Our Q&A series is an opportunity for our Southern European team, headed by Giulio Di Pietrantonio to discuss all things PropTech, Start-ups, and Career with different founders from across the region. Each week we will ask PropTech innovators burning questions and quiz them about their product, we hope you find it insightful and enjoy getting to know the founders as much as we have.
Homming is a 360º software that improves, automates and digitalizes rental property management, saving up to 60% of the management time. Our business model targets from small owners to third-party property managers or stock corporations, and comprehends the whole rental cycle. Our main features include search and analysis of potential tenants, generation of contracts and digital signature, control of expenses, income, charges and payments, resolution of casualties, documentation storage, centralized communications, independent portals for managers, tenants, owners and providers, generation of reports and profit monitoring.
Homming was created to solve the pains I already knew from my own experience as rental property manager, when I noticed there existed no tool that digitalized or automated many of the tasks I had to carry out. That’s when the idea of homming started to take shape. In 2019, along with the other founding partners Javier Martí, José María Rincón and Asur Bernardo, we were able to develop a software that would fill that gap in the market.
During my time as rental property manager, I noticed this lack of digitalization in the industry forced me to spend long hours completing manual tasks, and that the documentation, communication with tenants and owners or solution of casualties was completely decentralized, which is why I decided to create a product that would bring solution to all those pains.
Homming is the answer to all these problems because we focus on the customer experience: we listen on any new suggestions or enquiries our customers may share with us and look for ways to adapt our service to include them, so that Homming is and always will be a state-of-the-art rental property management software.
Perhaps the greatest challenge is the unawareness our potential clients have on how PropTech companies can really improve their working process. In our case, most rental property managers do not notice how this lack of digitalization obstacles and slows down their tasks, they do not search for solutions because they do not notice the problem, and it is sometimes difficult for us to convey the great service a tool such as Homming provides.
We plan to continue our expansion in the Spanish market. By the end of 2022 we plan to have 50.000 properties under our management, which we expect will become 150.000 by the end of 2023.
Spain doesn’t have such a strong investing and entrepreneurial culture as, for example, the United States. However, our experience in the Spanish fundraising landscape has been positive. When the first funding round takes place, if the investment is well leveraged, it is not difficult to renew it to long-term funds. Nevertheless, we do not limit ourselves to sources of funding in the Spanish market.
Although, as I previously mentioned, many companies ignore how PropTech companies bring solutions to their problems, we are doubtlessly the future of the Real Estate industry. Companies have not dedicated efforts and funding to modernize their processes in these last few years, and we are here to deliver that solution already developed and verified. Some companies will take longer than others to figure out how necessary this digitalization process is, but either way, we PropTech companies are here to stay.
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