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V&A Waterfront first major South African residential property owner to appoint a PropTech company
One of Africa’s most popular travel hotspots, Cape Town’s V&A Waterfront, has recently appointed HouseME as the managing agent of its residential to let portfolio, The Breakwater and Ports Edge, comprising of a total of 259 apartments.
The V&A Waterfront now becomes the first major South African residential property owner to appoint a PropTech managing agent and many believe this will have significant implications for the broader property industry. While PropTech has been a buzzword since 2015, many are unconvinced as to its ability to succeed. This appointment, however, is a clear message from the V&A Waterfront that it plans to adopt more innovation in its property management approach.
V&A Waterfront Executive Manager for Hotel and Residential, Leigh Thomas, says, “As an exceptional South African brand, the V&A Waterfront is constantly looking for ways to innovate. Our decision to work with HouseME is informed by their focus on data-driven decisions and technological efficiencies which drive cost reductions. New technology such as their PlaceME tool assists to achieve fair market-related rentals for our apartments. HouseME also guarantees two months of rent for tenants that they place, something we have never had before and allowing us to broaden our reach in the market.”
HouseME has a unique set of features aimed at boosting the yields of residential real-estate portfolios. We are very excited to prove ourselves with such a fantastic South African institution. The nod of approval provides others with confidence that we are indeed delivering on our promise of building the new way to rent.
HouseME will use a combination of proprietary technology and traditional high-touch face-to-face support to manage the portfolio where there is one landlord and one managing agent providing a consistently high level of service.
Residents of The Breakwater and Ports Edge are able to enjoy living in the heart of the vibrant V&A Waterfront, surrounded by landmarks and excellent amenities. The Breakwater building offers stunning views of the Atlantic Ocean, including an inviting, infinity swimming pool, with a perfect relaxation deck and a gym in the building. Ports Edge offers excellent views of the marina. Both apartment blocks offer free WiFi.
Global trends are clear. Technological efficiency will disrupt all markets, altering the cost base and allowing for new business models. HouseME presents an opportunity for property portfolios to transition into the future of the property industry and reap the rewards of the associated yield maximization.
Ben Shaw and Kyle Bradley are Co-founders of Proptech Company, HouseME, Winner of Seedstars World’s Best Start-Up Company in Cape Town.
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Header Image: Terry Magallanes
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Photo by V&A Waterfront
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Photo by Sharath Babu