Momentum Markets Pty Ltd acquires majority shareholding in Managed Platforms Pty Ltd, Australia’s fastest-growing property management platform.
Momentum Markets Pty Ltd (Momentum) has successfully concluded a transaction to secure the majority shareholding of Managed Platforms Pty Ltd (Managed), marking a significant move in Australia’s thriving property management sector.
Managed, a pioneer in the property management technology domain, introduced the first digital platform offering direct and automated payments for real estate rental transactions. Their cloud-based software provides a secure and efficient alternative to traditional trust accounts for real estate transactions, eliminating the need for trust accounting software.
In this strategic move, Momentum expanded its existing stake in Managed by acquiring shareholdings from co-founders Nicholas Bouris and Thom Richards, as well as from realestate.com.au. Momentum is a prominent media, events, technology, and marketing business with a vast network connecting millions of professionals across various market segments, including property investors, home owners, real estate agents, property managers, and mortgage brokers.
Managed, founded in 2018 by Thom Richards, a seasoned property manager, and Nicholas Bouris, a tech entrepreneur, revolutionized property management technology within just five years. Their vision was to create a cloud-based platform that combines modern automated payments with an intuitive workflow property management system, addressing the cumbersome and manual process of managing real estate payments through a trust account.
Phillip Tarrant, director of Momentum and chairman of Managed, expressed admiration for Managed’s journey, describing it as “nothing short of incredible.” He acknowledged the pioneering spirit of Nick and Thom, highlighting their success where others have faltered. Tarrant emphasized the transformative impact of Managed, offering agencies the ability to operate faster, smoother, and more profitably while enabling landlords to maximize their real estate investments.
Today, Managed stands as Australia’s fastest-growing property management platform, leading the market in automated and direct payments among tenants, landlords, and tradespeople. The platform has facilitated close to $3 billion in payments across thousands of stakeholders.
Tarrant emphasized the timely nature of Momentum’s increased shareholding, citing the challenging conditions for property managers amid rising rates and increased holding costs. He underscored Managed’s strength in providing better cash flow for landlords through direct rental payments, especially in such market conditions.
Looking ahead, Tarrant foresees a gradual but steady shift toward property management platforms centered around direct and automated payments. He highlighted Managed’s attractiveness for startups and established agencies alike, emphasizing the advantages of starting with technology that prioritizes automation over traditional trust account management.
Momentum’s expanded investment in Managed is seen as crucial for supporting ongoing growth, development, and market penetration in core segments. Tarrant positioned Momentum as a well-connected, invested, and well-capitalized partner, shaping a positive future for Managed in an industry where a modern payments platform is essential for the benefit of tenants, landlords, and property managers alike.
