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Home365 Announces AI-Based ‘Property Maintenance as a Service’ Revolution

September 17, 2018

PALO ALTO, Calif.--(BUSINESS WIRE)--Sep 17, 2018--Home365, provider of revolutionary artificial intelligence (AI)-based property maintenance services, has announced its new innovative Property Maintenance as a Service platform that is set to transform the rental maintenance market. Home365 delivers Real Estate investors up to 30% increase and a fully predictable ROI on their rental properties, alongside superior satisfaction and a hassle-free process for tenants, property managers and owners alike.

Home365 is an integral driver of the Smart/Connected Home market. The ability to interpret and react to data sent to the platform from connected appliances and IoT sensors in each property enables predictive and proactive maintenance and analytics at scale, with the associated reductions in cost.

Home365 is available through an individually priced monthly subscription plan that includes all labor and materials under ‘wear and tear’, including tenant turn-over, maintenance costs and more. Each contract is set up with personalized-by-property pricing, taking into account a wide range of different factors. These include the age, size and type of the property, the local climate, the history of maintenance, the demographic profile of tenants and the cost of local labor.

Each property, its systems and appliances are captured on the Home365 platform via video. By leveraging and integrating algorithms and AI tools to analyze the content, Home365 can fully understand the property and customize the service and price to suit.

The maintenance workflow process is optimized through the Home365 platform. Tenants report issues using a mobile video app, and the most appropriate Professional (Pro) is identified to rectify the problem. Using algorithms tuned to predict the most efficient and successful outcome, more than 40 different data points are utilized to profile and assign the best-suited individual or company from Home365’s network of qualified and approved service Pros. The tenant and the maintenance crews use Home365’s mobile apps to efficiently power the complex maintenance workflow. The platform allows in-app calls, video chats, messaging, reminders, and location tracking of the chosen Pro, who will schedule a visit at a convenient time for the tenant.

The Home365 platform tracks and monitors the service efficiency, price and quality to create a full audit trail, and the property manager has full transparency and clarity to control the process at all times.

Home365 is designed to be simple to access, efficient and cost-effective, establishing a relationship of trust between the property manager, the tenant and the selected Pro while providing full predictability and a better ROI for rental Real Estate investors.

Pangea Realty and Property Management in Las Vegas is the latest client to sign up for Home365 to manage its 250-strong rental portfolio across the city.

“This is what investors and property managers have been looking for – professional reliable maintenance support with no bill shocks,” said Ron Nir, Owner of Pangea Realty and Property Management. “Now that Home365 is on board with its innovative tech-driven service, the main headache of managing our property portfolio has simply vanished. With the upkeep of our real estate in safe hands, we can concentrate on looking at new investments in the increasingly active Las Vegas rental market, and helping more people into quality homes.”

“We are delighted to welcome Pangea Realty and Property Management to the Home365 platform and its benefits. Historically, home warranty companies have offered inflexible services usually limited to appliance guarantees and basic systems, with high call-out costs and questionable quality control,” said Daniel Shaked, founder and CEO of Home365. “We utilize AI and IoT advanced technology to optimize pricing and ensure controlled quality service. The data collected on each property means that our service can predict when preventative or routine maintenance is due, providing further value-add for the property manager and a better service, and home, for the tenant.

“Compared to home warranty services, which are reactive only, our unique Home365 service works as a proactive partner to the property manager and the tenant to provide a seamless and superior service with no unexpected expenses. It delivers seamless maintenance and a properly-maintained property portfolio that delivers a better ROI with a lower cost of management, and is more attractive to potential tenants.”

On completion of each maintenance item, the property manager can view a summary of the work, including the cost of labor and materials, to ensure there is value for money being demonstrated from the all-inclusive monthly fee. The secure and personalized property dashboard can be accessed at any time to view property condition, project history, and reviews of the Pros used to undertake the work.

About Home365

Home365 is disrupting the $500 billion home improvement and maintenance market by leveraging AI and the IoT to optimize processes and achieve better, more cost-effective results. Home365 is headquartered in Palo Alto, CA with its R&D Center in Tel Aviv, Israel. The company was founded in December 2015 by CEO Daniel Shaked, a pioneer in the Local Search and Home Services Marketplaces space. Home365 is backed by Lool Ventures, Verizon Ventures, O.G. Tech Ventures and high profile angel investors.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180917005198/en/

CONTACT: Global Results Communications for Home365

Valerie Christopherson

home365@globalresultspr.com

+1 949 608 0276

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: BUILDING SYSTEMS TECHNOLOGY INTERNET NETWORKS SOFTWARE MOBILE/WIRELESS CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Home365

Copyright Business Wire 2018.

PUB: 09/17/2018 09:00 AM/DISC: 09/17/2018 09:01 AM

http://www.businesswire.com/news/home/20180917005198/en

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