Steady Technologies, a proptech that provides property managers with market insights, rent protection and liquidity through its Rent Advance offering, today announced making the first round of Buildium’s new marketplace, according to a press release shared with FinLedger.
The company says through its rent protection products it can offer qualified property managers, many of whom use Buildium as their software system of record, with full lease term’s rent up front. It says this product, offered through an affiliate licensed agency and in partnership with a top U.S. insurance carrier, it gives landlords peace of mind, and less worry about cash-flow during a volatile time in the market.
Steady noted that the key to efficient distribution of its technology is teaming up with established accounting software providers and property management organizations, and says that cooperation with providers like Buildium enables easy onboarding and set-up of data feeds.
“Our data engine analyzes the portfolio and resident payment history before subscribing rental units to the program, allowing us to fully understand the risk in real-time,” stated John Higgins, co-founder and CEO of Steady. “Then we want to deliver a delightful user experience with no speed bumps.”
While the company is already integrated with nearly two million units in its target market, according to the release, it says that this partnership integrates it gives it access to one of the leading software providers for residential property managers. That means more opportunity to tackle the $4 trillion market of “mom-and-pop” landlords, according to Buildium.
Steady also said that while integrations pose a consistent challenge for property owners and managers, it is focused on taking on these roadblocks and has already established connections with popular accounting software systems that do not support third-party interfaces.
“We launched the Owner Benefit Package TM six months ago with zero integrations,” said Higgins, pointing to Steady’s rent protection, market updates, legislative monitoring and Rent Advance TM product suite. “And we’ve averaged 80% month over-month growth. We can’t wait to introduce our solution to new customers with a turn-key approach.”
In other recent proptech news, Flueid secured $20 million in funding and stated plans to scale its home equity services. Parity also raised a $5.7 million Series A for its multifamily HVAC energy management platform.