Since its recent launch, Asian proptech start-up FlatMonthly (www.flatmonthly.com) reports that contract revenues from online apartment rentals have surpassed the million-dollar mark.
The company, which aims to be “the Amazon of month-or-more rentals” — filling the medium-to-long-term property rental market niche ignored by online booking giants like Booking, AirBnB, and Agoda – is already expanding from its bases in Bangkok and Singapore to Kuala Lumpur as well as other ASEAN capitals and real estate hotspots in the coming months.
Flat Monthly co-founder Michael Hogg finds in this early success confirmation of the company’s business model and proof that real market needs are being addressed.
He credits the value proposition of providing highest quality rental listings to owners and agents at no upfront cost.
Flat Monthly offers unique features like 3D photos, Virtual Reality walkthroughs, and online-only digital leasing signing at no financial cost or risk to owners and agents, so they have nothing to lose.
Our income is all performance-driven, based on new rental income we bring on. And because we allow no duplicate listings, there’s a powerful incentive for landlords and agents to upload listings as soon as possible.”
Early real estate agency partners have called Flat Monthly:
… the perfect marketing and distribution channel for showcasing the many high-end properties that they represent.
Most clients are international executives, consultants, professionals and diplomats who require high quality accommodation solutions and a super-efficient booking processes.
Flat Monthly’s high definition photography, virtual reality video tours, and detailed property information reflect the quality and transparency that we and our clients expect.
FlatMonthly has also benefited from partnerships with co-living pioneers like Hmlet, and luxury property development companies like Sansiri. Mr. Hogg says that, despite the fast start, the company is concentrating on quality and execution, even at the expense of growth speed.
Our focus remains on building our network and property inventory to feed the growing demand on the tenant side as well as educating agents and development companies about the advantages of our platform.
Mr. Hogg noted that the 3rd quarter – rainy in South East Asia — is typically a slow period for accommodation and hospitality — so it’s a good time to consolidate the gains in preparation for the year-end high season. “Still”, he said,
We expect to pass the US$2 million mark in the next two to three months as more locations come on-stream and our new corporate client agreements and agency partnerships kick in.
About Flat Monthly
Flat Monthly (www.flatmonthly.com) is a revolutionary platform for landlords, agents and tenants to expedite listing, searching and transacting agreements for the medium- to long-term rental of condominiums and apartments.
By moving the rental process wholly online, automating many routine tasks, and adding cutting edge features like 3D photography Virtual Reality tours and digital signing, we offer all parties an innovative way to streamline the rental process end-to-end, saving time and money while achieving more satisfactory results — quicker, easier, and more efficiently.
In short, we make the long-term rental process Beyond Easy!
The business currently operates in Thailand, Malaysia, and Singapore.
Mr. Michael Hogg
Chief Executive Officer
Phone: +65 90303643
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