Re-Leased app places property portfolio in your palm

Cloud-based applications are changing the way every industry does business, and the property market is not immune to this revolution.

Two startups who are leading innovation in this field are Re-Leased and Re-View, property management applications built by real estate professionals for real estate professionals.

You may remember a recent story we did on Rory O’Connor’s journey with Re-View, the agency-targeted property management platform that some of New Zealand’s biggest firms are using.

An app that shares some of the same traits and founding members of Re-View is Re-Leased, a cloud-based platform that is tailored to the needs of property managers and property investors. Re-Leased takes a diverse portfolio of properties and puts them in the palm of your hand where you can manage budgets, listings, and most importantly, financials. Re-Leased features full integration with Xero to provide property owners with a comprehensive management system for their properties.

The app removes the need for clunky spreadsheets, calendar reminders, and separate applications to manage the different aspects of of the property industry.

“The idea for Re-Leased came about while I was working for my family’s property company in Hawkes Bay,”  said CEO and founder Tom Wallace. “I was frustrated with their expensive, slow and clunky property management systems. After researching the market, I decided there was a significant opportunity for a cloud based, well-designed, and intuitive solution.”

While some dismissed it as a passing fad, Tom has always seen the cloud as the way forward for software companies. He had watched as dynamic software companies like Xero entered and utterly disrupted the market. He had observed them recording exponential growth, and Tom realised early on that in order to make a product that could match the demands and requirements of today’s real estate industry, it had to be built in the cloud.

Tom knows he is not alone in this realisation, and this has helped him throughout his startup journey. The Xero ecosystem is a supportive network of accountants and bookkeepers who are always interested in sharing insights and ideas with each other,  and the infrastructure they have built up allows startups like Re-Leased to gain exposure in big markets.

It’s the alignment with similar companies in the Xero ecosystem that makes the many challenges one can expect to face in a high-growth startup less daunting. Most startups in the network know each other and can vouch for one another’s reliability. This helps build the trust needed to acquire and retain high-quality clients.

“Starting a software company is hard and a lot of work,” Tom says. “We spent countless hours designing Re-Leased to make sure we had a product that fit’s the many markets we were targeting across the world.”

Upon launch, the next challenge was to build trust in our brand. Most of our customers use Re-Leased to manage multi-million dollar portfolios – therefore they require a great deal of confidence in our application.”

“There is no silver bullet for building trust other than putting the customers needs first,” Tom explains. “This approach has seen our trust build up significantly over the past 18 months and it continues to grow each day.”

Re-Leased has been created and established using private funds, and Tom has even rejected offers for investment in the company. “We constantly review this,” he said, “and may look to run an initial funding round in the future.”

If Re-Leased were to raise funds, it would most likely fuel expansion efforts. The next few years will consist of late nights and early morning for Tom as he looks to take the company global. The team plans to establish itself in Australia to support the growth they’re experiencing there, and in the next 12 months, Re-Leased may open offices in the UK and US.

It’s got to be tough walking a mile in Tom’s shoes. Being involved in Re-Leased and Re-View, two rapidly growing startups, Tom has to consciously find ways to be as productive as possible.

“Both companies have great people involved who are passionate about what they do and work very hard,” Tom said.

“Personally, I try to set aside as much time as possible to get away from email, phone, and other distractions to think about wider strategy. It is easy to get stuck in daily tasks which can distract you from the bigger picture which is really important.”

It seems as if running a business that removes stress for property owners can be stressful in itself. Funny how these things work.

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