Bricks + Agent buys Inspection Manager – Image: Supplied
  • Acquisition comes months after acquisition of Maintenance Manager
  • The deal makes Bricks + Agent a market leader
  • Inspection Manager completes over 13 million inspections

Sydney-based property management company, Bricks + Agent, has acquired Inspection Manager in a deal worth $8 million. The deal will see Bricks + Agent servicing around half of the rental properties in Australia, with the acquisition coming three months after the business acquired its competitor, Maintenance Manager.

Bricks + Agent, co-founder of Rafael Niesten said the company has had their eye on inspections for some time, now, noting that maintenance and inspections go hand-in-hand.

“When property managers are out doing inspections, they often find a large number of maintenance items and without any integration, it can be really difficult.”

“I first discovered Inspection Manager when looking for partners that aligned in a different vertical to maintenance.

“Inspections and maintenance work hand-in-hand; we have been working as a partner with Inspection Manager for well over 12 months and were impressed with their product and team.”

A growing proptech

The purchase of Inspection Manager brings those two capabilities under one roof. Inspection Manager, founded 13 years ago, has completed over 13 million inspections.

Bricks + Agent’s portfolio now includes over 2,500 agencies, 1.2 million properties and 18,000 property managers. Additionally, the platform has 5.1 million registered property owners and tenants, as well as 60,000 tradespeople. It has also secured clients such as Meriton, JLL and Little Real Estate.

Strategic in nature, the merger will create an all-encompassing service, enabling Bricks + Agent to offer invoicing, maintenance and inspections, which are the top three services required for property managers in their day-to-day work.

This deal sees Bricks + Agent acquire the second of Australia’s prop-tech founding fathers (following Maintenance Manager) and comes after hipages Group’s strategic investment in B+A in November 2021 to fuel the business growth.

The right fit

Co-founder of Inspection Manager, Carrie Vernon, said that the acquisition made sense given the consolidation that has been happening in the proptech industry in recent months.

“We see this as a fast way to deliver our strategy by growing in the real estate and social housing space while continuing to enhance and grow the users’ experience across these critical property management elements,” Vernon said.

“When we started 13 years ago our goal was and continues to be to create great tools for Property Managers that help drive efficiency in their day.

“Finding another team in Bricks + Agent that aligns with that goal is brilliant as we can push harder and faster on helping PM’s win back more of their time.

“There is a lot of consolidation underway currently in Proptech and it made logical sense to combine forces and allow our vision to be taken to the next level.

“The Bricks and Agent team will align these key pieces of technology to create a seamless, integrated user experience and our existing team is happy to be working as part of a bigger group to achieve more of our goals.”

You May Also Like

Perth apartment popularity on the rise, but new stock is still looking for firmer financial foudations

Costs remain a major hurdle to making more affordable apartments viable to build.

Carly Barrett and Paul Rossen awarded the AIA WA President’s Prize

This year’s award recipients have contributed towards growing public interest and understanding of architecture, as well as mentoring the next generation of architects.

2024 Australian Interior Design Awards reveals a record 222 shortlisted projects

Sustainability, collaboration, and timeless natural materials were this year’s biggest trends.

PropertyGuru Asia Property Awards (Australia) returns for its 7th edition, including several brand new award categories

This year’s awards include several brand new categories, with entries closing 2 August 2024.

Top Articles

PropertyGuru Asia Property Awards (Australia) returns for its 7th edition, including several brand new award ...

This year's awards include several brand new categories, with entries closing 2 August 2024.

Thinking of borrowing for a new home? We decode the home loan lingo and explore ...

We take a look at everything from principal and interest to rates and more.

A window of opportunity could be open for savvy Australian property investors, but time is ...

One expert has noticed investors are on the move while there's less competition and fewer buyers in the marketplace.