Given that Eglooz is fast-becoming a familiar name in the real-estate sector, as well as the startup community in Bahrain, odds are high that you are already somewhat familiar with the startup.
Even if you’re not, allow us to quickly walk you through the startup’s brief bio. Eglooz was launched in January 2020, barely a few weeks before the COVID-19 was officially declared a global pandemic. It prides itself as the first Bahrain-based PropTech company. Yep, first!
From online rental payments, a rent-book management, to maintenance tracking system and a host of related services — Eglooz claims to be a one-stop solution for landlords, property management companies, and tenants alike.
We recently engaged their founder, Esam Al Quradhi, in a one-on-one conversation to learn more. Here’s what we found:
What’s the buzz about Eglooz?
Esam responded by saying that Eglooz is on a mission to penetrate the market, solving critical real estate industry problems, the company is a first-of-its-kind unified PropTech platform that
has all the ingredients to serve all stakeholders in any leased real estate- be it advertise, search, rent, pay or manage leased properties
The platform is compatible with all kinds of properties — residential and commercial, and whether it is a piece of land, building, apartment, villa, or anything else.
It’s great because this way, you won’t have to pay/receive cash, endure the drag of physically meeting and communicating digitally with landlords or property management companies; especially during a time when social distancing is at its highest.
Eglooz listed three features that the company claims makes it unique among its peers in the region. These include:
- Online Payments, e-Invoicing, e-Receipts.
- Electronic Maintenance tracking system
- Real-time rent book management with indigenous Alerts and Reminders
Online payments allow tenants to pay rent seamlessly anytime, anywhere (within two clicks only), automated eInvoicing allows the lessors to have peace of mind, knowing that Eglooz sends automated eInvoices via app, email and sms, and once payment is made, receive their eReceipts instantly,” Esam noted during the conversation with StartUp Bahrain.
Real-time maintenance tracking, meanwhile, is another unique feature that does away with the need for any manual intervention from both lessors and lessee.
Meanwhile, the rent book management with native alerts provides a 360-degree view of the property and rent collection status in real-time.
Interested in benefiting from Eglooz? Here’s how.
Eglooz is an open platform, which means it allows both individuals and businesses to register their properties on the platform. All they have to do is furnish the proof of ownership of the property. You know, legal matters!
“While property management companies would be required to prove their official registration in the Ministry of Commerce, Industry and Tourism, and Real Estate Regulatory Authority (RERA) licenses. The requirements improve the authenticity of the platform and trust towards the end-users (tenants).”
Eglooz during COVID-19
We asked the company how the COVID-19 pandemic affected its business, especially since Eglooz started its journey barely a few weeks prior to the crisis. The startup responded by saying that being a digital PropTech startup, the pandemic, and the ensuing lockdown didn’t directly impact the company’s day-to-day affairs for the most part.
In fact, the company offered a helping hand to struggling property owners and real estate businesses by making the Eglooz platform free of cost for a limited period. We love that!
“The solution was offered for FREE during the pandemic as an initiative to support Bahrain’s fight against Covid-19. We’ve had a scenario, wherein, one of the users (property management company), was quarantined and their offices were shut down for two weeks. They found Eglooz as the survival tool for them to continue managing the properties from home.”
Can the PropTech sector boom in Bahrain?
Esam mentioned a three-pronged approach to give the PropTech sector in the Kingdom a flying start.
First, he noted that the sector could use more help from the government to spread awareness about the benefits of such platforms while simultaneously helping homegrown PropTech companies to promote themselves.
Up next, Esam added that there is a need to empower special recognition with existing realtors and financial institutions.
And finally, Esam highlighted that the sector could use more investment in existing companies to boost market reach and R&D.
If you have any further queries about Eglooz, don’t hesitate to reach out to them using their official portal here. Alternatively, you could also contact us using any of our social media channels over at Instagram, Twitter, Facebook, and LinkedIn!