How a Kiwi innovation is disrupting a $1.5 billion industry.
Running a property management agency may appear straightforward, but behind the scenes it’s often far more complex. For many property managers in New Zealand, managing portfolios involves juggling multiple software systems – one for finding tenants, another for inspections, yet another for document management, and a separate one for finances. This fragmented approach not only complicates operations but also creates inefficiencies, turning what should be a streamlined process into a logistical challenge.
On top of this, the financial burden of maintaining multiple software subscriptions weighs heavily on smaller property management agencies, leading many to resort to paper-based methods, which waste significant time on manually searching for information and processing tasks.
“For many property managers, the real challenge isn’t just the cost – it’s the inefficiency of constantly switching between systems. This fragmented setup makes it difficult to stay organised and often results in missed opportunities to enhance service and focus on growth,” says Luke Nicholls, founder of Keyhook.
Keyhook is a Wellington-based company said to be revolutionising property management by replacing these disconnected systems with an all-in-one platform. It is designed specifically for New Zealand property managers to handle everything – tenant checks, maintenance requests and more – to achieve lower costs and more efficient operations.
One of Keyhook’s early adopters, Sam Johnson, faced a pivotal moment in 2023 when a key contractor left his team. “I had two choices: hire another contractor or find a solution to fill the gap. In the end, we didn’t hire someone new, we found the solution: Keyhook.”
“Our aim was to reduce as much time spent on manual tasks as possible by utilising the most cutting-edge technology,” Nicholls explains. “At Keyhook, we’re always asking: what is the next step forward?”
Keyhook’s platform, led in development by co-founder Aaron Rama and his team, leverages AI technology based on his experience building AI companies in California as early as 2017. Rama applied his expertise to develop ‘Tama’, a world-first AI assistant designed for New Zealand property management and integrated throughout Keyhook. Tama provides real-time, free advice to property managers, landlords, and tenants based on local law. The company says this platform has quickly gained traction across the industry by assisting Kiwis with the complexities of property.
For years, property managers have called for regulations to standardise the industry and raise professional standards. However, last year’s proposed regulations stalled, leaving the industry largely unregulated. Despite this, there’s a growing consensus among property managers that the industry needs to modernise and move away from inefficient systems. Many agree it’s time to weed out the “cowboys” who cut corners and hold the industry back.
“The industry as a whole understands that growth is needed,” Nicholls says. “There is a push to raise the standard of property management by consolidating tech and increasing efficiency across the industry. Keyhook offers a solution, enabling property managers to lead the way in innovation and stay ahead of the curve.”
Keyhook isn’t just for large firms; it’s designed to help smaller agencies compete by offering a professional, efficient solution to manage their portfolios. By consolidating tasks and reducing administrative overhead, Keyhook aims to empower property managers to thrive in an increasingly competitive market.
“With Keyhook, property managers can step into the digital age without breaking the bank. Whether you manage 50 properties or 5000, it provides the tools needed to stay competitive while delivering better service to both tenants and owners,” Nicholls says.
As the property management industry evolves, tools like Keyhook offer a glimpse into the future – a future where technology simplifies tasks and creates more professional, efficient businesses. Keyhook positions itself as being there to help New Zealand property managers to embrace this evolving era of technology.
To see how Keyhook will endeavour to transform your property management operations, visit the website and book a demo with one of their 100% NZ-based support team members.