las Vegas includes the acquisition of Pangea Realty & Property Management, a local company that owns over 300 single-family homes in Southern Nevada.
“Home365 is going to change the property management industry, and it’s long overdue,” said Ron Nir, formerly Pangea Realty & Property Management and now with Home365. “I look forward to working as a part of the company to bring their innovative business model to property owners around the world.”
Las Vegas’ high proportion of out-of-town investors, who own rental properties coupled with the high demand for single-family home rentals, made Las Vegas an ideal place to launch the service. Currently, there are only 1,150 homes available to rent in the Las Vegas market, according to partial statistics from the Greater Las Vegas Association of Realtors.
Bolstering the unique service is Home365’s guarantee to cover rent for vacant properties of up to one year and tenant management program to screen and place renters.
More than 40 data points are used to generate the property specific monthly fee, including the home’s age, size, type of flooring, plumbing infrastructure and types of appliances. Home365’s pricing structure typically saves up to 50 percent in operation costs versus the costs paid to traditional property management companies. In addition, the OneRate pricing structure aligns the property owner’s interests with those of the property manager.
Home365 is technologically driven property management company based in Silicon Valley. The company uses a unique algorithm to generate an all-inclusive OneRate monthly price that covers everything from repairs, maintenance and tenant turnover services to vacancy guarantee and management fees. Home365 offers an innovative way for tenants, property owners and service providers to communicate via the app, which uses intuitive technology to track the entire service process. The company entered the Las Vegas market in June 2019 and is providing its services to 300 properties in the Las Vegas Valley following the acquisition of Pangea Realty & Property Management. Home365 continues looking to expand by acquiring more local traditional property management companies. For more information, visit home365.co.