After launching this February, Rent360, a real estate startup based in Sydney, has secured $350,000 in angel funding. The company aims to disrupt the traditional real estate agency model by connecting independent property managers directly with investors for a more transparent and cost-effective delivery of tenant and property management services.

Rent360’s co-founder and CEO, Jared Keen, believes that the current property management model is broken and that the majority of landlords and property investors are dissatisfied with the services they receive. Rent360 seeks to provide an alternative to the current two-tier solution for investment property management.

The platform aims to help career property managers who are typically underpaid, overworked, and have limited career growth opportunities. Rent360 provides a “business in a box” solution that removes barriers such as high costs and overheads for property managers who want to start their own businesses.

Rent360’s platform offers access to software and support services such as a CRM system, virtual receptionist, end-of-month accounting, and property performance data for property managers. Investors can access ratings of property managers and an owner portal to easily view property performance, maintenance issues, and tenant payment status.

Chasing “smart money” in investment

Jared Keen, the co-founder of Rent360 and a successful entrepreneur who built and sold Couponstar for an eight-figure sum in 2011, emphasizes the importance of building a strong team to ensure the success of his new venture.

Reflecting on his previous experience with Couponstar and Coupons.com, Keen emphasizes the need to surround himself with people who have a deep understanding of the industry. To that end, he has brought together a powerful board of advisors and investors to help grow Rent360.

Keen’s pursuit of “smart money” led him to seek out angel investors with a range of skills in the industry, who could support the development of the business and provide access to valuable networks.

Among Rent360’s investors are former Rockend CEO John Goddard, managing director for Amazon Web Services Australia and New Zealand Paul Migliorini, real estate veteran and Console executive Ian Campbell, Aviate Group founder Neil Smoli, and Zeetings co-founder Neill Miller. Keen’s aim was to assemble a team of people with diverse expertise in real estate and technology to support the growth of Rent360.