About

Managing rental property is a highly complex activity spanning many disciplines. It interfaces with payments (rent collection), accounting (property accounting), law (contracts), regulation (certificates), engineering (repairs & maintenance) and sales (property marketing). Currently, property management in Greece is performed outside of a digital environment. This creates friction and waste. With the rise of non-operating landlords in Greece (Golden Visa buyers, Greeks abroad, banks’ REO portfolios), the need for seamless property ownership, letting and management is stronger than ever. We have already seen new property management companies appear and the professionals we’ve spoken to have recognized that there’s a gap in the market. They have looked for tools from other countries, but due to the geographic specificity of Real Estate none of them cover the needs of the Greek Market.

Solution & Product

Rent21 aims to be the reference tool for owning, letting and managing Greek property - a collaboration platform centered around real estate assets, where all parties involved in this multi-disciplinary activity can collaborate efficiently. Rent21 has started out as a cloud-based tool for property management companies, typically SMEs that can’t afford to pay to build proprietary tools. It aims to grow into a platform where users from many disciplines will be able to collaborate between them and with the owner on anything property-related.

Innovation & Scalability

Rent21 is the only cloud-based property management solution addressing the Greek market. Beyond this, it will be differentiated vs. similar products from abroad through focusing on seamless collaboration between property owners and related service providers. The competitive advantage will be the network effect created through users’ collaboration on the platform. To achieve this, it will be critical to make the platform work primarily for owners, and this is our focus in designing the product.

Traction & achievements

We have built a working, Beta version (sample user profile in 1st section) and have 6 users trialing Rent21, who hold a portfolio of ~300 properties. We have also received feedback from other users who would be willing to use it if certain features are implemented.

Team & Why Us

Founder: Thomas Papakonstantinou [https://www.linkedin.com/in/thomas-papakonstantinou-a7489126/] is a civil engineer-turned management consultant who has realized the need for Rent21 when he started developing his own buy-to-let property portfolio. Thomas has raised €85k in Angel funding, has built the pilot version of the software in collaboration with a software development agency, and has signed up 6 users who are piloting the app.

Funding Needs

Contact us for more information on Funding Needs.