UK PropTech Startup Dwelly Adds 1,000 Properties With Lime Property Acquisition

Dwelly, a United Kingdom-based artificial intelligence (AI)-enabled startup that offers a rentals and property management marketplace, added 1,000 properties to its portfolio with its acquisition of Lime Property, an estate agency in Hull.

“By merging Lime Property’s deep local expertise with our technology-driven approach, we’re poised to streamline their operations and empower the teams with better tools, all while enhancing the experience for landlords and tenants alike,” Ilya Drozdov, co-founder and CEO of Dwelly, wrote in a Tuesday (Sept. 24) post on LinkedIn.

Dwelly’s full-stack business-to-business (B2B) platform is tailored to automate tenant management, payments and post-rental property maintenance, according to the company’s LinkedIn profile.

“When discussing other moves in the sector, the need for digital transformation in our industry has never been more critical,” Drozdov wrote in his post. “Many agencies struggle with outdated processes that hinder property managers from focusing on what truly matters.”

Dwelly Co-Founder and Chief Operating Officer/Chief Product Officer Dan Lifshits said in a Tuesday post on LinkedIn that real estate is “an industry with an AI revolution to be made” because it is people-centric, communication-heavy and has headcount costs that amount to over 65% of revenues.

“One of the biggest hurdles in our industry is the strain of repetitive tasks, draining resources and blocking innovation,” Lifshits wrote. “Real estate is still burdened by significant tech debt, and acquiring Lime Property is a key move in tackling it. Together, we’ll set a new standard for letting agencies and drive the change this sector needs.”

Property managers are embracing digital solutions to gain operational efficiencies and boost tenant satisfaction, according to the PYMNTS Intelligence and Ingo Money collaboration, “From Rents to Refunds: The Push for Faster Payments in Property Management.”

The report found that the satisfaction rate of renters who use online payment methods is 77%, which is much higher than the 35% satisfaction rate among those who use traditional payment methods, and that of renters who received refunds via digital methods is 72%.

Digital transformation allows property management companies to leverage technology to address the challenges endemic to the space, Tony Julianelle, CEO of Atlas Real Estate, told PYMNTS CEO Karen Webster in an interview posted in June.