Self-managing real estate: Will property management still be needed in the future?

The target group is private and small commercial landlords with one to 100 units. With Flatwise you should be able to save yourself the costs of external property management.

What it can’t do (yet).

However, the development of autonomous real estate management is not yet complete. Flatwise wants to differentiate itself from conventional management software in two ways: The platform is trained on Austrian tenancy law and describes itself as “AI-native”. To put it simply, the software was developed from the ground up so that AI can access the stored real estate data and work with the software’s functions.

In fact, the AI ​​at Flatwise is primarily a support. For example, it can read information from documents, help with the design of buildings or answer questions about your own real estate portfolio. For example, a landlord can ask how much Learning quote of its entire portfolio is which apartments have been empty for a particularly long time or where there is potential for optimization. The AI ​​collects the relevant information itself and gives an answer.

Pipe burst scenario

The apartment is under water and a pipe has broken in the kitchen. The tenant writes a short message using the Flatwise app. Ideally, a repairman would be at the door a few minutes later. Flatwise isn’t quite there yet. Landlords can store their tradesmen in the software and assign them to the respective apartments. However, the landlord currently has to contact the installer and make an appointment himself. This is exactly where the next stage of development should begin: In the future, the AI ​​will understand messages from tenants on its own platform, prioritize concerns and answer simple inquiries itself. In more complex cases, she should involve the landlord.

Where it wants to go

The start-up focuses on increased AI-supported interaction between tenants and landlords. In the future, tasks should also be completed independently. However, there is still a way to go until the property is completely self-managed. And people remain responsible, especially in legally sensitive processes.

This can be seen, for example, in the Operating cost accounting. Flatwise can create billing automatically. However, if a purchase, for example from a hardware store, was entered or assigned incorrectly and incorrect costs are charged as a result, ultimate responsibility lies with the landlord. The AI ​​chat also does not replace legal advice.

End of August Flatwise is officially launched. According to the start-up, in the beta phase so far, the software has already been tested by landlords with more than 3,000 managed units. The feedback from these users was continually incorporated into development. The aim is to further optimize the product by the end of the year.