A few years ago, I was introduced to the company Yabonza and was blown away by their technology and personal approach to property management. It was a startup that is now disrupting the global property management industry. They bring transparency and efficiency to the business, as well as personalized service.
Disruptor in the Australian property management industry
Yabonza is a property management technology company that has disrupted the industry in a big way. Their unique tech platform allows investors to rent and sell properties without paying a traditional agent’s fee. They also work with landlords and provide a better ROI for property investors. The tech-driven company charges a fixed 3.9% management fee throughout Australia.
While Yabonza has acquired many properties, its team has shrunk in recent months. Now, only three staff members remain. The company owes creditors about $2 million. This leaves the administration team trading in a limited capacity.
However, the company plans to raise $10 million to $20 million this year and hopes to continue its growth. Earlier this year, Yabonza closed multiple funding rounds, including an angel and seed investor round. It also acquired fellow proptech disruptor Easyshare.
Dropdown menu on mobile
A drop down menu is a great way to improve your mobile website’s usability. It also demonstrates a good design ethos. The benefits of using a dropdown menu include a clear hierarchy and a better user experience.
While a dropdown menu may not be the first thing to come to mind when a visitor says “mobile,” many sites use this format to good effect. For instance, Ryanair’s site uses a dropdown menu to let visitors select the flight location. Also, check out Adobe Lightroom’s mobile app. This application is an excellent example of a mobile app with a well-designed dropdown menu.
The Disney above + mobile app is also a great example of a site that has used a dropdown menu to significant effect. However, the most impressive part of this website’s UI design isn’t the menu itself.
Unusual fees charged by the company
Earlier this week, wexted advisors Andrew McCabe and Joseph Hayes were tasked with a demanding job: putting a reputable tech startup, Yabonza, out of business. As part of the rescue mission, the duo above has been tasked with securing the most significant single asset in the company’s portfolio: its national residential rent roll. In addition to negotiating a deal that will see a return to creditors, the two men will be looking to buy the rest of the assets shortly.
As well as reclaiming some of their soiled linen, the duo above will be tasked with securing a suitable buyer for some of the most prized possessions the company has to offer, including the company’s flagship property in Brisbane’s entire national residential rent roll.
Placed into administration
If a company faces financial difficulties, it may be placed into administration. This formal legal process can help return the company to profitability and protect it against creditor actions.
Once a company is placed into administration, an administrator is appointed. The administrator is a licensed insolvency practitioner who assumes control of the company. They are tasked with determining a plan to rescue the company and ensuring that the process is carried out efficiently.
After being appointed, the administrator has eight weeks to prepare a proposal to creditors. The proposal should detail how the administrator intends to rescue the company and how they will pay off creditors. Creditors must approve the proposal within ten weeks of its submission.
Administrators can extend the time limit with court permission. In addition, they can request court directions. Upon completion of the administration, the administrator must send a progress report to creditors.
