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Real estate software company Lofty is putting its considerable development resources to work in the apartment market with the release of LoftyWorks, a multi-faceted rental property marketing and management application.
The software is being unveiled July 30 at Inman Connect Las Vegas, the market’s premier in-person convergence of real estate and technology. The company said the new product is integrated into the Lofty platform to make adoption virtually seamless for those brokerages that work with investors and extend operations into property management.
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“LoftyWorks is designed to help residential real estate agents, property managers, and landlords simplify and automate the process of property management and generate new revenue opportunities spanning both rental and purchase businesses,” the company stated.
The software’s intent is to make it easy for agents to step into working with renters and to scale up work with investors and landlords also looking to grow their portfolios as the rental economy continues to accrue participants in the wake of the challenging buyers market.
True to Lofty’s overall model, LoftyWorks will be enhanced by artificial intelligence functions to hasten workflows and ease adoption. Its connectivity to existing Lofty products will further ease onboarding and client interaction, increase feature familiarity and power better marketing.
LoftyWorks will enable users to send available rental units to major marketing platforms such as Zillow, Hotpads and Trulia; screen tenants; collect rent, fees and payments; deploy work orders and maintenance tasks; and oversee property and community financial operations.
“Our mission is to provide the best AI-powered real estate platform and facilitate seamless collaboration for real estate professionals, helping them prosper in a tech-centric, hyper-competitive world,” said Joe Chen, CEO of Lofty, in a statement. “LoftyWorks is a natural extension of that vision and underscores our commitment to providing innovative, practical applications that drive business growth.”
Lofty will later become available as a stand-alone product for use by institutional apartment operators, according to the company.
Lofty was previously known as Chime, rebranding in 2023. Chime’s Vice President of Industry Development Stuart Sim explained that the company has evolved quickly beyond a CRM, and that the rebrand will disconnect the company from that narrow characterization.
“We’re much more than that; we are truly a full platform,” Sim said. “The evolution of where we’re going is the key, and that’s as an AI-powered tech platform, built really specifically for real estate agents, teams and brokers.”
And now, property managers.
