Real Estate
Report
The Future of Property Management Payments Report identifies the attitudes and preferences that are shaping emerging trends when it comes to the adoption of pioneering payments technology in property management.
Market research firm, Agile Market Intelligence, interviewed 250 property management professionals in agencies across Australia in an online quantitative survey between 29th October and 11th November 2024.
Respondents were required to be employed by a real estate agency that offered property management services exclusively or as part of a real estate sales agency. All respondents were required to have knowledge on how their rent roll transactions were managed by their agency.
This study reveals that there is potential for 40% of property managers to adopt automated payments platforms over a trust account, if given the opportunity to do so. In particular, we found that:
- Currently, only 1 in 10 property managers (10%) are using automated payment platforms as an alternative to a trust account.
- Agencies using automated payments platforms spend significantly less time managing transactions each month.
- 30% of property managers would choose to use automated payments as an alternative to a trust account if they were to start their own agency tomorrow.
- Clarity over compliance is holding back agencies from adopting automated payments to replace their trust account with awareness and education causing hesitation.
