Thom Richards, co-founder and proptech innovator, is bringing the Cohabit platform to the strata and body corporate market, aiming to digitize and improve access to essential building data.
The platform is focused on providing streamlined data for strata buildings, aiming to reduce the challenges that owners, body corporates, strata managers, and property purchasers often face.
Using AI, Cohabit generates a Health Score and digital profiles for strata buildings, evaluating aspects such as financial health, liveability, compliance, and environmental sustainability.
Cohabit streamlines property buying and management by digitizing key processes. This includes building data management, strata searches, owner’s corporation (OC) reports, compliance tracking, and financial transactions. By centralizing this information, Cohabit empowers stakeholders with a comprehensive view of property performance.
Richards highlighted that this unique data provides a holistic understanding of a building’s performance. By analyzing this information, stakeholders can identify areas for improvement, mitigate potential risks, and implement data-driven strategies to enhance property value and improve the living experience for all residents.
Richards brings a wealth of experience in real estate, project management, and product design to the Cohabit venture. As the co-founder of Managed, a direct and automated rental payments platform, he has played a key role in processing billions of dollars for agencies and landlords across the country since 2018.
The strength of Cohabit comes from its accomplished team of leaders, including Daniel Barrins, a fund manager based in Hong Kong, and Michael Cindric, the founder of Sentia Australia. In addition, a group of influential investors from various industries, including corporate, legal, product, distribution, and AI, provide further support.
Richards shared that, although Cohabit was initially tailored for the Australian strata market, its true potential extends far beyond Australian borders. The platform’s capabilities are virtually limitless, making it a valuable tool for many international markets.
To realize this global ambition, the company has started exploring common interest developments in the US and other potential markets. Richards emphasized that just like in Australia, where more than 3,000 buildings are already leveraging the platform, Cohabit is set to provide immense value in other parts of the world.
According to Richards, Cohabit can be instrumental in any situation where a centralized asset exists and a group of owners shares an interest in its performance. The platform helps by offering the necessary data, resources, and services to enhance asset values and ensure positive outcomes for residents.
