Airspace is a digital search functionality for a new office, co-working space, warehouse, retail shop, factory, storage space or showroom, explains founder and MD Peter Collins, who has over 20 years of experience in the commercial property industry.
“Property owners simply subscribe to upload their space onto the Airspace platform, which enables them to receive enquiries directly to their mobile devices via Whatsapp or email. There are no agency commissions for subscribers, so landlords are able to offer better rental deals to tenants inquiring on the platform, while property managers benefit from significantly reduced marketing costs, as well as direct access to the business market via the latest big data management and digital marketing strategies. Potential tenants, in turn, can freely search for available space.”
Collins says the subscriber format offers economies of scale for landlords so the more space you load, the cheaper it is. “For the property owner there’s a basic cost of 99c per square metre for office and retail space, and 50c per square metre for industrial space to let, and for sales, a success fee of 1% of the purchase price, which represents a huge saving in marketing costs. They can manage the relationship with prospective tenants or buyers directly via the platform.
“From a transparency perspective, the tenant provides feedback and ratings of their experience with the subscriber, rating criteria such as efficiency of communication, accuracy and quality of information provided, while subscribers rate their experience with tenants on criteria such as punctuality for viewings, efficiency of communication and the like. This promotes an environment of accountability where all parties act with integrity and efficiency,” explains Collins.
Airspace will be rolled out to Pretoria and Durban during the course of 2020 and then internationally in 2021.
