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welly, a UK-based startup that offers an AI-enabled rentals and property management marketplace, has expanded its portfolio by 1,000 properties through the acquisition of Lime Property, an estate agency in Hull. This move combines Dwelly's technology-driven approach with Lime Property's local expertise to streamline operations and enhance the experience for landlords and tenants.

    According to Ilya Drozdov, co-founder and CEO of Dwelly, this merger will empower property managers with better tools and automate tasks such as tenant management, payments, and post-rental maintenance. Drozdov emphasizes that digital transformation is crucial in the industry, where outdated processes hinder property managers from focusing on key tasks.

    Co-Founder Dan Lifshits notes that real estate is an industry ripe for AI innovation due to its people-centric nature and high headcount costs. He believes that acquiring Lime Property will help tackle tech debt and set a new standard for letting agencies. The acquisition aligns with the growing trend of property managers embracing digital solutions to boost operational efficiency and tenant satisfaction.

    A recent report found that renters who use online payment methods have a 77% satisfaction rate, compared to 35% for those using traditional methods. Digital transformation enables property management companies to leverage technology to address industry challenges, as highlighted by Tony Julianelle, CEO of Atlas Real Estate.