Cove, Southeast Asia’s leading one-stop home rental platform today announced the launch of its best in class property management tech platform, developed specifically for Cove’s partner landlords. With Singapore as one of its key markets in the region, the platform is set to revolutionise property management for landlords and further cement Cove’s positioning as an all-encompassing platform that serves the needs of tenants and landlords.
This feature-rich software was developed in-house at Cove and is the culmination of nearly 4 years of experience working with landlords to understand their wants and needs. It will provide live portfolio data and unrivalled insights into the performance of the landlord’s properties, allowing them to monitor the progress seamlessly. This includes a comprehensive rundown of the property and tenant details, a financial component to track return on investment and a tab that allows landlords to access tenancy agreements easily. In addition, the platform will also highlight any ongoing tickets or complaints from tenants that Cove currently manages. It will also give landlords access to historical data regarding occupancy and rental income of their property.
To further enhance the end-to-end experience for landlords, Cove continues to provide an onboarding process for any new properties added to the platform. This includes home-staging and furnishing to make the property more appealing to potential tenants and a complete 360 immersive virtual reality tour of the listing, which features on their slick online listing platform.
Commenting on the rollout of Cove’s landlord platform, Sophie Jokelson, Co-founder and Chief Marketing Officer of Cove said, “At Cove, we believe that creating value for all our stakeholders is the key to a sustainable business model. We have successfully made renting more accessible and tenant-friendly, and we are now pleased to provide valuable performance insights and software tools to our landlords for effective property management.”
“As part of this roll-out, Cove is introducing the new landlord enhancement through a mobile app in Indonesia to cater to the growing market demand for real-time property investment tracking there. In the near future, we have plans to introduce the app version in Singapore and landlords can look forward to overseeing their portfolio on the go” she added.
Cove now has over 3,000 rooms in its portfolio across Singapore and Jakarta, managing a total of 950,000 sq ft of residential real estate. The company is growing aggressively, with its Q1 net revenues increasing by over 170% compared to the previous quarter. Cove has worked with over 250 landlords since the company’s inception, including everything from private individuals and family offices to large institutions like the Lippo Group and Keppel Land, who has also invested as a shareholder in the company’s last funding round in 2020. Landlords working with Cove can expect improved rental income as a result of Cove’s renovation, interior design and staging services. There will also be significant uplifts in occupancy rates thanks to the high volume of tenant demand the Cove brand platform generates each month.
Since its launch in 2018, Cove has poised itself as an all-in-one platform for tenants and landlords by addressing the gaps in the industry through a seamless process. With a vision of solving the industry’s pain points, the landlord platform will be the first of many developments that Cove intends to adopt to enhance the full suite of services for all key stakeholders. The company is currently working on expanding this offer to more cities in the region, with launches in Bandung and Bali expected in Q3 2022 and new countries, such as Vietnam, in 2023 and beyond.